Even before 2020, there were many articles covering the challenging state of the retail industry. In-store retail was changing at an unprecedented speed; discount stores were growing and online sales figures continued to rise.
Parallel to this, and thanks to improving technology enabling greater transparency, shoppers were becoming savvier and their expectation of brands was ever increasing. In this climate, it would be understandable to ask whether loyalty is a reasonable expectation.
Then in 2020, the game changed. Change and uncertainty has never been as great as in the last few months. Whatever we thought we knew about customer behaviour is arguably brought into question.
For many of us, our experiences during the last few months will have perhaps permanently changed the way we shop. It is therefore logical to expect that what we thought was true about our customers, will now no longer be the case or at the very least, it is worthy of review.
Throughout this paper, IRI UK’s Head of Analytics & Technology, Tom Hall and Charlie Clark, Senior Director Targeted Marketing explore brand and retailer loyalty through the lens of 2020 and shed some light on what could be the retail industry’s new approach to driving strong shopper loyalty through behavioural marketing.
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