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What do Today’s Consumers Really Want? #RIC21 Day One Answers the Question

Retail TouchPoints

It’s the question every retailer wants the answer to: what do consumers (and more specifically, those likely to buy their products) really want? The day kicked off with a keynote presentation by Jeff Orschell, EY Americas Practice Leader: “Bottom line for retailers is that change is still happening, consumer behavior is still changing.

Consumer 325
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The Value of Localization as a Competitive Advantage in Accessing Multicultural Consumers

Retail TouchPoints

What we know for sure is that consumer perceptions and choices are affected by culture, which also affects spending habits. Culture shapes consumer motivations, deliberation styles and decision-making, affecting every stage of the customer journey. American consumers, even those in the top 1% of wealth, are more focused on saving.

Consumer 290
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Accenture: Rise of the ‘Resilient Consumer’ Requires More Nuanced Retail Strategies

Retail TouchPoints

Accenture surveyed more than 10,000 consumers in 16 countries and found that although we’re living in a time of “lasting uncertainty,” the “ resilient consumer ” is uncovering new ways to protect and control what is most important to them. As a result, consumer behaviors are becoming more complex.

Consumer 246
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Dive Into Moments-Based Marketing At CX North America

Forrester eCommerce

When it comes to vying for consumers’ attention and share of wallet, brands face an increasingly varied mix of competitors. Take Netflix, for example: its investor FAQ page explains that its competition is not merely other streaming services, but also other leisure activities like reading a book.

Leisure 311
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Transforming Retail Spaces for Today’s Generation of Shoppers

Retail TouchPoints

Fueled by a desire for experiential interactions, expanded leisure and dining offers, personalized shopping journeys and the integration of digital elements, malls are becoming hubs of innovation and adaptation in addition to their social elements and place as our new town squares.

Retail 335
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Travel Spending on Track to Return to Pre-pandemic Levels by End of 2024

Forrester eCommerce

The resurgence of international travel demand in Asia-Pacific and strong leisure travel demand in North America and Europe will power this growth. Global travel spending is roaring back and will fully recover to pre-pandemic levels by the end of 2024, surpassing $2 trillion. The road to recovery has been uneven across regions, however.

Travel 273
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Retail Design Trend Forecast: Mixed-Use Spaces and the ‘15-Minute City’

Retail TouchPoints

According to the second annual report from the global architecture and design firm, shopping centers, malls and department stores are being transformed into mixed-use spaces, a trend that prioritizes the needs of consumers whose time is valuable as they change the ways they live, work, shop, dine, exercise and socialize.

Leisure 299