Retailers have been using loyalty programs to turn new customers into returning shoppers for years. In 2016, the consumer loyalty management market was valued at almost $2 billion. By 2023, that figure is expected to reach nearly $7 billion — an annual compounded growth rate of nearly 21 percent. In the U.S. alone, consumers now […]
consumer spending
Marketplaces Next Best Thing for Retail in 2022
by Jim Stirewalt In 2021, we saw a rapid increase of investment in marketplaces from established retailers and businesses, as well as technology platforms looking to boost commerce revenue and customer experience. Given the fast pace of adoption last year, industry experts have given their thoughts on what the new year holds in store for […]
Gen Z’s New Shopping Habits May Kill Off Unprepared Brands
by Mark Hook For the past decade, brands have scrambled to serve millennials, the first internet-obsessed generation that forced retailers to rethink their online-selling strategies. Now, brands are reinventing themselves for the next wave of shoppers – Gen Z, or ‘zoomers’, as they are also known. Aged between 13 and 21, zoomers are gearing up […]
What Consumers Want From Your Holiday Marketing
For many retailers, the last few months of the year are some of the busiest. Between stocking up on holiday products, decorating your stores, and finding ways to target new customers, the list of tasks seems endless. No matter how busy you get, holiday marketing should be one of your biggest priorities to help break […]
The 2021 Consumer Culture Report
Last year brought many unexpected challenges for both retailers and consumers alike. Shopping patterns drastically changed, most likely for the long run, as well as the products that customers were looking for and needed. Amid all of these changes and uncertainty, it is vital for indie retailers to understand the changes in consumer behavior due […]
Consumers Excited to Support Independent Retailers in 2021
Vericast, a marketing solutions company, recently released research from its Valassis line of business focused on evolving consumer behaviors and media consumptions as a result of the pandemic. The findings highlight that consumers are eager to support small businesses and discover new products and services. Permanent Shifts in Consumer Behavior Based on responses from 1,000 […]
2021 Retail Predictions
Remember at the beginning of 2020 when you thought you had everything all planned out for the year, and then COVID-19 came and knocked all of your preparations off the table? That was not fun for anyone, and many businesses are still trying to recuperate and rebuild their models. We live in very unpredictable times, […]
Retail Experts Forecast an End to Traditional One-Day Black Friday Deals
by Proxima 360 Proxima 360, an impact solutions management consultancy for the retail industry, is predicting big changes for the holiday shopping season. Due to the ongoing pandemic, retailers are stuck with summer merchandise and the effects of a slow summer and back-to-school shopping season. As a result there is a reduction in profits and […]
COVID & Holiday Shopping Behaviors
As the summer continues to slip away and there’s still no end in sight for the pandemic, retailers have to truck on and start preparing for probably one of the most challenging holiday seasons we will come to know. Most retailers don’t know if what they’ve seen from shoppers since the onset of the pandemic […]
The NPD Group Reports Upward Signs of Retail Spending
As consumers settled into their sheltering at home routines, spending improved for the fourth straight week, up seven percent compared to the prior week, according to The NPD Group. Retail spending also showed flat year-over-year performance during the week ending April 25, 2020 — the first time sales didn’t decline since early March. As promising […]
