Retail marketing
Modern marketers are old pros when it comes to navigating change. This is especially true if you’re in the retail industry, where your ability to…
At the height of the pandemic in 2020, global retail sales fell by 2.9%. A year later, it bounced back to 9.7% growth. Yet global retail sales will see reduced growth this year as customers significantly cut back on purchases to cope with the cost-of-living crisis. Brands now risk having fewer sales, increased churn, and lower revenue. Deal-seeking customer behavior is soaring as shoppers turn to alternative brands for deals and discounts. In fact, Amazon Prime Day has customers purchase over 300 million items (largely essentials) – the highest ever recorded. With talks of a potential second Prime Day later this year, businesses now face an even more challenging Golden Quarter. It’s a sensitive time for shoppers and a crucial period for businesses. Customers will remember how brands adjusted their marketing models in response to the crisis. To help you get this right in time for the Golden Quarter, we’ve
Black Friday and Cyber Monday (BFCM for short) are quickly approaching, marking the start of the pre-Christmas shopping frenzy. Since those days tend to give retailers their highest sales, they are aiming their cannons at the competition to offer the best discounts, longest shopping hours, and premium product offerings. But are cannons sustainable? Not really. Some retailers are taking notice of recent trends. With global warming and environmental protests led by the likes of Greta Thunberg, the number of shoppers that prefer eco-friendly solutions is growing. Research also shows that Millennials have a strong preference for eco-friendly consumerism and with their increasing buying power, their shopping preferences can’t be ignored anymore. What if Black Friday Was About Sustainability? When you think of Black Friday, one can picture lots of noise – screaming even – from the brands trying to catch shoppers’ attention to the shoppers themselves trying to get their…
The retail and eCommerce landscape is rich, diverse, and constantly evolving, fueled by a continuous supply of digital optimization tools in a challenging digital transformation environment. In 2019, a total value of $3.4trillion sales was carried out in the global online marketplace and by this year, online retail sales are set to reach $4.8 trillion. According to Business Insider, in the US alone eCommerce represents almost 10% of retail sales — a figure that is growing by nearly 15% each year. Despite the steady rise in eCommerce adoption, 86% of total retail sales is still taking place in physical stores. Yet, most consumers’ online identities remain disconnected. According to the latest report from Westfield, 56% of shoppers are frustrated by inconsistent and inaccurate online recommendations. 74% of shoppers will try a new brand on impulse in-store and they’re more than twice as likely to impulse shop in-store then online. As…