Headlines around the world continue to discuss the “retail apocalypse,” a phenomenon marked by the decline of traditional retail in the face of digital commerce. It’s tough out there for retailers in 2018. Last year, brick and mortar retailers closed nearly 7,000 stores, and this year, the trend has continued. What’s the culprit behind this new reality?
The Amazon’s dominance for one thing. Amazon offers wide product selection, fast shipping, and also low prices — a trifecta many retailers can’t beat. The good news for marketers is that they can compete with Amazon in certain areas.
Yes Marketing has surveyed 1,000 consumers in 2018 to uncover what motivates consumers to engage with retailers, make purchases and become loyal to a brand. The results identified 8 marketing trends that will help retailers gain a competitive edge as the industry faces an uncertain future, as well as 8 strategies to adapt to the new landscape
Some of the Marketing Trends Will Help Retailers Gain Competitive Edge:
- Email is a tried and true marketing channel. Marketers earn $44 in ROI for every $1 spent on email marketing and 47% of consumers rank email as their preferred channel for communicating with retailers.
- Social media offers retailers a bridge into the lives of key audience segments. 30% of consumers engage with retailers that share funny or interesting social posts and 35% will engage with a retailer’s post if they agree with it personally.
- Mobile commerce is the new norm. 49% of those who prefer desktop said it’s faster to make purchases, and 49% said it’s easier to comparison shop.
- 57% of consumers have used a retailer’s mobile app while in a store, while 65% of those who use apps in-stores do so to redeem coupons, and 57% do so to find coupons.
A Figure Shows the Most Preferred Channel for Brand Communications in 2018 – Yes Marketing
Content of “Survey Report: Surviving the Retail Apocalypse, 2018“:
- Executive Summary
- Top Trends by Channel
- Top Mobile Trends
- Top Trends across Channels
Number of Pages:
In June of 2018, Yes Marketing surveyed 1,006 consumers who have made a purchase with a retailer online in the past year.