The retail industry has been going through a state of drastic, rapid change which has been accelerated over the past two years. The headlines haven’t always looked good – empty shelves due to supply chain challenges, labor shortages, surging inflation, and the closing of many brick and mortar stores.
Moreover, consumers are shopping in radically new ways. Online sales/e-commerce is at an all-time high. Consumer confidence is dropping, leading to delays in certain purchases. And, after sales of Technology Products & Durables accelerated in 2021, growth is expected to stagnate in 2022.
All this change has forced retailers to rethink strategy, particularly when it comes to digital and omnichannel experiences. What is the right customer journey for tomorrow’s consumers? How can touchpoints be optimized? Which products and promotions will drive revenue? How can I drive demand and optimize conversions?
Stay tuned as retail hits reset.