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WEBRetailbiz covers every aspect of Australia’s retail sector with a focus on the innovations and technologies that are driving the industry forward.
Five major trends affecting the retail industry in 2024
WEBTrend one – The rise of the phygital store. Research shows that improving customer experience remains the number one priority for businesses. The rise of the phygital store is the result of a fusion of physical and digital retail strategies to create a cohesive customer journey. The phygital approach recognises that customers move seamlessly ...
What the Australian retail industry should expect for 2023
WEBWith the COVID-19 pandemic, the past 36 months have been a difficult time for Australia’s retail industry, with businesses having to navigate a plethora of challenges, ranging from rising costs and supply chain disruptions to grave labour shortages.. Further adding to the pressure on retailers are rising customer expectations.
Five trends that every retailer should be adopting in 2024
WEBNov 28, 2023 · Five key trends that retailers should adopt to stay ahead of the curve in 2024: Warehouse optimisation, digitalisation and automation: The integration of digital technology and automation (including robotics, AI and machine learning tools) with space-optimising vertical or cube storage systems, enables retailers to streamline their warehouse ...
The trends that will define the retail industry in 2024
WEBAI adoption will increase. In 2023, artificial intelligence (AI) exploded into mainstream consciousness thanks to the prominence of ChatGPT. In 2024, that momentum will continue. In fact, by 2026, the global AI market in the retail industry is projected to grow by 70%. AI is still in the early stage of its evolution, and many retailers have yet ...
Minimum wage increase: Everything retailers need to know
WEBMinimum wage increase: Everything retailers need to know. As a result of new policies introduced by the Fair Work Commission (FWC), Australian minimum wage workers are now entitled to an 8.65% wage increase, while award workers’ wages have increased by 5.75%. The increase, ‘the biggest in history’ according to Treasurer Jim Chalmers, will ...
Pattern Australia shares five e-commerce predictions for 2024
WEBGlobal ecommerce and marketplace accelerator, Pattern has released its top five predictions on what will shape the Australian e-commerce landscape in 2024. “The Australian retail landscape will take an evolutionary step-forward over the coming year, driven by changing consumer expectations and the …
Australian retailers need to adapt as inflation slows consumer …
WEBOct 20, 2022 · Australian retailers need to adapt as inflation slows consumer spending. Consumer spending roared through 2021 and into 2022, but that may be about to change. After a big pandemic-related shift to online shopping, retailers and their customers face a new challenge in 2022: rapidly rising inflation. Inflation is a global problem right now, but ...
Top retail innovation trends for 2021 - retailbiz
WEBTo some extent, these trends were in evidence prior to the pandemic, but have dramatically increased their importance to meet and exceed customer expectations. 1. Touchless interactions. “Touchless” experiences are “safe,” physical-contact-free interactions across the customer’s entire shopping process. Consumers now expect retailers ...
What retailers should look out for in 2024 - retailbiz
WEBIt has been a challenging few years for retailers, especially as they are more likely than average to face risk, according to FIS’ Global Innovation Report.With 89% of retailers concerned about rising inflation, and 78% worried about supply chain disruption, industry norms have been flipped.