Tough times drive tough consumers. Retailers are adjusting their strategy to the new reality around consumer behaviour in varying ways.
- The trend towards smaller stores or pop up retail have been around for some time, but the trends are intensifying.
- Consumer coupon use is up – and not surprisingly coupon fraud is up.
- Free support by your own customers? Seen it for years on the internet, now perhaps business will start to leverage it by — doing nothing.
- Digital downloads are apparently having an impact on music retailing. Who knew?
- DVD rentals are going strong in the US, and competition is still driving new strategies to cater better to customers.
- Retailers need to make efforts establish loyalty for fickle customers – some look to be knuckle busting for baristas who have to deal (swipe) with them.