What’s motivating consumers to shop? What’s the impact on your trading figures and profit?
KPMG has surveyed 1,300 UK consumers during the Christmas trading period to better understand their shopping preferences. This year’s analysis focuses on 6 key themes.
- Black Friday: a firm fixture in retail and consumer diaries. What factors are driving consumers purchase decisions and what are the impacts on the broader Christmas trading period.
- Are consumers routes to market changing and therefore do retailers need to be thinking ahead about how to succeed in trying times.
- The political and economic environment has had an impact on UK retail – what does the current climate mean for UK retail.
- Understanding the all-important end customer is increasingly important – what changing factors need to be considered to stay afloat or even to prosper today and tomorrow.
- Consumers are expecting enhanced service options from retailers with delivery options representing a key driver for purchase choice.
- How do retailers achieve an optimal balance of managing returns in light of consumers preferences vs balancing profitability.
To learn more about how these trends could impact your retail business, read the full KPMG Annual Retail Survey 2020 now.