Lightspeed’s Media Features for April 2024 showcase crucial insights for Australian retailers navigating a rapidly changing landscape.
From adapting to post-pandemic shifts in consumer behaviour to managing rising dining costs and leveraging local community support against global competitors like Amazon and Shein, Andrew Fraser underscores the strategic imperatives for success in 2024.
Discover how integrating online and offline experiences, fostering community engagement, and aligning with consumer values are pivotal in driving loyalty and growth in today’s competitive market.
Adapting to Change: How Australian Retailers Can Meet Evolving Customer Demands in 2024
In the past four years, Australian retailers have had to adapt to significant changes, including a pandemic, economic pressures, and shifts in consumer behaviour.
According to Andrew Fraser of Lightspeed, retailers can meet evolving customer expectations by integrating online and in-store experiences, offering immersive and community-focused retail environments, and providing flexible services such as click-and-collect and free returns, all of which are crucial for retaining customer loyalty and thriving in a competitive market.
Adapting to Evolving Shopper Demands: Lightspeed’s Guide to Retail Success
Navigating the evolving retail landscape requires understanding and adapting to changing customer expectations.
According to Andrew Fraser of Lightspeed, retailers must unify their online and in-store strategies, offer flexible and immersive experiences, and focus on community engagement to meet and exceed customer demands, ultimately driving loyalty and retention in a competitive market.
Victoria’s Dining Costs Rise Amid Economic Pressures
Dining costs in Victoria have surged by nine percent compared to the previous year, outpacing increases in other Australian states, but the industry denies profiteering.
Lightspeed’s report attributes the price hikes to rising food costs, with nearly a third of hospitality operators raising prices significantly to cover escalating operating expenses, including energy and labour.
Local vs. Global: How Australian Retailers Can Leverage Community in 2024
Andrew Fraser emphasises how local retailers can thrive by prioritising community and relationships amidst fierce competition from global giants like Amazon and Shein in Australia.
By leveraging local support, offering unique products, and aligning with consumer values, local retailers can build loyalty and differentiate themselves in 2024 and beyond.
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