Retailers need to mimic e-tailers if they are to be competitive
As shopping habits move online, retailers need to rethink the way they operate — especially with e-tailers moving into traditional spaces, writes Julia Ahlfeldt
The festive season is traditionally the retail sector’s best performing period, but for some — including Woolworths, Truworths and Mr Price — it was not a very merry Christmas. While reduced discretionary income and a tightened credit environment are the widely acknowledged culprits, underwhelming financial results from traditional retailers also indicate that shopping habits are changing. Consumers — particularly those in higher income segments — are now savvier and more digitally connected. Traffic, queues and crowds, as well as poor in-store service and limited product availability, make armchair shopping a more convenient and appealing alternative. To compete for their share of consumer spend, and to remain relevant in an increasingly competitive sector, traditional retailers must take heed of declining non-food sales and develop strategies that embrace the digital world as the touchpoint of choice, while providing compelling in-store experiences that drive traffic to their loca...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.