omnichannel retail Archives - Business Intelligence

Tag: omnichannel retail

retail sector

A Window of Opportunity to Win Customers in Central Europe’s Retail Sector

Retail sector

Central Europe’s retail sector: An overview

Central Europe is a highly value-oriented market where consumers strive to find new ways to stretch their budget without having to compromise on quality. Consumers in this market are constantly on the lookout for the best deals that both online and offline channels in the retail sector have to offer. In fact, in most Central European countries, promotions are becoming relatively commonplace. However, for companies in the region’s retail sector, winning consumers does not only mean merely offering mediocre-quality products at entry-level prices.

The most successful retail sector companies in Central Europe are those that are successful in finding ways to provide added value while keeping prices low. This can be achieved by improving product quality, offering a larger assortment, or providing a seamless and satisfying customer experience. Although the region is going through a phase of financial insecurity due to recent recession, this does not mean that only inexpensive products attract Central Europeans. As consumers in Central Europe are increasingly becoming omnichannel shoppers, they are educating themselves more on price and on product features. Companies in the CPG and retail sector must, therefore, ensure a consistent, value-oriented presence across channels establish a brand value for themselves in the future of retail in Central Europe. In addition, they must also act on some key priorities.

Consumers in Central Europe are in the search for the best value-for-money deals. Is your business prepared to meet the changing demands of consumers in this market? Request a free proposal to learn how our advanced market intelligence solutions can help your organization effectively tap market opportunities and stay ahead of the curve.

retail sectorInvest in ‘value for money’ brands

CPG and retail sector companies are rapidly offering higher quality or even premium products at mainstream price points. Private labels have become one of the most popular retail industry trends with several retail sector companies launching premium quality private label products and heavily investing in their advertisements. Advertisements can be used as a source to communicate emotional cues to consumers in order to make private labels an everyday household name while promoting the idea of value for money.

Expanding assortments

Companies in Central Europe’s retail industry are providing broader assortments in products to appeal better to consumes. Grocers, for instance, are providing variants including vegetarian, organic, and vegan products. Following this trend will be especially useful for fresh food and prepared meals categories. Retail sector companies can also experiment with introducing newer store formats by expanding their offerings in fresh produce, ready-to-eat meals, and grab-and-go snacks.

Wonder how you can achieve consistency and successfully adopt a value-oriented approach to win over consumer trust and loyalty? Get in touch with our experts for more insights on how we help clients across the globe to effectively achieve their business goals.

Digital technology to enhance CX

Retail sector companies and CPG manufacturers alike are investing in technology to enhance their omnichannel presence. Hypermarkets are incorporating more digital technology into their stores to help shoppers explore broader online assortments. They can also incorporate the use of digital kiosk that suggests specific items, depending on the occasion, food pairings, or customer preferences. These efforts will drive customer loyalty and offer a superior customer experience.

Final thoughts

Consumers in Central Europe are a new breed of shopper. They remember the past, were affected by the recession and are quickly trying to embrace a technological revolution. Consumers in this market are characterized by their nature to seek value for money, are extremely demanding, and expect superior technology and customer experience while shopping. As Central European consumers now have much higher expectations of retail sector and CPG companies, both offline and online, companies in the region have little choice but to innovate constantly across channels. Several have risen to the challenge; the rest should act soon or risk losing out to agile competitors.

For more insights on Infiniti’s solutions for retail sector companies, request for more information.

retail industry

The Reasons Behind Soaring Private Label Success in the European Retail Industry

In the European retail industry, there is currently an unprecedented prominence of private labels. According to our industry experts, the sales and market share of private label brands have climbed to an all-time high in countries including Belgium, Netherlands, Austria, Denmark, Poland, Sweden, and Norway. Our experts believe that some of the key drivers behind the success of private labels are the expansion of retailing around the world, the emergence of e-commerce, the success of discounters, and changing millennial shopping habits. Furthermore, Private labels allow companies in the retail industry to offer something distinct to their customers. With intensifying competition in the retail industry, private labels have grown to include exclusive products aimed at increasing brand loyalty.

