Rich McMahon’s Post

Leverage data to create experiences and deliver value. 👆 The big takeaway from #RCCSTORE2024 - and there's opps for brands! Incredible 2 days at the Retail Council of Canada's STORE 2024. Great speakers from every aspect of the industry shared what they were working on in the year ahead. 3 key trends appeared: 1) DATA, DATA, DATA There was no escaping the importance of data. From collecting it to analyzing with AI to creating customer experiences.... Both brands and retailers are focused on ways to gather more data and use it to drive loyalty and gain market share. 2) EXPERIENCE MATTERS Online and in-store, retailers are focused on elevating the shopper experience. In-store this includes a lot of technology including digital shelf edges and product discovery. It's also looking at self-checkouts and improving the experience for older consumers. Online it's focused on fast search, easy checkout and detailed product descriptions and reviews. This is particularly critical when engaging Gen-Z shoppers. 3) HIGHEST VALUE WINS Consumers are heavily influenced on where to shop and what to buy by the perceived value. While price is certainly a major factor, convenience and health benefits also play a role. Linked to the first two, understanding how the shopper defines value is critical in developing strategies that deliver results. This is how retailers are viewing the year ahead: it is highly beneficial for brands to contribute in these areas! If you need assistance in gathering consumer insights or securing more product reviews.... DM me as I and Caddle would love to provide the voice of the Canadian consumer to your strategy! ------------------------------------------ Get more product off shelves and into baskets with the latest in CPG, retail & consumer trends at 10:30am M, T, H & Sat by following Jared! Drive trial & get reviews with Caddle - DM me to learn more. Photo Credit: Tanmay #shoppermarketing #ecommerce #sampling #CPG #marketingstrategy #marketing #omnichannel #omnichannelmarketing

These days we are all listening different voices and opinions regarding the eCommerce growth potential. Honestly, it is a good debate where we find two different schools of thought. i) now that the pandemic is over, eCom penetration is going down and it is no longer a growth lever for brands. It was the pandemic that made it explode and now it will be back to limited share in the market. ii) the pandemic has brought accelerated growth to eCom. The growth expected to come in 5-6 years came all of a sudden in less than 1 year. Now that we are back to "normality", omnichannel consumers are back to physical stores. But those consumers are behaving differently, as many of them have experienced online shopping for the first time (with positive experiences in majority of cases), and at least 30% are now considering buying online categories that before the pandemic they would have never thought they would purchase digitally. What do you think? Maybe, having a look to this chart helps. Consumer behavior changes are here to stay, and while it is true that eCom has lost penetration in the last year, looking the sales evolution with a wider perspective helps a lot to get to the right conclusion. Digital Sales will keep on being the largest source of growth for categories. Thanks to Benedict Evans for the chart. #ecommerce #ebusiness #digitalcommerce #digital #digitalmarketing #digitaladvertising

🎁 The stage is set for a dynamic holiday season! Key Takeaways from our 2023 Holiday Preview: ���� Holiday sales are expected to grow at low- to mid-single digits 🛍️ Retailers are gearing up for an early start, with promotions kicking off on October 1st—six weeks ahead of tradition. 💰 Consumers continue to prioritize value, seeking the best deals through an omnichannel approach. Subscribers, stay ahead of the trend with the full 5-page report at retailstat.com. Get ready to make this holiday season a success! #HolidayShopping #RetailTrends #Retail #RetailStat #GetTheScoop #Holidays2023 #DataAnalytics #DataScience

🔍🛍️ Where are consumers shopping – in-store or online first? 🔍🛒 In the dynamic world of retail, understanding consumer behaviour is crucial for staying ahead. That's why we created the 'UK Omnichannel Retail 2023' report, designed to shed light on this burning question within the industry. Our comprehensive UK Omnichannel Retail report offers a unique analysis of the social and demographic factors that shape channel preference. This invaluable resource empowers businesses to grasp the shifting landscape of consumer behaviour and its impact on both online and in-store market trends. Key highlights of the report include: 👉 Channel preference breakdown by generation 👉 Channel preference analysis based on income levels 👉 Channel preferences influenced by workplace environments 👉 Channel preferences across various retail industry categories 📊 Plus, retail category breakdown showing shopping channel split by age, income, work location, and importantly shows you the net outcome – online first or store first! Don't miss the opportunity to gain a competitive edge in the retail arena! Follow this link to explore the findings and secure your copy of the 'UK Omnichannel Retail 2023' report today: https://lnkd.in/e2HRGEwY #RetailInsights #ConsumerBehaviour #OmnichannelRetail #UKRetail #MarketTrends #instorevsonline #shoppingchannels #consumerpreferences

🎄 Adapting to the 2023 Holiday Shopping Trends: Insights for Marketers As we dive deep into the holiday season, it’s crucial to understand the evolving consumer behaviors. A recent McKinsey report highlights key trends that marketers should pay attention to: 1. Extended Shopping Season: Consumers are spreading their holiday spending over several months, starting early and ending late. This shift offers an opportunity for prolonged marketing campaigns and sustained engagement. 2. Cautious Spending: Despite their willingness to spend, consumers are more cautious this year. They’re looking for the best deals and are interested in promotions, especially personalized ones. 3. The Rise of BNPL: “Buy Now, Pay Later” plans are increasingly popular, particularly among younger consumers. Over 50% of Gen Z shoppers are expected to use BNPL for their holiday purchases. 4. Omnichannel Shopping Experience: With 85% of consumers still preferring in-store purchases, a blended online and offline shopping experience is more important than ever. As marketers, we can leverage these insights by crafting campaigns that offer value, flexibility, and a seamless shopping experience. Whether it’s through personalized promotions, accommodating BNPL options, or enhancing the omnichannel experience, there’s ample scope to connect with and captivate the holiday shopper. Let’s discuss! How is your brand adapting to these trends? Share your strategies in the comments. #HolidayShopping #MarketingTrends #ConsumerBehavior #RetailStrategy #BNPL

