Attraqt's Katie Woodhead explains why retailers should ensure a smart mix of people and technology in their businesses in order to remain resilient during tough trading periods.
Peak 2018 didn’t resemble the Matterhorn so much as it resembled a nondescript hill somewhere in the South Downs. November was subdued, while December was the worst-performing month in the entire history of the IMRG Capgemini eRetail Sales Index, let alone the worst-performing Christmas period.
The market has yet to bounce back from this trend. At the beginning of the year, IMRG issued a data-informed estimate of the predicted market growth for 2019 at 9%; the current year-to-date growth is only 5.5%. There’s a chance that the scales will balance in the second-half of the year to counteract 2018’s flattened H2, but whether that will actually occur has yet to be seen. For now, retailers are facing a rather tough trading environment.
So, what can retailers do to weather the storm? Are there any tactics which can be implemented to encourage shopper traffic at a time where shoppers are being a little more frugal? We approached our community of experts for their insight into the tough trading conditions and alighted on a number of ways to stay afloat. Let’s jump in.
Continue reading the full story via IMRG: How Can Retailers Make the Most of a Tough Trading Environment?