Not so long ago, catalogs fell out of favor in the marketing world. During the 2007-2008 recession, retailers sought ways to cut costs, and many dramatically changed or eliminated catalog production as ecommerce and social media advertising took off. Millennials, whose collective wealth could reach as much as $24 trillion by 2020, are helping to revitalize catalogs in an era of ecommerce and social media advertising.
Throughout 2018, retailers focused on providing creative, interactive and friction-free shopping experiences for customers. In 2019, you can expect this evolution to accelerate, with personalization and obsessive customer focus at the heart, and new influencer marketing catering to a more individualized consumer experience.
While there were several closures of traditional mainstays who failed to fully adapt to changing consumer needs and expectations, brick and mortar is finding new life through deeply integrated and personalized shopping experiences. As the New Year approaches, here are a few things we can expect to see from the retail industry.
Loyalty, as they say, must be earned. For retailers and other merchants in a crowded and competitive marketplace, earning customer loyalty is a top priority. Here is how retailers can leverage connected customer data to drive greater loyalty that leads to retention, repeat purchases and business growth.
In 2018, IT is still worried about letting colleagues into their commerce platforms for fear it will slow down site performance and that non-technical colleagues will mess up a system they ultimately have to fix. Discover how a little distance and trust, as well as some technology tools, can improve this dynamic.