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The new retail trends for 2019 that will determine who will be the retailers of the future

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The new retail trends for 2019 that will determine who will be the retailers of the future

The Geoblink company today announced the launch of its annual report called “The Future of Retail Intelligence in 2019”. The study was carried out from the analysis of the responses to a survey carried out with more than 600 professionals in the retail sector from the United Kingdom, Spain and the United States. The objective of this survey was to analyze the state of the retail sector and identify what new trendsthey would be the most prominent in 2019. Some of the key conclusions that we have found in the report are the following: According to  how to usa phone number  Jaime Laulhé Founder and CEO of Geoblink, “The results of this report reveal that the retail industry is at a turning point. It is clear that the retailers who reach the other side will be the ones who are not only able to collect data, but also understand what to do with it. Those who obtain the most information as a result of this type of analysis, will become the retailers of the future”.

46% of the participants declared having closed stores in 2018. However, 68% of the participants still plan to open more stores in 2019. Although the situation in the high street has become more complex and competitive, this finding shows that the physical store continues to be a vital sales channel for retailers. In fact, 56% of retailers declared that the physical point of sale was the most effective sales channel of 2018.

37% claimed to have closed establishments as a result of having chosen a bad location. This particular discovery directly contradicts another, and that is that 87% claimed that having a good location was a priority for their business. The disconnect between understanding the value of a location, and at the same time closing stores due to the poor choice of a site, reveals a significant mismatch when implementing strategies for high street retailers.

65% of the survey participants admitted feeling threatened by the increase in online purchases. However, 72% of retailers claimed to have opened their own online stores. It is interesting to analyze this data because it clearly reveals the insecurities of retailers when it comes to selling effectively to the online public.

The three most valuable data types used to evaluate POS performance were billing data (79%), shopper behavior data (65%), and customer data, such as their addresses and customers. information on loyalty campaigns (55%). This shows how retailers are moving from a customer-centric philosophy to a customer-oriented approach, which means that they have started to analyze the data collected about customers and their behavior to define the tactical implementation of their business strategies.

The three most valuable types of data for understanding external market conditions surrounding a current or potential point of sale were transactional data (79%), sociodemographic data (71%), and foot traffic (57%). Retailers are becoming  how to usa phone number  increasingly sophisticated in the type of data they want to analyze to understand what is happening around a potential point of sale and to pinpoint the psychological motivations that lead consumers to buy specific products in certain areas.

The content in this report also includes exclusive interviews with the most respected voices in the retail sector, including valuable information from specialists such as Álex López from the Retail Meeting Point group, Celestino Martínez from Flow the Retail Partner, Cate Trotter from Insider Trends, Andrew Busby from Retail Reflections, Jasmine Glasheen from RetailWire and Retail Minded, Laura Heller from Forbes’ Point of Purchase blog, Sanford Stein moderator of Retail Speak, and many more.

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