Forrester Research report The New Paradigm Of Retail states, “Today's shopper knows more about the product than store associates do, has a broader online selection with filtering tools, and can close the purchase more easily on their own with online product upsell options. Retailers must adapt to regain a customer experience.”1 Future growth for retailers depends on the retailer’s ability to adapt to the customer’s preferences. We have identified four “Retail Strategy Influencers” that pave the way to growth.
The hectic holiday season is done, and seasonal results for retailers are positive. According to the National Retail Federation (NRF), “holiday sales during November and December 2017 increased 5.5 percent over the same period in 2016 to $691.9 billion as growing wages, stronger employment and higher confidence led consumers to spend more than had been expected.” And the continued outlook for retailers remains promising. Devon Wylie, CEO of retail industry event CRMC, points out that “most in our network of brick and mortar, retail CRM marketers are telling us that they are hopeful that in-store activity will remain strong in 2018.”