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Top 2020 Retail Challenges and How To Future-Proof for 2021

Retail TouchPoints

According to Bazaarvoice, 81% of consumers planned to purchase holiday gifts this year, with 61% stating they would spend the same as last year. in June 2020, which is significantly more than its April 2020 projection of a 3% decline. Challenge 2: Consumer Confidence — Slow to Recover. However, IMF projects a 5.4%

Retail 279
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5 Ways COVID-19 has Reshaped Consumer Behavior

Retail TouchPoints

With COVID-19 case counts declining and vaccination efforts underway, eager consumers and retailers are both looking hopefully toward a future return to normal. The pandemic has forever altered consumer behavior, and this year in particular consumers find themselves in a kind of limbo — hope is on the horizon, but “normal” isn’t here yet.

Consumer 347
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Nordstrom Expands Retail Media Offerings to Third-Party Channels

Retail TouchPoints

Following a successful 2021 pilot that offered brands sponsored on-site ads, Nordstrom Media Network (NMN) has expanded to include off-site channels including paid social and display ads, YouTube video, search and shopping ads and affiliate campaigns.

Channel 246
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10 Consumer Trends Shaping the Future of Retail

Retail TouchPoints

Seismic shifts in consumer trends accelerated by the pandemic will have long-lasting implications for the retail industry at large. Future Commerce partnered with Method + Mode to conduct broad consumer research over a period of three months ending in January 2021.

Consumer 340
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Omnichannel Fulfillment, BNPL and Social Commerce Contributed to Holiday 2021’s Digital Success

Retail TouchPoints

Most experts expected holiday 2021 to be a digital success, and the season didn’t disappoint: global sales hit $1.14 trillion in 2020, while U.S. Additionally, total order count was up almost 10.45% from holiday 2020 levels, according to data from Klaviyo. trillion , up from $1.1 18 and Dec.

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Data Will be Key to Retail Success in 2021

Retail TouchPoints

With these sweeping shifts in consumer needs, retailers relied on data more than ever to quickly position themselves to create the kinds of offerings and experiences that consumers expected during this unprecedented period. Real-time data is the key for 2021. CPG will thrive with D2C. The auto industry speeds to digital.

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Content Marketing in 2021 and Beyond

Kissmetrics

How’s it doing in 2021? Video and voice search are leading the charge in 2021. 70% of consumers prefer to learn about a product from an article rather than an ad , and 4x more would rather a video than an article. Tactics and channels that worked last year, or even last month, might not deliver the same robust results today.

Marketing 311