Five Key Factors Impacting The Retail Industry Right Now
Podcast show notes
Five Key Factors Impacting The Retail Industry Right Now
It’s been a strange few years and it doesn’t seem like we can expect an end to the unexpected any time soon.
Off the back of a pandemic, we’re now experiencing a rise in the cost of living, climbing inflation and even further instability created by ongoing geopolitical events.
It’s no surprise that all this is affecting consumers and retailers alike, and when things get tough and your sales slow down it’s sometimes hard to identify what the root cause might be, and all too easy to start feeling like you’re the problem. So, in today’s podcast, I want to assuage that fear and cover the five key factors impacting the retail industry right now: Consumer confidence, rising prices, the evolution of online, conscious consumerism and the growth of retention over acquisition.
In this episode, I discuss how we can strengthen consumer confidence through more empathetic messaging, and how revisiting the ‘value triangle’ is integral to justifying the purchase of your products to nervous customers. I also touch on the growing importance of being a value-driven business that not only does no harm but does good and why leveraging online tools and upping your engagement with your warm audience should keep you and your business in good stead through tougher times.
Use the code: 10podcast to get £10 off your first month when joining The Resilient Retail Club.
Heaps of small business retail advice for your inbox
Sign up the The Resilient Retail Club mailing list for totally free advice and business help, the occasional digital download, updates from our podcast and promotions for indie retail brands
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The Resilient Retail Game Plan Episode 87
Podcast show notes
Five Key Factors Impacting The Retail Industry Right Now
It’s been a strange few years and it doesn’t seem like we can expect an end to the unexpected any time soon.
Off the back of a pandemic, we’re now experiencing a rise in the cost of living, climbing inflation and even further instability created by ongoing geopolitical events.
It’s no surprise that all this is affecting consumers and retailers alike, and when things get tough and your sales slow down it’s sometimes hard to identify what the root cause might be, and all too easy to start feeling like you’re the problem. So, in today’s podcast, I want to assuage that fear and cover the five key factors impacting the retail industry right now: Consumer confidence, rising prices, the evolution of online, conscious consumerism and the growth of retention over acquisition.
In this episode, I discuss how we can strengthen consumer confidence through more empathetic messaging, and how revisiting the ‘value triangle’ is integral to justifying the purchase of your products to nervous customers. I also touch on the growing importance of being a value-driven business that not only does no harm but does good and why leveraging online tools and upping your engagement with your warm audience should keep you and your business in good stead through tougher times.
Use the code: 10podcast to get £10 off your first month when joining The Resilient Retail Club.
To check out the presentation mentioned in this episode, head to https://www.resilientretailclub.com/grow2022
Interested in being a guest or sponsor of The Resilient Retail Game Plan?
Drop us an email to let us know why you think you’d be a great fit for our audience of small businesses and independent retail brands
Heaps of small business retail advice for your inbox
Sign up the The Resilient Retail Club mailing list for totally free advice and business help, the occasional digital download, updates from our podcast and promotions for indie retail brands
Dive into another episode of our small business podcast
Negotiation Strategies and Techniques for Retail Business with Simon Duncan
Scaling Your E-commerce Business with Yoni Kozminski
Finding Value Beyond Business with Toks Aruoture
From Fast To Slow Fashion With Emma & Leanne Duncan
Your Business And Black Friday
All Things TikTok With Penny Walker