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Why Inflation Doesn’t Impact Everyone the Same Way?
While it would be nice to say it’s been a long time since retail was met with a singularly dominant challenge, the global cost-of-living crisis has picked up the reins from where COVID-19 left off.
This is certainly true in the retail world as the culmination of asking all the right questions prior to the holidays leads to hope that it positions retailers for a successful selling season. However, inflationary and economic pressures have set the stage for shifting holiday priorities. Here are a few that are most top of mind for retailers.
The retail space is entering a period of change. There is no denying the effects of the 2020 pandemic have changed consumers’ shopping habits. George Mason University’s Center for Retail Transformation invited four panelists to explore the state of retail in a time of economic uncertainty.
Center for Retail Transformation partners with TruRating
George Mason University announced today that the Center for Retail Transformation at the university’s School of Business has entered into a partnership with TruRating, a customer experience and insights company with offices in London, Atlanta, and Sydney.
Webinar Recap – Consumer Behavior in Times of Inflation
An increase in inflation has prompted shoppers to change their spending habits, especially in the retail sector. Joe Skorupa, retail consultant and Editor at Large for RIS News, an EnsembleIQ media portfolio, teamed up with TruRating’s Chief Data Officer Gareth Johns to discuss the changes in consumer behavior in times of inflation.
Customer loyalty… is there anything more elusive, yet more vital, to a retailer? And right now, with inflation, fuel price hikes and shortages affecting shopping behavior across the board, customer retention is even more essential.
How top retailers are staying competitive when consumers are shopping less. Inflation is hitting 40-year highs across the globe. Combined with price hikes due to shortages, we’re seeing some real impacts to shopper behaviors.
Webinar Recap – Conversion, Loyalty, and Repeat Visits
This month’s webinar focused on Conversion, Loyalty, and Repeat Visits. Our Chief Data Officer, Gareth Johns, highlighted the three main areas to achieve customer loyalty, sale conversion, and repeat in-store and online visits.
Webinar Recap – Increasing ATV with consumer feedback
Did you know that you can increase your store’s Average Transaction Value by simply using customer feedback? Our webinar series provides retail industry insights through our polling research and case studies to better equip retail professionals.