17.05.2024 Today’s Insights on UK and US Retail Developments, from Retail Insight Network and Others AG
Dear Students,
What’s new in customer experience these days? Stores are back!
Big box retailers are returning, and in some cases, newly-emerging, as customers share a preference for using as many of their senses as possible to fully “experience” a product prior to purchase. In the US, this positive trend is exemplified by Wayfair, a 20+-year-old e-commerce retailer with 14M+ items from 11K+ global sellers, who is opening its first large-format brick-and-mortar store for shoppers to get “closer” to their offerings. https://www.cnbc.com/2024/05/16/wayfair-to-open-first-large-store-outside-of-chicago.html
Of course, brands must communicate consistently across all channels, to successfully generate trust and build loyalty. And while data on UK store openings is mixed, major UK consulting firms are, relatedly, communicating that consumers clearly want a “seamless omnichannel experience.” https://www.retail-insight-network.com/features/top-10-retail-trends-shaping-the-future-of-shopping-in-the-uk/
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Retailers are leveraging cutting-edge tech like omnichannel strategies and AI to enhance customer experiences and fuel business growth.
www.retail-insight-network.com
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Some promising news supporting the trend towards post-Covid in-store shopping can be found within the UK, too, as several major chains, including Toys Rus, Sephora and others, are also “going physical” to accommodate customers’ increasing keenness for multisensory experiences. Details can be found in the articles below.
As global post-pandemic commerce moves forward, it’s a great time for ambitious international students like you to launch and build careers in the West!
Happy shopping this evening – in-person, online, or both!
Best,
Amy-Louise