5 trends that will dominate the retail industry in 2024

By: Trademagazin Date: 2024. 01. 30. 12:18

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According to Oliver Olschewski – CEE CEO of Offerista Group: “In the coming year, companies will face a triple transformation: digital, sustainability and organizational transformation. Personalization of the shopping experience while shopping, integration of artificial intelligence, environmental responsibility, first-party data and multi-channel approach are some of the key factors to address the challenges of 2024. Keeping up with these trends is key to staying relevant and effectively reaching consumers.”

1. “Hyper Personalization”:

In a world where personalization is critical, retailers and brands must profile consumer behavior to deliver a highly personalized shopping experience. This can be achieved by using the data to learn about the customers’ interests and needs, and tailoring the offers accordingly.

“The key is to thoroughly understand individual consumer preferences and use technology to deliver targeted recommendations and offers that meet needs and wants. Personalized interactions are key to building a deep connection with consumers, improving consumer loyalty and achieving higher conversion rates. Retailers who use data effectively will be able to provide a more efficient and engaging experience for customers.”