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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.

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Welcome to the new customer experience

Inside Retail

To close this gap, 44 per cent of retail and consumer goods marketers say they are now leading customer experience initiatives across their organisations (versus just 24 per cent in 2017), and metrics are being shared. Many have invested time and money into curating consumer data and building systems to offer personalised experiences.

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APAC customers are becoming more discerning and demanding: WGSN’s Jess Tang

Inside Retail

They want to be made to feel like they deserve to treat themselves, and they crave curated and tailored shopping experiences. These consumers are determined to live more intentionally and in the moment. These consumers will make the most of the present and enjoy life to its fullest.

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Crafting A Unique Brand Identity And Customer Engagement In Retail

RetailMinded

Independent retailers must meticulously curate this identity to carve a niche in the competitive market. Personalization is a symbiotic relationship between data analytics and emotional resonance, which can be further enhanced through an omnichannel marketing strategy , ensuring a seamless customer experience across various touchpoints.

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Welcome to digital art gallery Teleport, the offline version of the metaverse

Inside Retail

We can build an immersive experience for brands, curate different products in this space, and visitors can also have the opportunity to purchase them right there,” Eremyan told Inside Retail. The biggest challenge he sees is that most companies will struggle to implement these technologies in-house.

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