However, discounting products for members is expensive and it is difficult to exit such a program once it is launched. Points Programs To avoid the negative connotations of discounting, many loyalty programs us a points "currency" to allow participants to keep track of their earned benefits. Typically, consumers earn additional points by buying goods and services from the issuing retailer and can include bonus products, bonus thresholds and partner opportunities Pros - The basic premise is simple for consumers to understand - Can be difficult to match because earning and reward thresholds can be easily adjusted - therefore can offer greater competitive advantage - Can allow more targeted, flexible and imaginative promotions e.
To mirror the success of newer, online stores, large retailers are looking to modernise by establishing parallel online presences.
The growth of mobile requires an effective view of multi-channel financial reporting and planning. And it has less to do with age and more to do with their increased buying power, tech savviness, global connectedness, environmental concern and an insatiable craving for instant gratification and the experiential.
How do women fare in the South African retail market? How liquid is the average women consumer? What does she buy? Does she have the buying power in a household and what does that household look like?
The proliferation of technology-driven purchasing means retailers are expected to keep up with the always-connected, digital-savvy shoppers.
Could it be that global ecommerce has yet to successfully optimise for mobile checkout? Keeping the customer at the centre point of all the activities is the present and future of all businesses, no matter how de-layered, outsourced, virtualised or re-imagined business becomes.
Meticulously planned and managed to efficiently and effectively facilitate the flow of goods, services, information and cash between entities when, out of nowhere, supply chain risks and disruptions stick their heads out and muddle up the system.
The exponential increase in online shopping has had a significant impact on how we buy our products. Long gone are the days when purchasing items was done from Monday to Saturday, between a rigid office-hours timeline.
The evolution of e-commerce culture has particularly affected one demographic: So, what does this mean for brands? Brands need to be where the consumers are and what better place than the mall environment.
The research revealed South Africans spent R Consumer confidence, perception, and potential engagement with your brand is solely dependent on the overall quality and experience of your retail offering.
In addition, the entrance of international brands has added further challenge for local incumbents. The last weeks of also affected retail — fuel price increases and the ANC elective conference were among the disruptive forces that plagued the retail and shopping centre industry. Innovations like artificial intelligence AIInternet of Things IoT commerce, robotics and 3D printing have impacted all elements of the retail industry.
This year, has been an economic challenge of note. Retailers and shopping centres alike have faced obstacles unlike previous years but despite this, many have remained steadfast and continue to weather the storm.
Reputation and corporate bottom line: Business Times, 10 December The volume of information is overwhelming, leaving many to disregard those messages or even view them with outright disdain. For email marketers, in particular, message overload threatens to send their strategic marketing messages directly to spam.
Overcoming the data deluge: The retail environment is an exciting ever-evolving array of changes with the newest retail sales marvel Black Friday making a growing impression on the South African retail calendar. Although the income servicing debt has improved over the years, it still remains high.
They operate in a world where consumers continually want more convenience, more choice, lower prices and a better experience. This statement is one that highlights the rise of technology in everyday life and it is also one that strikes a sense of fear to those who have not yet embraced it.
The big data divide: Traditional business models and a reliance on physical retail outlets still dominate our retail sector. The shopping experience is no longer a linear one, where a person simply enters a store, makes a purchase and leaves, never to return unless there is, of course, a complaint.
With multiple digital touchpoints, retailers can offer customers a degree journey which, ultimately, ensures that once they embark on a journey with them, they return — time and time again. Inbound and outbound touch points, including phone, digital and social across multiple devices, traditional direct mail and addressable TV are just a few of the avenues for brands to personally connect with consumers these days.
The event brought together some of the greatest minds in the industry who shared their valuable knowledge and provided innovative solutions in the customer experience sphere, all with the common goal of improving customer experience across Africa.Key operating metrics of the sector, which have been under pressure in the recent past are expected to show a slow but steady recovery supported by the boost in demand.
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