While retail leasing rates have come down in certain markets, new retailers entering the marketplace are still reluctant to pay high rents. Many risk-averse brands are reluctant to sign longer-term leases without first verifying return on investment
Sustainable fashion is often linked with ethical fashion, which is a similar advocacy framework that aims to reduce human rights violations such as the use of child labor in the manufacturing process
Consumers now expect and demand a consistent experience across all devices, often commencing their shopping journey on one platform then traversing multiple touchpoints before ultimately deciding to purchase on a different channel
As we start to return to “normal business” it may be tempting for retailers to return to pre-pandemic ways of thinking, but as numerous recent studies have shown, the gradual migration away from brick and mortar and toward e-commerce channels is likely to continue to accelerate, even post-COVID
How can brands and retailers improve these conditions and collect real-time, store-level data while filling gaps in-store where retailers are struggling? The answer lies in more frequent, holistic, and brand-specific merchandising
Although the pandemic was the catalyst for many tragedies, it has also served as a turning point for public perception around worker health. This refreshed awareness has caused many retail businesses to look for ways in which they can protect their workforce and create a safe and healthy working environment.
Traditional high street retail was already going through tough times before the pandemic and has suffered even more with lockdowns and store closures. Retailers need to recognise that consumer behaviour and spending habits have changed, with many now preferring ecommerce to brick-and-mortar shopping
Our brains have physical structures that react to and reinforce rewards as a mechanics for behavior change. We love challenges. We love choices. We love interacting. We love winning
Rather than simply providing discounts without any sort of proper strategy or purpose, retailers need to instead focus on providing consumers with promotions that are of real value to them
The pandemic certainly hasn’t made business any easier. For most organizations, it has thrown up new additional challenges and made it even harder to compete. So perhaps the most important question for any online business is this: How do I invest to clearly differentiate my business today, and how do I maintain that differentiation as we move into an uncertain future?
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