Consumer buying behaviour data can help retailers in acquiring customers, developing new products, and building loyalty.
To increase their market share, retailers must meet customers where they are and match consumers’ changing expectations post-pandemic. Recent consumer research from Linnworks found that consumers now consider convenience as a top priority when it comes to online shopping from retailers.
With nine out of 10 customers searching for products on marketplaces frequently, retailers should create a product and pricing strategy for marketplaces like Amazon. Factor in service options like next-day delivery, and back-end and fulfilment processes to select the right marketplace.
Alternatively, retailers can also add a direct-to-consumer (DTC) model to sell directly to customers on websites. Further, with the growth of social commerce, promoting on appropriate social networks using user-generated content and influencers is recommended to boost engagement and sales.
[3 minute read]