Omnichannel strategies in retail Archives

By Peter Ludi, Business Development Executive at redPanda Software While the environment for South African consumers will likely improve gradually over the course of the second half of 2024 off the back of better-than-expected inflation figures and an easing of global price pressures, consumer spend will likely remain constrained. This reality means retailers will need to stay ahead of competition to compete for valuable customer spend. As the recent National Retail Federation: Retail’s Big Trade Show held in New York recently proved, the world is entering the digital age in the true sense of the word at breakneck speed, and retailers around the world have no choice but to react, deploy and iterate. The conference, with more than 40,000 attendees, 1000 exhibitors and 450 speakers, is a...

By Nikki Quinn, retail lead for South Africa at GfK – an NIQ company Given the diversity of the market — with varying levels of digital maturity, lifestyle and income — it’s important to understand the evolving needs and key purchase drivers of diverse consumer segments as one size doesn’t fit all. South African consumers face a difficult economic environment, characterised by high inflation, low economic growth and persistent load shedding. These challenges have helped to exacerbate the already wide divide between different population groups, making it more important than ever for brands and retailers to craft omnichannel channel strategies tailored to the needs of different segments. Like their global counterparts, most South African consumers expect frictionless experiences from bra...

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Retail is in the midst of the biggest technology paradigm shift yet: Insights from NRF 2024 New York

Omnichannel strategies: One size does not fit all in South African retail