Post by account_disabled on Dec 26, 2023 12:51:53 GMT 5.5
The consulting firm Bain&Company has taken advantage of the data extracted on the results of retail Christmas sales in 2020 to draw a balance and point out the new perspectives of the sector for the future in its new report (“ Ten Resolutions to Ring in the Future of Retail” ). Among the main conclusions drawn by the document, the following are worth highlighting: – Retail sales during the Christmas campaign grew by 8.4% compared to the same period in 2019. This is explained by the replacement of expenses on services that involved mobility or group leisure (trips and dinners, for example ) for products such as groceries, electronic devices or products to improve time at home due to the pandemic. – Despite COVID-19, in November and December, sales in physical stores increased by 3.6%. E-commerce, for its part, reached a historical record with a growth of 26%. – Retailers worked on offers and promotions prior to the peak days to encourage early sales and prevent shortages and delays in a time dominated by home deliveries. retail warehouse 10 objectives highlighted by Bain&Company to help retail in its transformation
Show that you know your client According to various studies and metrics, including the Net Promoter Score , retail firms that encourage more personalization of their B2C communication report a greater volume Phone Number List of sales and external recommendations. 2. A better assortment A good combination for retailers is exclusive offers with national brands + private label products + limited distribution offers and bundles of value-added products or services. 3. Redesign the distribution network Bain&Company advises redesigning physical spaces so that the shopping experience is unique, creative, omnichannel and, in the context of the current pandemic, as safe as possible. This investment will subsequently translate into greater customer confidence. 4. Develop a winning ecosystem Encouraging strategic partnership and collaboration with third parties can exploit a company's reach. A good example of this is Amazon, which has even benefited from the inclusion of competitors on its platform and has gained in data volume and popularity.
Make your own list of potential trades “In disruptive periods, strong companies that remodel their organizations and invest in growth, often through mergers and acquisitions, tend to emerge even stronger,” explains the consultancy. Successful businesses have to be selective with M&A operations and know when to divest to maintain economic balance. 6. Accelerate your sustainability actions Increasingly, consumers positively value companies with green goals and strong corporate ethics and punish those that do not speak out. 7. Develop the principles of diversity, equality and inclusion Diversity within a company can positively impact customer operations when it comes to connecting and empathizing. According to the report, 64% of consumers “say they are more likely to consider or purchase a product after seeing an ad that they consider diverse or inclusive.” 8. Manage your human potential more efficiently Motivating, empowering and listening to the employee is essential for good management; Because in this way human investment will be exploited to the maximum and this will translate into greater growth and profitability. 9. Make “omnichannel” profitable Retail firms can increase the value of their omnichannel through strategies such as greater speed in deliveries or reducing costs via automation solutions.
Show that you know your client According to various studies and metrics, including the Net Promoter Score , retail firms that encourage more personalization of their B2C communication report a greater volume Phone Number List of sales and external recommendations. 2. A better assortment A good combination for retailers is exclusive offers with national brands + private label products + limited distribution offers and bundles of value-added products or services. 3. Redesign the distribution network Bain&Company advises redesigning physical spaces so that the shopping experience is unique, creative, omnichannel and, in the context of the current pandemic, as safe as possible. This investment will subsequently translate into greater customer confidence. 4. Develop a winning ecosystem Encouraging strategic partnership and collaboration with third parties can exploit a company's reach. A good example of this is Amazon, which has even benefited from the inclusion of competitors on its platform and has gained in data volume and popularity.
Make your own list of potential trades “In disruptive periods, strong companies that remodel their organizations and invest in growth, often through mergers and acquisitions, tend to emerge even stronger,” explains the consultancy. Successful businesses have to be selective with M&A operations and know when to divest to maintain economic balance. 6. Accelerate your sustainability actions Increasingly, consumers positively value companies with green goals and strong corporate ethics and punish those that do not speak out. 7. Develop the principles of diversity, equality and inclusion Diversity within a company can positively impact customer operations when it comes to connecting and empathizing. According to the report, 64% of consumers “say they are more likely to consider or purchase a product after seeing an ad that they consider diverse or inclusive.” 8. Manage your human potential more efficiently Motivating, empowering and listening to the employee is essential for good management; Because in this way human investment will be exploited to the maximum and this will translate into greater growth and profitability. 9. Make “omnichannel” profitable Retail firms can increase the value of their omnichannel through strategies such as greater speed in deliveries or reducing costs via automation solutions.
