💡 Great summary from David Poulnot on some of the latest retail insights
finally had time to digest the Mastercard/Forrester "Growth through Revenue Diversification" report.....and it's a banger 🔥 A few of the highlights: 💡 65% of retail decision-makers are finding it harder to respond to rapidly changing consumer expectations than in previous years 💡 76% of retailers agree that finding new ways to generate revenue outside traditional methods is essential Digging a little deeper, the highest ranked paint points are: 1️⃣ Difficulty personalizing customer interactions 2️⃣ Insufficient customer data 3️⃣ Inability to assess the cause & effect of introducing a new strategy or initiative 4️⃣ Lack of internal skills or resources 5️⃣ Inability to come up with new ideas or innovations 6️⃣ Inability to foster long-term brand loyalty As a result, 91% of respondents have already or will develop new B2B partnerships to alleviate revenue growth challenges 🤝 "Retailers can expect to see significant return from investing in third-party data solutions, such as access to more holistic consumer insights." 📈 It's a challenging landscape out there! You're not alone!! 🙌 (link to the report in the comments)
