On the one hand:
- high market saturation,
- more and more products that seem much of a muchness,
- demands for a wider variety of products that also meet higher quality standards.
On the other hand:
- subdued consumer climate and more discerning purchase decisions
- and bargain hunting that is just as “in” as buying luxury articles.
Current buzzwords like e.g. regionalism and sustainability are further factors to be considered. It is vital to create a clear identity by developing a strong and compelling brand, innovative product concepts as well as appropriate positioning and customer retention strategies.
The retail trade is changing at an unprecedented rate, bringing great challenges and opportunities. Multichannel is almost a must-have and, even when the corona crisis is over, will still be an important success factor since no one sales channel can satisfy the customers’ sophisticated and complex needs. The brick-and-mortar trade has reacted to the growing popularity of internet and TV shopping by offering customers many different benefits. It will be exciting to see whether these benefits retain their relevance. It will also be important to observe whether customers continue to use different channels for pre-purchase information than for making the actual purchase. Whatever happens, extensive services and competent advice will remain critical success factors.
You can rely on the market research experience of Produkt + Markt to help you identify the right steps to promote your sales, optimize your services and your customer communication.
