Industry Trends
The retail industry is characterised by its rapidly changing nature, driven by evolving consumer preferences, technological advancements and shifting market dynamics.
- General retail is expected to continue its rapid online growth, while physical shopping centres remain in high demand.
- Price plays a crucial role in online consumer behaviour, necessitating strategies to offer competitive prices and effective product cataloguing.
- Retailers must facilitate seamless transitions between online and offline channels as consumers increasingly engage in multichannel purchasing experiences.
- The challenge for retailers lies in enhancing their digital presence while reinventing their physical storefronts to meet modern customer expectations.