A recent study was conducted by PwC titled Global Consumer Insights Survey (GCIS). This was to gauge the consumer insights on the retail business as a whole, done across twenty-six countries and the territory of Hong Kong. It was widely predicted that traditional brick-and-mortar retail would face difficulties, but that is not exactly the case. Contrary to popular notions, shopping at physical stores actually increased for the fourth consecutive year of this marketing research assignment. Retailers will increasingly need to leverage artificial intelligence to improve their performance. They will also need to foster greater emotional connect with customers. Five key new trends have emerged with regards to smartphones and social media coverage. Smartphones are now used for routine shopping purposes as a gateway. Social media is now the top platform for digital marketing, especially with the rise of Instagram and Snapchat. Cyber security measures will need to be further stepped up as increasingly customers are feeling wary. Brand loyalty has actually increased for the top digital players.

Source:https://www.strategy-business.com/feature/Competing-for-Shoppers-Habits?gko=3c9e9

Uploaded Date:18 July 2018