Brands in the retail industry should always be on the lookout for opportunities to better serve their customers. Request a free proposal to know how we can help you capitalize on the right market opportunities.

retail industryThe rise of millennials

Millennials are expected to outnumber baby boomers over the next decade as the generation with the highest discretionary spending power. Millennials are known to be experimental in trying out new products and consequently, private labels are becoming increasingly popular among this group. They demand products that do more, provide greater convenience and offer a variety of lifestyle options and are known to undertake extensive research before buying products. Loyalty to established brands in FMCG cannot be expected from millennials. As a result, almost all major retailers in Europe have developed sophisticated private label programs that give tough competition to established FMCG brands.

Attractive and meaningful packaging

Modern retailers have realized the importance of attractive and meaningful packaging and generally, they have been succeeding in using packaging to get the right message across to shoppers. In the case of private label, it is mostly up to the retailer to set the specification, and there has been some heavy investment in packaging solutions. Apart from increasing the market share, private labels have also undergone stratification with the rise of premium and mid-range offerings besides the traditional bargain ones. Stratification has been in practice over several decades. Today, however, we can see stratification based on factors including organic, natural, gluten-free, and value-based.

Private label is a secret weapon for retailers today. To use it right and maximize its potential, experts at Infiniti can help you as it has done with many companies in the retail industry. Get in touch with us for more insights.

Health-conscious customers

The UK is a market where players in the retail industry use private-labels to reinforce an already-strong store equity position. The major supermarkets’ strategy has been to grow private-label sales. This can particularly be seen in fresh foods, while reducing the range of packaged goods. Retailers are gradually expanding their private-label brands to include healthier options, including for consumers with special dietary needs, and recommends looking for opportunities to remove, reduce or replace undesirable ingredients in their prepared foods. The benefits are also being prominently highlighted on packages and with in-store signage.

Ecommerce boom

Private labels are being disrupted on many various levels due to the rise of ecommerce. Several top ecommerce companies are fragmenting the path to purchase and opening new opportunities for private labels. E-commerce platforms are opening up many doors to expand the sales of private labels.

Learn more about Infiniti’s solutions for companies in the retail industry

Future of ecommerce

The Flourishing Future of Ecommerce in Canada

Future of ecommerce in Canada

The ecommerce sector continues to gain momentum in Canada, giving the future of ecommerce in the region a positive signal for growth. According to Infiniti’s industry experts, approximately eight in ten Canadians shop online, and they are gradually buying more often, more items, and across product categories. For companies who want to venture into ecommerce business in Canada, now’s the time! While several Canadians prefer to shop from Canadian online retailers, the availability of varieties on cross-border websites are attracting many shoppers towards US and European ecommerce players as well. Though the future of ecommerce in Canada looks bright, the fact remains that not all Canadian provinces are experiencing the same ecommerce growth. Regions such as Ontario, British Columbia, and Quebec recorded the highest ecommerce growth compared to other provinces in Canada. The future of ecommerce in Canada will largely rely on enhanced buying experiences that are rooted in personalization, convenience, and a consistent, timely buying experience across all channels.

Canadians are spending more time online in 2019 than ever before and this trend is expected to continue and boost the future of ecommerce in Canada. Request a free proposal to know to make a place for your business in the Canadian ecommerce space.

Future of ecommerce

Here are a few important facts about the Canadian ecommerce business that companies who want to establish themselves in the future of ecommerce in Canada must know:

Falling shipping time and prices

One of the key factors that have fueled the increased spending on online shopping by Canadian customers is the decreasing shipping costs in the country. As several major online retailers are now offering free or affordable shipping on a large variety of products, Canadian shoppers are now able to purchase online more frequently and without having to shell out excess money. However, the charges for coast to coast shipping may still remain high.

Developing omnichannel capabilities

As majority of the Canadian population are located in urban areas and the prices of coast to coast shipping are rising, we can expect to see more omni-channel initiatives in the future of retail in Canada. New ecommerce trends such as ship to store and store pickup have worked well with Canadian shoppers and has helped to change their mindset to become more accustomed to shop online without immediately losing the brick and mortar store experience.

Get in touch with our experts to know more on how you can stay prepared for the trends and challenges in the Canadian ecommerce market.

Weak Canada dollar and cross border purchases

Ecommerce companies in Canada are adding products outside their traditional product scope into their offerings. One of the prime reasons behind this is the weakening Canadian dollar against other currencies.  This has resulted in fewer cross-border orders because it will cost more with the current unfavorable currency exchange rates for Canadian customers. Moreover, the shipping costs of importing from another country would also prove to be higher.

Learn more about how Infiniti’s solutions can help your business

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