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Retailers: Leverage Customer Data to Navigate Lower Spending Due to Inflation

Retail TouchPoints

The global financial shocks that started in 2020 have accelerated in 2022, with causes ranging from Russia’s invasion of Ukraine to recurring COVID-19 outbreaks and ongoing supply chain challenges. forcing retailers to grapple with remaining relevant to increasingly price-sensitive consumers. 7% increase.

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How Retail Businesses Can Use Customer Data to Enhance Targeted Marketing

Retail TouchPoints

in March 2020, consumer buying behavior began shifting. In addition, as the popularity of online ordering and delivery continues to skyrocket, marketers need to rethink how they communicate with and market to consumers. Reward Your Most Loyal Customers.

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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%

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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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2021 Update on GDPR and Its Impact on Brands and Consumers

GetElastic

Below highlights the rapidly growing risk of businesses being hacked and exposing your customer’s personal and this risk is not going away just because of government regulation. Annual number of data breaches and exposed records in the United States from 2005 to 2020. Consumers “own” their information. Source: STATISTS.

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Introductory Guide to International eCommerce, Part 1: Customer Data and Privacy

ESW

Accenture reports a compound annual growth rate of nearly 30 percent from 2014 to 2020 for cross-border eCommerce. Another report, from IPC , moves that statistic up a couple of years to 2020. eCommerce companies in developed markets need to recognize that such markets present tremendous opportunities for them to reach new customers.

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Online sales overtake 2020 figures and 30% higher than pre-pandemic levels

365 Retail

As it heads into peak sales season, the retail sector is well positioned to maximise on this growth, with additional analysis from Mention Me anticipating 5% more sales on Black Friday this year than in 2020. Health and beauty continues to grow, up 11% compared to Q3 2020 and 45% from Q3 2019.