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Competition in digital marketing is fierce: 81 per cent of retailmarketing executives expect it to increase even further this year, and 69 per cent plan to raise their spending accordingly. The report was commissioned by Klaviyo – an intelligent marketing automation platform – in partnership with Inside Retail.
The result is mounting pressure for retailers to deliver hyper-personalised, concierge-like shopping experiences with efficient handoffs between departments and channels before, during, and after a purchase. While 88 per cent of retailmarketers share integrated tech stacks with advertising teams, this alignment alone is not enough.
Shoppers are using a multi-channel approach to satisfy their needs – and this seismic shift, from both a consumer as well as a marketing perspective, has seen a huge increase in competition across every marketing channel in the customer journey. . So, what are the solutions available for retailers under these conditions?
Beyond his deep understanding of the Asian retailmarket, Réthoré believes his experience using CRM (customer relationship management) to drive customerretention and acquisition at Nespresso was a major factor in his appointment. “When you are in Guangdong, for example, in summer, you want a dry oil.”
The Retailmarket landscape has seen significant changes in retail trends and shifts in consumer behavior since the coronavirus breakout, but the industry now appears more optimistic about the growth prospects. As a starting point for developing the virtual reality experience, retailers should install try-on technology.
Relationship marketing is about meeting customers where they are and treating them as a person, not a persona. . Even though the smell of barbecue still lingers in the air, retailmarketers need to start ramping up for the holiday season. Get on the ‘nice list’ with zero- and first-party data.
Therefore, the effective promotion of goods at a discounted price will be crucial for retailers’ success. . Getting your customer data clean. Retailmarketers should now be getting their contacts list in order. At the same time, retailmarketers can also begin leveraging interactive experiences to opt-in consumers.
Start by understanding your customer. The days of retailers blasting one single, generic message to their entire database are, hopefully, a thing of the past. . The most forward-thinking retailmarketers are ‘progressively profiling’ customers’ interests, preferences, motivations and desires.
Retailers can effectively communicate their value proposition and increase foot traffic to their stores by creating campaign strategies that are tailored to their target audience. This can range from social media campaigns and email marketing to more conventional advertising & digital marketing.
This technological marvel aids in refining inventory management, shaping marketing strategies, and sculpting pricing frameworks, contributing significantly to sales upliftment and fortified customer allegiance. Real-time monitoring allows businesses to stay agile—adjusting strategies as market dynamics shift.
But it’s retailers’ reluctance to move their point of sale (POS) systems from a traditional client/server setup to a cloud-based architecture that really slows down progress. The resistance is real — people are not comfortable yet with putting their POS in the cloud,” said Dave Bruno, Director of RetailMarket Insights at Aptos.
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