Read Best Ecommerce Marketing Automation

[mdraufkhan.d.ak]

Today, they all face the challenge that their customer base has been hit hardest by inflation, which has grown since the removal of all discretionary spending. Therefore, the key is to get products that customers must have, such as home needs, at a high value. Rethinking merchandise strategy and investing in digital As a result, it must rethink its merchandise strategy and find ways to beat Walmart and Amazon, Rowley said, adding that closing lower-performing stores gives them the opportunity to invest in other stores.

Rowley said one of the mistakes made was failing to adapt to economic changes ghana consumer email list affecting its customer base. Value retailers have been hit hard by rising inflation, he said. First, it significantly increases the price of purchasing the product. Secondly, this results in their main customers buying most of their basic necessities as their discretionary income is eaten away by inflation.

This reduces sales of high-margin products. Furniture products face this problem even more. Regarding e-commerce, Rowley said he believes it's a tough space for value retailers for two reasons. First, they buy most of their products from factories and other retailers, making it difficult to offer a consistent product online. Second, many value customers are cash customers. They buy products when they cash their income checks.