The CPG industry is evolving faster than ever. Nearly everything about the category has changed, including the way brands develop and bring products to market. Also, inflation puts pressure on marketing budgets, loyalty is weakening and younger consumers have higher expectations and tend to be skeptical of advertising efforts.
Retailers should consider the impact their social strategy elements have on customer trust. This includes your choice of social platforms, the payment methods you accept, how you screen orders for fraud and how you safeguard your brand presence on social media. Identify the platforms your customers trust the most.
For the past decade, brands have scrambled to serve millennials, the first internet-obsessed generation that forced them to rethink ecommerce selling strategies. Now, they are reinventing as Gen Z gears up to enter the workforce and fast becomes a formidable force in the economy. Is your ecommerce platform ready?
Companies need to be more inclusive and diverse to remain competitive by attracting upcoming generations, while creating opportunities where they don’t exist today, said Mark Irvin, Chief Inclusion, Diversity and Talent Officer. He made his remarks during a keynote presentation at Ecommerce Operations Summit 2021 in Nashville.
A new report from the Retail Industry Leaders Association (RILA) and McKinsey & Co. highlights how sticky the digital shift has become over the past year, and how important personalization, supply chain optimization, omnichannel and sustainability have become to ensure survival in the new landscape.
As COVID-19 restrictions tighten once again, consumers will be staying away from stores in droves on Black Friday, with CommerceHub reporting 70% would not be venturing out for deals the day after Thanksgiving. 71% said they planned to shop online during Black Friday and Cyber Monday, holding out until then for better deals.
We’ve been talking about “the new normal” since the pandemic began, but it’s hard to put a finger on it. For millennials at least it seems to be ecommerce. The last generation born in the 20th century is a decidedly 21st-century cohort, and you can find them on Facebook and Instagram. Here’s how to reach them over the holidays.
Although some shoppers are looking forward to returning to stores, others will be more inclined to continue to shop from the safety of their home. The shift to ecommerce caused by COVID-19 will linger well after social distancing policies are lifted. But behavior varies from shopper to shopper and between categories.
Given the increased focus on sustainability and an Instagram-fueled focus on one-of-a-kind, vintage items, the growth and revenue potential of recommerce was inevitable. To be successful with this approach, you need to ensure that the customer experience is at its best, which is challenging given the logistics. Here are some tips.
Free On-Demand Webinar: Oracle NetSuite has conducted a survey of shopper expectations and retailer planning, surveying 2,000 consumers and 400 retail execs. Join Art Wittmann, editor of Brainyard and Chris Benner both of Oracle NetSuite for high-level findings and recommendations for retail businesses over the next decade.