Concept Stores: the what, how, and why.
Concept stores are becoming more and more popular in recent years. Why? Because they offer more than just products, it’s a lifestyle. Consumers can find and purchase products online with only a few clicks so physicals stores have to offer something more to stay relevant. However, while online stores provide price competitive products and […]
Emotions and Purchasing Decisions: How Retailers Can Use Science to Improve Customer Loyalty
Up until recently, understanding consumer behaviour was done through analysing behaviour in store. Now we have new technology like the functional magnetic resonance imaging (fMRI) which can look inside the consumer brains to help retailers understand their needs better. The Science: The self-declared savvy shoppers may not want to read this, but it’s scientifically true […]
Innovation by choice can be the answer to recover from Covid-19 pandemic
Innovation can take the form of a product, a process, a way of working or doing things, an organizational structure, a recruitment method, a business or revenue model, or even how you motivate your employees. Here is where creativity, observation and data analysis can help enhance business innovation. There are two ways to approach innovation […]
3 Types of Mid and Post Pandemic Spenders
The Covid-19 pandemic has changed the way consumers shop. Different types of consumers have emerged from the crises, each with their own unique needs. Revenge spenders, for example, don’t need a motive to spend but delighting them with an optimal brand experience will help retailers gain long term loyalty. Resetter spenders on the other […]
Data-driven turnover-based rent is the solution for landlords and retailers.
The retail industry has taken a major financial blow due to the lockdown restrictions across the UK. In spite of the government offering business rate holiday, grant funds, loan schemes, commercial rent protection, the PWC and Local Data Company reported that 17,520 chain stores closed down in 2020, while only 7,655 opened; they expect […]
The importance of in-store analytics in a time of change.
The Covid-19 pandemic has accelerated change in consumer behaviour; for example, online purchases are at their highest while the frequency of purchases are low. Most retailers are aware that consumers will not revert back to their pre-pandemic ways when brick-and-mortar stores reopen on April 12th. Therefore, most have taken measures to prepare for their […]
7 advantages of brick-and-mortar stores in the post pandemic era.
Brick-and-mortar retail stores have been given the green light to reopen in England on April 12th; and further good news comes from Sharecast which predicts footfall to rise 47.9% upon reopening. Now seems to be the perfect time to create a seamless omnichannel shopping experience in order to reengage your old customers and […]
Consumer behavior in brick-and-mortar stores during Covid-19 and 2021 predictions.
Key Takeaway: UK consumer sentiment has improved to post pandemic levels. 61% of UK population have either been financially unaffected or saved money during the pandemic. UK population have £12.8bn as savings. As we look forward to coming out of lockdown and (hopefully the final) reopening of non-essential […]
Roadmap to recovery: 8 ways to get your retail store ready for reopening based on new shopping trends
Whether you’re an online, brick-and-mortar, or multichannel retailer, there is no denying your customers’ behavior has shifted since the outbreak of Covid-19. The physical stores will always be an important touch-point for customers’ shopping journey; however, the role of the physical store is evolving as consumers demands, priorities and needs continue to change […]