Home - retailbiz
WEBRetailbiz covers every aspect of Australia’s retail sector with a focus on the innovations and technologies that are driving the industry forward.
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 · Retail trends to watch as 2024 approaches. 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 ...
How Australian consumers will shop in 2024 - retailbiz
WEBPhysical stores set for a rebound. Physical stores will become important hubs for convenience, community, and curated ease, with in-store sales set to account for between 62% and 78% of total sales by 2024, according to estimates from Forrester, Edge Retail Insights and Euromonitor. The success of physical stores will be shaped around the ...
The rise of returns fraud and how retailers can mitigate it
WEB2 days ago · According to a recent report from Loop, nearly two-thirds of Australian retailers (60 per cent) have experienced some type of returns fraud or policy abuse in the past 12 months. Indeed, Loop estimates that for every $100 in returned merchandise, retailers lose $10.40 to returns fraud. Nearly three-quarters (74 per cent) of Australian retailers say their company prioritises customer experience ...
Staff and customer engagement – retail trends to watch in 2024
WEBMar 7, 2024 · Born between the turn of the millennium and the early 2010s, Gen Z is the demographic to watch this year. The youngest are tweens and the eldest are in their late 20s, and many of them are going to make up retail staff numbers and customers. Large retail enterprises have traditionally had trouble engaging with …
How retailers can prevent fraud in an era of evolving AI
WEB2 days ago · Retailers must invest in AI systems that are trained on high-quality data and continuously refined to minimise such false positives. Also, despite the advancements in AI, the human element remains crucial in fraud prevention. Human analysts can provide context and judgment that AI may lack, particularly in cases involving complex or unusual ...
Attracting and retaining customers with digital - retailbiz
WEBJun 7, 2024 · Attracting and retaining customers with digital. In 2024, it comes as no surprise that retailers are continuing to invest in building omnichannel approaches to customer acquisition and retention. However, retailers are experiencing increasing pressures from international marketplace businesses offering price competitive offerings that are often ...
Why mid-size enterprises must prioritise loyalty to drive long-term ...
WEB2 days ago · Retailers use these programs to offer personalised rewards, encourage repeat purchases, and build strong relationships with their customers. Mid-size retailers can use loyalty programs to achieve a critical competitive edge by enhancing customer engagement, increasing retention, and driving long-term growth. Crucially, they can ensure customers ...
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 ...
Skip to content