Retailer response to changes in consumer behavior in the UK: Remaining relevant to the smart consumer

Retailer response to changes in consumer behavior in the UK: Remaining relevant to the smart consumer

Code: ML-ML00019-036 | Published: Sep-2015 | Pages: 20 | MarketLine
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Consumers in the UK have become increasingly confident, shrewd, and more difficult to please. The concept that people can bring about change through the way in which they shop has led to consumers holding an increasingly powerful position. Retailers have had to adapt to remain successful. This case study examines how retailers have responded to recent changes in consumer behavior



Key Findings
- Looks at how retailers are becoming increasingly consumer centric and examines the methods used to ensure this
- Examines the ways in which retailers have embraced digital change in order to remain relevant to consumers
- Analyzes the tactics retailers are using to appeal to the post-recession consumer

Reasons To Buy
What changes have occurred in consumer behavior?
Why have these changes come about?
How have retailers responded to changes in consumer behavior?
Are retailer responses successful in appealing to consumers?

Table of Contents

OVERVIEW
Catalyst
Summary
RETAILERS ARE BECOMING INCREASINGLY CONSUMER CENTRIC
Retailers have become increasingly aware of consumer trends and demands
Customer Relationship Management (CRM) has become an important strategy
RETAILERS HAVE HAD TO EMBRACE DIGITAL CHANGE
Retailers are creating a multichannel experience
Retailers are using social media to maintain a relationship with consumers
RETAILERS TRYING TO APPEAL TO THE POST-RECESSION CONSUMER
Many retailers have focused on price
Other retailers have focused on the experience
Renewed focus on private label
Pop-up stores: A low-risk way to make money and encourage consumer spending
CONCLUSIONS
Retailers have had to alter business strategies to remain relevant
APPENDIX
Sources
Further Reading
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