🏬 🖥️ 🛒 Is there any other time of year that sees such engagement from consumers across multiple shopping channels? 💳 Buy now, pay later, a rise in the experience economy, and an increasing mix of omnichannel shopping* are just some of the trends expected to be seen this holiday season. ✋ Yet lots of opportunities for insight gathering will be missed becasue December not considered to be a crucial month for consumer research! 👊 So let's challenge that. If you want to get a jump on the competition and gain greater understanding of your shopper audiences during this crucial time, then get in touch! 📣 Brand Genetics' approach to consumer closeness, based on the principles of behavioural science, allows us to directly observe and engage with consumers to unearth their true motivations across multiple channels, from in-store safari's to online shop alongs. This process enables us to delve into the implications and future opportunities for your brand. #shoppingbehaviour #holidayseason #brandstrategy *McKinsey 2023: Holiday shopping in 2023

Retailers, here are five eye-opening charts that will help you dominate the market by 2024 and what we can learn from them: 1️⃣ Embrace the power of omnichannel: Seamless shopping experiences across all platforms are the name of the game! Whether it's in-store, online, or via mobile apps, make sure your customers enjoy a consistent and convenient journey. 2️⃣ Deals, deals, deals! Consumers love a good bargain, and discounts are the secret weapon to boosting sales. Tempt your customers with irresistible offers and watch your profits soar! 3️⃣ Retail media is booming! Advertisers, pay attention! The growth of retail media shows no signs of slowing down. Collaborate with retailers to maximize success and reach your target audience effectively. 4️⃣ Personalization is key! Tailor your marketing efforts to fit individual preferences. Engage customers with personalized recommendations and offers, making them feel special and valued. 5️⃣ Future-proof your strategies! Stay ahead of the game by adapting to changing consumer behaviors and emerging technologies. Innovate, experiment, and embrace new trends to ensure your success in the long run! Get ready, retailers, to revamp your strategies, the future is bright! #RetailRevolution #FutureOfShopping #RetailTrends

The National Retail Federation (NRF) is forecasting moderate growth for retail sales in 2024, with a range of 2.5% to 3.5% [US retail sales forecast predicts moderate growth for 2024]. This follows a strong 2023 and reflects a return to a more typical pre-pandemic growth pattern. Here's a breakdown of the key trends: Ecommerce Dominates: The biggest growth is expected in online sales, with a projected increase of 7% to 9% year-over-year. This highlights the continued shift towards a digital-first shopping experience. Brick-and-Mortar Adapts: While physical stores may see slower growth, they're not going anywhere. Retailers will likely prioritize using technology to enhance the in-store experience, like AI-powered customer service or seamless integration with online channels. What this means for you: Embrace omnichannel retail: Ensure your brand offers a cohesive shopping experience across all channels, online and offline. Invest in digital marketing: Reach your target audience where they are - online! Utilize targeted social media campaigns and optimize your website for a smooth buying journey. Prioritize customer experience: Both online and in-store, focus on creating a positive and personalized experience for your customers. The future of retail is all about providing a seamless and convenient shopping experience, regardless of how customers choose to interact with your brand. What are your thoughts on the retail landscape in 2024? #retail #retailtrends #ecommerce #omnichannel #customerexperience #NRF #intelliasretail

Fascinating #Retail insights out of a new report shared by Path to Purchase Institute! ⬇️ We’ve observed these trends in our conversations with our customers and other retail leaders – which do you expect to impact your #eCommerce business the most? 💬 🌐 Unified commerce is winning out over omnichannel, with retailers working to streamline not just the customer experience, but all business operations too. 📦 The vast majority of customers expect fast, free delivery – no matter where they make their purchase. 🏬 Brick-and-mortar experiences still matter; physical touchpoints like in-store browsing, BOPIS and in-person returns contribute to 41% of online sales in the U.S. and Canada. 📱 Consumers ages 45 and younger are almost 4x more likely to research products on social media. https://hubs.la/Q02vc4Dk0 #OmnichannelCommerce #UnifiedCommerce #SocialCommerce #BOPIS

In the dynamic world of consumer preferences, connecting at a deeper level is paramount. That’s why at Catalina UK, we believe that a having a robust retail strategy is the key to foster authentic, long-term loyalty with a personal touch. Here are just a few of our top tactics: 1. Be ready to embrace change: adaptability is the cornerstone of success, ensuring retail strategies align seamlessly with evolving consumer expectations. 2. Follow the shoppers lead: the best way to understand consumers is by following their cues. By actively listening and responding to their needs, businesses can forge stronger connections and build lasting loyalty. 3. Understand predictive analytics: leveraging data insights is crucial for staying ahead. It is important to be aware of the power of predictive analytics to anticipate consumer behaviour, allowing businesses to tailor experiences and offerings proactively. 4. Effective engagement: building loyalty goes beyond transactions. It’s crucial that retailers foster meaningful engagement through personalised interactions, creating a genuine bond with consumers. 5. Deliver the best customer experience - on and offline: In a digital age, a seamless and consistent omnichannel experience is paramount. Want to know how to best implement these strategies? Drop a comment below, and our team will be more than happy to discuss how Catalina UK can help elevate your profitability and drive conversions. 🛒 📈 #shopandplay #gamification #personalisation #retailtechnology #customerinsights #catalina