Build inflation-proof relationships
Learn the latest UK consumer data to inform how to position your business so when your customers buy, they choose your products—and ignore your competitors.
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What’s going on in UK retail right now?
We surveyed 500 business leaders and 500 consumers across the UK to uncover some of the latest trends in ecommerce. Here are two key findings:
of UK consumers plan to spend less next month
While consumers expect to spend less in the near future, more business leaders (51%) predicted consumers would change their behaviour. TL;DR: There’s still opportunity for brands that sell online to grow.
of business leaders want to focus on customer retention
Retention is crucial for more sustainable growth, but still takes a back seat to customer acquisition, which 47% of leaders report is their primary focus.
What should brands do about this?
1. Gather information
To fit consumers’ current needs, first you need to identify what exactly those needs are for your unique audience—which will differ from virtually every other brand, even close competitors.
2. Position yourself
Once you know how your customers want to engage with you and your products, think about how this translates to your tone and messaging. Prove your brand is a partner to customers through educational and relational marketing.
3. Take action
Once your customers trust in your brand, you can create a customer experience with sensitive and strategic optimisations to organically guide them through the buying funnel.
“The main thing people need to do right now is experiment: test new marketing channels, new levers for retention, different approaches to onsite trading—and invest more in creative and obtaining data.”