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The four trends defining online retail in 2024

Inside Retail

With this momentum continuing into this year, it’s the perfect time for retailers to reexamine their strategies and restructure with growth and scale in mind. Customer retention With both consumers and retailers feeling the pinch of increasing costs, customer retention will be a key theme of 2024.

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Adapting To Changing Consumer Behavior: Strategies For Indie Retailers

RetailMinded

According to McKinsey & Company , 75% of consumers are exploring new shopping behaviors, indicating a significant change in their preferences and priorities. I’ll then suggest some effective strategies that independent retailers can use to stay ahead of the competition. So let’s get to it!

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Adapting To Changing Consumer Behavior: Strategies For Indie Retailers

RetailMinded

According to McKinsey & Company , 75% of consumers are exploring new shopping behaviors, indicating a significant change in their preferences and priorities. I’ll then suggest some effective strategies that independent retailers can use to stay ahead of the competition. So let’s get to it!

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Why Innovative Loyalty Card Programs Can Significantly Improve Customer Retention & Engagement

Parcel Pending

Savvy retailers are updating their customer loyalty programs to increase customer satisfaction and ensure customer retention. The lure of loyalty cards remains the same since its inception: it’s more cost efficient to retain an existing customer than it is to acquire a new customer. Parcel Pending.

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The $15bn impact: Physical touchpoints drive Australian e-commerce revolution

Inside Retail

This compelling data highlights the critical importance of adopting omnichannel strategies for Australian retailers striving to stay at the forefront in an ever-evolving market. Consumers express a significant desire for out-of-home returns, with 65 per cent believing they should be free.

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Planning to sell online in the US? Here are some tactics to ensure success

Inside Retail

“You need to really lean into understanding your customer and their value and create personalised experiences that minimise wasteful spending for you as a retailer and that also drive customer retention.” The ease of returns has become a basic expectation among consumers shopping online.

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Survival guide: The keys to resilience and success in tough times

Inside Retail

There are several economic factors playing havoc with consumers and business operations that are likely to persist into 2024. Consumer sentiment remains low as households stagger under higher costs of living and interest rates. A strong personal connection increases the likelihood that a consumer will remain loyal to that brand.