[Gareth Pearson] A transformation is in motion amongst shoppers and retailers country-wide. Consumers are becoming more discerning and demanding, and retailers and manufacturers are under pressure to innovate, offer quality and savings - all in one eco-friendly package! Here are some interesting trends for the retail sector that I've identified for 2013.
[Gareth Pearson] Own brands, store brands, dealer own brands, home brands... call them what you will, private labels are here to stay and not just as in-the-background, budget-friendly brands, aimed at cash-strapped consumers but rather as significant players in the retail space. This growth provides a unique opportunity for South African retailers to connect with their customers as never before.
[Gareth Pearson] Sustaining customer interest and loyalty in the current market is difficult and, while retailers have the option of offering sales and products at discount prices, what do manufacturers do? Doing the same old thing, the same old way just isn't going to cut it in a market where consumers are already squeezed and looking for improved products that offer increased value. The answer - innovation.
[Gareth Pearson] Retailer's in-store out-of-stock rate continues to cost billions in lost revenue, with global studies showing the rate has remained unchanged at 8% over the past 10 years.
[Gareth Pearson] Following company research, there have been several noticeable shifts in retail marketing in the past with two predominant trends emerging that retailers seem to be tapping into in developing their marketing strategies.
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