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The number of touchpoints to reach them and the amount of data being generated, continues to skyrocket, which can sometimes make for a very disjointed customerengagement strategy. . When customerengagement is done right, brands can build customer loyalty by providing impactful, user-centric experiences.
It’s the same thrill that retailers across Australia feel as retailsale season kicks off. Lasting from November through January, sale season captures the excitement and hustle as retailers gear up for Click Frenzy, Black Friday , Boxing Day, and beyond.
Indeed, many retailers will happily say goodbye to 2024, a period when high inflation and interest rates remained persistent and an ongoing cost-of-living crisis crushed consumer sentiment to its lowest in 45 years, all of which resulted in anaemic national year-on-year retailsales growth. How has customer behaviour changed?
Welcome to December and the chance for retailers to redeem themselves with customers. Historically, the highest retailsales and earnings were generated in December in the weeks leading to Christmas and the following Boxing Day sales.
In fact, China saw its economy strengthen in November 2020, with retailsales expanding by five per cent. Hopefully, as vaccines roll out across Southeast Asia, and the eventual relaxation of the MCO, will set the retail industry firmly on the path to recovery and growth.
We know e-commerce penetration is still on the rise and experts at Womble Bond Dickinson predict in their Retail Economics report that more than 50% of retailsales will be made online by 2028. We will continue to scale up Live Styling over the coming year, making it available to a wider UK audience.
Despite most shops being closed, retailsales rose 11 per cent during lockdown, largely because people didn’t have much else to spend money on. Clothing retail went up 20 per cent, even though people had nowhere to go.
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