Following a year of low consumer confidence in 2023, combining rising fuel prices with consumers' squeezed discretionary income, the past year presented significant challenges for retailers. Yet, a Goldman Sachs report on the UK economic forecast for 2024 predicts that those headwinds and previously high UK inflation are easing, while consumer confidence is slowly rising, allowing the retail industries to be cautiously optimistic for the near future.
Understanding them - and by extension, how your customers are behaving in 2024 - will be essential to your business over the next year. Bare these in mind when creating your business goals, priorities and areas of focus... or risk being left in the past.
#retail-trends #small-businesses #sustainability #consumer-behavior #personalized-marketing #ai-tools
[
add
]
[
|
|
...
]