article thumbnail

Exclusive Q&A: EY Defines 5 Post-Pandemic Consumer Segments

Retail TouchPoints

In 2018, Ernst & Young (EY) launched an ambitious project called FutureConsumer.Now , to model scenarios that would challenge present thinking about future consumers. Orschell discussed the differences and overlaps among these consumer segments as well as other recent research. for trusted brands and 23% for ethical products.

Consumer 278
article thumbnail

Streamlining Price Checks in Your Brick-and-Mortar Store

Wiser

Retail price checks, an essential aspect of retail, involve monitoring and updating the prices of goods within a store. In the pursuit of competitive pricing and high customer satisfaction, these checks must be accurate, efficient, and consistent across all locations.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

JD.com’s discounts and Apple’s price cut Lunar New Year retail strategies

Inside Retail

As the Lunar New Year approaches, retailers around the globe are eagerly gearing up to embrace the festive spirit and capitalise on the significant market opportunities that this joyous occasion brings. One of the best examples of this came from China, as Apple reduced its retail prices on select iPhone models by almost $70.

article thumbnail

You Can’t Spell Retail Without AI

Retail TouchPoints

Customers who are determined to have low intent, for example, may receive an offer that they can’t refuse, while customers who are clearly going to make a purchase may be incentivized to buy more than they intended. In physical stores, we’re seeing AI used to improve the customer experience.

Checkout 306
article thumbnail

How Consumers Compare Prices to Make Purchase Decisions

Wiser

Pricing information is readily available for consumers at any time of day. Whether they’re looking online or in-store, they can find real-time prices in the blink of an eye. To put this in perspective, 96 percent of Wiser survey participants stated that they plan on comparing prices before making purchase decisions.

article thumbnail

2023: Ring in Retail Profits by Stopping Automated Threats

Retail TouchPoints

As consumers faced higher prices at the gas pump, grocery stores and other places, many cut back on their spending, increasing the competition among retailers. As a result of inflation, fierce competition, excess inventory and changes in consumer behavior, retail profit margins shrunk.

article thumbnail

Is inflation driving up demand for affordable makeup products and dupes?

Inside Retail

However, recent research from Mintel suggests that in the US, there is a subtle and evolving perception of value among beauty consumers. This shift in consumer preferences is not only affecting the industry’s dynamic but also has implications for mental health and gender inclusivity.