article thumbnail

The four trends defining online retail in 2024

Inside Retail

Customer retention With both consumers and retailers feeling the pinch of increasing costs, customer retention will be a key theme of 2024. The competitive landscape is overflowing, making customer acquisition more expensive. Customer retention efforts are six to seven times more cost-effective.

article thumbnail

Smarter data: Reach high-propensity shoppers and deliver optimal digital impact

Inside Retail

Shopper behaviours are changing rapidly as consumers grapple with the effects of skyrocketing inflation. So how do you know how, when and where Aussies are shopping and reach the right consumer for optimal digital impact in a sea of brand switching? This means that advertising spend is more likely to result in a positive ROI.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Driving demand with data: a recovery roadmap for retailers

Inside Retail

After two years of immense disruption, cost-effective customer acquisition is a challenge, particularly given decreasing retention and loyalty and an upsurge in ‘switching’ among consumers. Leveraging data for advertising. o n Facebook tracking and user fragmentation, especially with the rise of TikTok.

article thumbnail

Welcome to the new customer experience

Inside Retail

In today’s new normal, the shopping experience is no longer defined by the boundaries of bricks-and-mortar, but by the customer journey as a whole. Consumers now expect retailers to engage them whenever and wherever they want, with a shopping experience tailored to their individual needs. Creating cohesive customer experiences.

article thumbnail

CommBank helps unlock opportunities for businesses

Inside Retail

That figure may have been an anomaly created by the pandemic but it’s been an opportunity for the group to focus on customer retention. The group uses the demographics tool to pull data on age and gender which they can use to target product and improve customer service. We don’t have money to throw away.

article thumbnail

5 Retail Marketing Strategies to Drive Sales

Creative Displays Now

What Is Retail Advertising? Retail marketing, or retail advertising, includes various tactics to spread awareness to your target audience and increase sales — from old favorites to newly launched goods. Keep your brand at the front of customers’ minds. There are three primary types of retail marketing.

article thumbnail

The 4 pillars of e-commerce profitability (promos aren’t always the answer)

Inside Retail

By analysing sales figures against all marketing efforts, it is possible to understand the types of offers to which consumers are most responsive. The most expensive advertising options are not always the most effective. Brand partnerships also allow expanded product selection to a larger network of consumers.

Promotion 130