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The Retail market landscape has seen significant changes in retailtrends and shifts in consumer behavior since the coronavirus breakout, but the industry now appears more optimistic about the growth prospects. Here Are The Ten Emerging RetailTrends We Predict For 2022. New Look Stores.
Whilst the pandemic highlighted the challenges and risks of just-in-time supply chains and off-shoring, agile retailers adapted by dual sourcing, near-shoring, and rolling out technology to optimise ecommerce and physical store capabilities like utilising stores as mini-fulfilment centres. Got you thinking about retailtrends for 2023?
What Fast Fulfillment Means to Consumers. Most retailers’ supply chains were not prepared for the abrupt switch in transportation and fulfillment needs or the sudden spike in consumer demand. . 3 Unexpected Benefits of Fast Fulfillment. Better CustomerRetention.
According to Bain & Company, a 5% increase in customerretention correlates with an increase in profit of at least 25%. 42 Interesting Stats about Customer Loyalty You May Not Know. Agility, supplier diversity , and relevant products can distinguish up-and-coming CPG players. . It pays to earn consumers’ devotion.
Omnichannel retailers use barcodes to locate in-stock items and “buy online, pick up in-store” (BOPIS) orders quickly. Customers can present a barcode on their smartphone at a counter or kiosk for fast order fulfillment.
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