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On one hand, personal safety and security are still top-of-mind for consumers, driving changes in everything from online shopping to brick-and-mortar storelayouts and delivery models. While they often produce higher revenues and improved profit margins, they also represent risk in the form of unsold inventory and expensive returns.
From one analyst’s perspective, the Australian mergers and acquisitions landscape is considered to be relatively subdued, but there are signs that confidence in the market is returning. Investors are not seeking for their funds to be returned to them without any assets or growth to show for it,” Hough said.
While there’s no doubt that 2020 was a tough year for all retailers, Australian denim brand Jeanswest had a steeper hill to climb than most, starting out the year under voluntary administration with the closure of 37 stores, the loss of 263 staff and owing $50 million to creditors. Baby steps .
Discount supermarket Aldi is making a push into convenience with the opening this week of a Corner Store concept in North Sydney. The new storelayout is designed to support smaller-basket, convenience-driven purchases, in contrast to the traditional big-box Aldi supermarket typically frequented by consumers for larger shopping trips.
Facing a near-apocalyptic situation, retailers have had to pivot quickly, creatively and competently in order to withstand the chaos of the 2020 economy. The in-store experience remains a crucial part of consumer expectations. But the COVID-19 pandemic forced retailers to grapple with all of the above, all at once.
Retail TouchPoints (RTP): How would you describe consumers’ comfort level returning to stores, and how will this change or evolve leading into the peak of the holiday season? Despite these reservations, 47% of consumers plan to shop in-store this holiday season, an 8% increase from 2020.
Pandemic-driven buying trends led to an explosion of new challenges, from a surge in online returns to the rise of curbside pickup to supply chain delays. CPG companies increasingly went the direct-to-consumer route to get closer to customers, but dealing with smaller orders and more returns complicated their logistics processes.
Additionally, grocery retailers are expected to increase their investments in on-site pickup or nearby microfulfillment centers by 35% to keep up with demand, forcing retailers to rethink the standard storelayout with BOPIS and curbside journeys in mind.
According to research undertaken by the International Association of Department Stores and multinational business and creative intelligence consultancy NellyRodi, the Covid-19 pandemic and its gradual disappearance have translated into “a V-shaped trajectory” for the men’s fashion category in department stores.
The survey found that many Americans believe the quality of the in-store experience has declined since 2019—the last year before the Covid lockdowns that began in March 2020. The remaining respondents (38%) said they shopped in-store about the same amount today as before Covid.
By observing how customers interact with your storelayout and displays, you can gain valuable insights into their preferences. These interactive elements not only encourage customers to spend more time in-store but also create memorable experiences that encourage brand loyalty.
In fact, China saw its economy strengthen in November 2020, with retail sales expanding by five per cent. We look forward to footfall in the malls returning to pre-pandemic levels, and are excited to welcome shoppers to Pavilion Bukit Jalil, which opens at the end of the year.
Analysts recorded 15,000 retail stores closures in 2020, marking a shift that will have a massive impact in how brick-and-mortar will operate in the coming years. JLL predicts that by the end of 2021, 80% of office workers will have returned to the office following the release of a vaccine.
In 2020, we saw consumers fully embrace the expanded world of self-scanning, buy-online-pick-up-in-store (BOPIS), and home delivery. The brands that do it best leverage their employees to connect with consumers both in store and through social channels,” Zietsma said. What Consumers Are Looking For in Personalized Experiences.
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