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Key retail trends for 2024 – and what you need to do about it NOW

Mike Anthony

Retail is arguably changing faster than ever before. Every market I visit is changing in many ways, and while each country is different, there are a number of unifying trends that are hitting almost everywhere. Yes, the balance between the trends might vary, but each of these is hitting pretty much everywhere to some degree.

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More Private Label, Smaller Store Footprints: How COVID-19 Is Accelerating Existing Retail Trends

Retail TouchPoints

Interest in private label products, from supermarket-branded foods to Amazon Basics hard goods, have been on the rise for the past several years. In comparison, one hot market that may cool off is resale. Retail was already shrinking in terms of floorspace: total square footage dropped by 4.4%.

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Tesco’s Strategy for Gaining Market Share

Indigo 9 Digital

Consumers at that time were reeling from the recession and Aldi and Lidl entered the grocery market in the United Kingdom with low prices and were able to steal share. So it fulfils our strategic desire to make sure our customers can shop with us wherever, whenever and however they want.” Retail media. Source: Bloomberg.

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Staying Competitive: Keeping Up With Amazon

Rangeme

Now retailers are doubling down on AI for faster processes that make the customer experience more convenient. Walmart added AI to its fulfillment processes to fill online orders faster. Walmart to build local fulfillment centers at dozens of stores. Supermarket News. Supermarket News. Marketing Dive.

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Coping With Omicron Disruption Across the World

Rangeme

It’s a vicious circle: retailers in every market are raising their prices, prompting consumers to look to their employers for pay increases, forcing companies in every industry to raise prices once again. The major supermarkets all report shortages of products including fruit, vegetables, and meat.

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The Future of Retail: 9 Ways Alibaba is Redefining Retail Stores

Indigo 9 Digital

A Hema supermarket in China. By Tricia McKinnon If you want to know what the future of retail looks like perhaps it’s time for you to take a trip to China. China is considered to be two to three years ahead of the United States when it comes to merging digital with offline retail. Stores as fulfillment centres.

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Alibaba’s Strategy, 6 Things to Consider

Indigo 9 Digital

The Chinese eCommerce market, filled with innovation and highly skilled companies, has been one to watch for many years. Add to that a maturing and highly competitive eCommerce market in China as well as a slowing Chinese economy and Alibaba isn’t growing as fast as it used to. “In Create a true omni-channel retail chain.