As consumer preferences continue to evolve at an unprecedented pace, the retail world becomes increasingly saturated. Retailers find themselves navigating a complex maze of choices to stay relevant, and understanding their customers has never been more crucial. Enter the realm of customer profiles —a strategic tool that transcends traditional demographics and delves into the intricate nuances of individual buying behavior. In this realm, data meets personalization to create a winning formula for sustained customer loyalty. Customer profiles are critical in creating omnichannel customer engagement strategies that resonate with a retailer’s target audience. They allow marketers to understand their ideal customers
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Although eCommerce is still strong, accounting for 21% of all retail sales in 2022, today’s shopper seeks an omnichannel experience. Many customers love the convenience of online shopping but also want the perks of an in-person experience, such as trying on the merchandise and seeing it in real life. To meet this need many brands are experimenting with phygital retail, a method of combining elements of the digital and in-person shopping experience, personalized to each customer. Retailers that once operated purely in the digital space now have physical stores in which customers can look, touch, and feel the product. Even
Fashion retailers heading into 2023 will turn more and more to omnichannel marketing. That’s because omnichannel marketing combines traditional offline methods with digital ones, such as email campaigns and social media, to create an integrated and seamless customer experience. Omnichannel marketing provides customers with the convenience of shopping when, how, and where they want while giving fashion retailers a competitive industry edge. Considering 73% of customers prefer shopping through multiple channels, it’s essential to have an omnichannel approach that meets customers’ expectations (Harvard Business Review). Table of Contents > The fashion industry by numbers in 2023 > Best omnichannel marketing
In an ever-changing consumer market and a world dominated by technology, retailers must put their best foot forward regarding innovative marketing tactics. Retail innovation is when a retailer offers consumers something new or an improvement in its technology, services, products, or business systems. More specifically, retail innovation revolves around providing added value that makes a retailer more desirable to consumers and gives it a leg up on the competition. Retail innovation is not just for businesses that have the funding to invest in expensive, fancy technology to provide exciting experiences for their consumers. Instead, big and small retailers should focus on
Research shows that 90% of customers expect brands to have an online presence, even though 81% of shoppers in the US are comfortable in brick-and-mortar stores again. Despite the post-Covid shopping habits, keeping the shopping experience consistent both online and in person helps brands build trust with their shoppers, and should be a top priority for every retailer. Three-quarters of shoppers say they want consistency across all channels when working with a brand, and the most effective way to achieve that consistency is to stay ahead of the game with a top-notch Omnichannel strategy. In this article, we have collected
As summer comes to a close, parents are prepping to send their kids back to school. This event marks one of the largest shopping booms of the year, with parents to be expected to spend $37 billion. In 2021, back-to-school shopping rose by 16% as kids went back to class, and that number is expected to rise even more this year. You can use some of the most creative back-to-school marketing ideas from big retailers, to highlight your fast-moving consumer goods (FMCG) and capture these shoppers. Table of Contents > What is Back-to-School marketing? > Back-to-school spending in the post-COVID-19
Now that in-person shopping is resuming, the growth of the eCommerce industry may have slowed down to 12.2 percent in 2022 (vs 16.3 percent in 2021) according to eMarketer, but social and business gatherings are returning more robust than ever. With global events driving an uncertain market, 2022 is a great year to start or resume attending retail events. Conferences are the lifelines of interpersonal connections, as you will be able to gain insight from industry insiders and get a handle on the latest retail trends. This article will cover some of the top retail events in Europe to help
Providing an assistive customer journey and foretelling customer needs is a catalyst for exponential growth, as 89% of profitable companies say. To thrive in retail, you must continually improve customer touchpoints throughout the purchase journey to earn and keep loyal customers. Building on customer experience best practices will fortify the customer journey and refine your overall customer experience quality. Considering that 73% of customers prioritize customer experience over price and product quality when making a purchase decision, it’s clear that a successful customer experience is the lifeline of retail brands. To keep turning profits, you need to implement and maintain
When 80% of sales consistently come from 20% of your existing customers, it goes without saying that keeping those buyers around and engaged is a top priority. Retail customer engagement strategies drive retention rates, and with 86% of consumers reporting they’ll pay more for a better brand experience, it’s an open opportunity to form lasting relationships with customers and increase your bottom line. Since the pandemic hit every retailer hard, changing the retail world as we know it, optimizing your business’s omnichannel strategy and finetuning your customer engagement plan can have a bold difference in your quarterly and yearly results.
Without a doubt, this summer will be different from the previous one and hopefully better. The COVID-19 vaccine brought a sense of optimism in the consumers that are eager to return to their pre-pandemic summer habits. After a tiresome winter, we all crave some summer “revenge shopping” and a much-needed holiday. Seasonal summer sales tend to be a “smoother” period for balance sheets, but there is always space for hot summer marketing campaigns to monetize. So we decided to create a list of summer marketing best practices for retail. Even in the summer, digitality is still king with the majority of travelers