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Transformation in Retail: Secondhand Marketplaces and the New Consumer

Retail TouchPoints

As we move into a second pandemic year marked by unprecedented shifts in consumer preferences and behaviors, one trend stands out: shoppers are turning to resale more than ever to optimize their at-home lifestyle. For most consumers, taking the time to focus on their space was something of a luxury before the pandemic. Here’s why.

Consumer 155
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Data Shows Customers Might be Resistant to AI Shopping Recommendations — Here’s what C-Suite Executives Should Know

Retail TouchPoints

The problem is, consumers don’t seem to want them. A survey we recently conducted of 2,000 consumers found that the vast majority of shoppers (85%) were uninterested in using AI to help make purchasing decisions. And this problem will only become more intractable if consumers can’t shake their skepticism about AI.

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Tools, Value Apparel and Home-Delivered Wine Top List of Fastest-Growing Retailers

Retail TouchPoints

2022 Hot 25 Retailers list — which identifies the brands that boosted their domestic sales by the highest percentages in 2021 compared to 2020 —exemplify three strong COVID-era trends: do-it-yourselfism, consumer preferences for more casual and value-priced apparel and increased alcohol consumption. The Kantar-NRF U.S.

Apparel 224
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From headlines to shopping baskets: How U.K. consumers responded to changing C-19 restrictions in 2020

Profitero

over the last 9 months, Amazon search trends gave insight into how consumers responded. From panic buying essentials to adopting new hobbies and embracing the outdoors, consumer behaviour shifted dramatically in response to ‘the new normal’. consumers responded to changing C-19 restrictions in 2020 appeared first on Profitero.

Hobbies 78
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Fanatics Taps Former Red Bull Exec to Head Marketing for Collectibles Division

Retail TouchPoints

Prior to Red Bull, he spent 10 years in traditional CPG at SC Johnson where he worked on a number of large-scale consumer brands. ” Turner is now tasked with helping to bring in more fans to the trading card hobby and collecting spaces.

Marketing 258
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Scarred by the 2008 Recession and COVID, 48% of Gen Z Frequently Shops at Discount Stores

Retail TouchPoints

That’s according to a recent study by the ICSC that surveyed Gen Z consumers, defined by the Pew Research Center as those born between 1997 and 2012. Of course, retailers and shopping centers need to continue working hard to attract Gen Z consumers, 60% of whom would rather spend their money on experiences than material items.

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JOANN Files for Bankruptcy Due to Drop in Consumer Spending

RetailWire

Due to a steep drop in discretionary spending by customers, JOANN, the 81-year-old fabric and craft retailer based in Ohio, has filed for bankruptcy.

Consumer 111