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blog
Digital has transformed the way we live. In almost every walk of life, the smartphone elevates our experience, adding value and streamlining the way we do things. Within retail, digital is transforming everything from the consumer experience, to marketing and the supply chain. The consumer is now a digital shopper, with the whole of the internet at their disposal – a gigantic cybermall that never shuts, and where the journey from browsing to buying can be condensed to mere seconds and often just one click. Read the rest of Tim’s article in The Grocer here to read his recommendations for cohesive, digital-led retail operations, identifying the in-store experience as the crucial area for providing the much-needed digital connection to consumers.
The results are in for Black Friday and it’s not good - even with potentially large price discounts, consumers still didn’t respond well, with like-for-like sales down 0.5% last month and footfall dropping 5.5% post Black Friday – almost double the decline of the previous year. Lessons from 2017 also proved that cutting prices simply cut margins and profitability, without increasing customer demand.
To achieve lasting, in-depth customer loyalty, retailers must develop keen insights into their customers, understand their behaviors and preferences, and deliver valuable, relevant offers and communications to customers based on those insights. To do that, they need connected customer data.