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Inside Best Buy’s 5-Year Effort to Evolve with Today’s Consumer

Retail TouchPoints

One of the core values of Dick Schulze, Founder of Best Buy , was learning from challenge and change a prescient insight from a retail leader in the 80s who realized even then that in retail, especially in consumer electronics retail, there would be constant change.

Consumer 287
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Adobe: Consumers Will Spend More Online in First 10 Months of 2021 than All of 2019

Retail TouchPoints

New data from the Adobe Digital Economy Index highlights the staying power of online shopping habits formed during the pandemic, seemingly answering one of the biggest questions of the year: will ecommerce continue to grow, or settle down to pre-pandemic levels? That’s 9% more than the comparable period last year and 58% more than 2019.

Consumer 262
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Amazon, Target, Walmart Incentivize Early Holiday Shopping

Retail TouchPoints

Three of the country’s biggest retailers are taking significant steps to get consumers into the holiday shopping groove — and to do so (much) sooner than later. As we approach the holiday season, guests are excited to shop early,” said Christina Hennington, EVP and Chief Growth Officer at Target in a statement. Beginning Oct.

Shopping 325
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Consumer Surveys Confirm: COVID-19 Shaking Traditional Retailer And Brand Loyalties

Retail TouchPoints

One common thread among many of the studies: fewer trips to brick-and-mortar stores in favor of increased online shopping. However, other potentially even more significant trendlines show fundamental changes in consumers’ decision-making process related to picking brands and demonstrating customer loyalty. The survey of 809 U.S.

Consumer 309
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2019 vs 2020 vs 2021: How has Covid impacted Christmas?

Inside Retail

If you cast your mind back to 2019, Christmas was business as usual. “E-commerce People were shopping in stores and Black Friday, Cyber Monday were becoming successful sale events on those specific days. But people were starting to shop for Christmas around that time. Consumers will continue shopping earlier.

Shopping 246
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What do Today’s Consumers Really Want? #RIC21 Day One Answers the Question

Retail TouchPoints

It’s the question every retailer wants the answer to: what do consumers (and more specifically, those likely to buy their products) really want? The day kicked off with a keynote presentation by Jeff Orschell, EY Americas Practice Leader: “Bottom line for retailers is that change is still happening, consumer behavior is still changing.

Consumer 325
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How the Rise of the Conscious Consumer is Fueling Resale’s Rapid Growth

Retail TouchPoints

Recently, however, something new has begun to drive massive growth in the used goods sector — consumers who are shopping based on their values , in addition to searching for value. Both socially conscious shopping and the resale sector already were on the rise before COVID, but the pandemic gave a boost to both.

Consumer 351