What Are the Biggest Retail Industry Challenges in 2019? Infiniti Research Reveals Four Key Roadblocks to Expect This Year
LONDON--(BUSINESS WIRE)--Mar 11, 2019--A well-known market intelligence company, Infiniti Research, has announced the completion of their latest article on the biggest challenges in the retail industry right now. This article gives a comprehensive overview of some of the unique challenges faced by modern retailers and also discusses the key strategies to overcome these challenges.
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Retail industry challenges 2019 (Graphic: Business Wire)
The rising market competition and the waning brand loyalty among customers are posing major challenges for companies in the retail industry. Companies in the retail sector must find new and innovative ways to keep abreast of the competitor strategies and thrive in the market. Retailers also face challenges in terms of differentiating themselves from the other players and consequently improving their visibility in the market.
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Retail industry challenges 2019
Consumers moving to multi-channel buying experiences
As consumers are seamlessly moving between online and brick and mortar platforms for shopping, they are becoming more open to retailers who can facilitate these transactions. So, it has become vital for retailers to heed to such trends and focus on creating top-notch customer experience across all platforms.
Demand for impeccable customer experience
The level of effort taken to enhance customer experience is directly proportional to the customers’ likelihood to engage in repeat purchases with a brand. However, this requires retailers to deep-dive into customer details in order to understand their customers better. Providing personalized experiences by identifying customer preferences contributes to great customer experiences.
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Siloed marketing infrastructure
Today companies are required to engage with their target customers across various platforms. Multi-channel communications are essential in driving the creation of seamless customer experience. However, with so many different channels, customer data could be siloed. All the elements of the marketing department should work in synergy to ensure that customers are not overwhelmed with conflicting or repeat messages.
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About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit:https://www.infinitiresearch.com/about-us
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CONTACT: Infiniti Research
US: +1 844 778 0600
UK: +44 203 893 3400
INDUSTRY KEYWORD: RETAIL OTHER RETAIL
SOURCE: Infiniti Research
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PUB: 03/11/2019 09:46 AM/DISC: 03/11/2019 09:46 AM