As shoppers are back in stores, retailers now need to determine which COVID innovations they will keep and how those measures will mature over the long term. This will help maximize the value of COVID innovations, bringing the benefits of digital to brick-and-mortar and scaling capabilities to accommodate long-term needs.
As inflation continues to slam consumers worldwide, alternative payment options such as Buy Now, Pay Later can go some way to helping alleviate the pain of higher prices. BNPL is an increasingly popular payment option, with loans usually incurring neither interest charges nor fees, and few require hard credit checks.
For CPGs, it’s no longer a matter of if but when the circular economy will supplant the traditional linear take-make-use-dispose model of consumption. The race to tap emerging sources of value and capitalize on the circular economy is well underway. The edge likely will go to companies that mobilize to take these seven steps.
Beyond the sales tax complexity of marketplace facilitator laws, states have used the Wayfair decision to implement new rules for marketplaces. From policing stolen goods to expanded income tax obligations, marketplace tax laws are far reaching. Here’s how they’ve changed, and how they’re impacting remote sellers.
Why set the way-back machine to 1996 and the lowly CueCat? Up until the pandemic, you wouldn’t have bought the idea of QR codes, given their cross-device issues, multiple apps needed and everyone asking, “What is it?” While necessity might have forced adoption, QR codes deliver convergence simply, without cute plastic devices.
Loyalty programs are essential to the overall brand experience. A transactional “do/get” value exchange establishes functional bonds, but this tactic alone is not enough to build deeper emotional connections and weather future storms. Emotional loyalty strategies will be among the most successful in a post-pandemic world.
Fragments derived from alternative data are essential to discover more granular consumer behaviors and lifestyles. This helps build better segmentation models and more appropriate customer journeys that offer delight experiences. Insights on consumer behavior and lifestyle can be gleaned through analysis of installed apps.
Home improvement shopping season is in full swing. Unfortunately, spring is also a sign that retailers are entering one of the most logistically challenging and costly returns seasons of the year. Here is a review of major returns issues following home improvement season, and what retailers can do to mitigate the fallout.
Some say shrinkflation is a sneaky strategy because businesses use the same packaging but give customers less, arguing it’s an attempt to deceive them. But many are making sure changes are available for consumers to see in some format. It’s the consumer’s responsibility to check the pack, but communication with buyers is key.