That's a problem. Without a doubt, a great website and top-level marketing will help generate new sales, but it's the delivery experience that warrants future ones. This is because today's consumer not only has options for where they'll buy but also a high set of expectations. What's more, they remember the way a product arrives at their doorstep more than how it was sold.
Over the last couple of years, the most interesting thing I have noticed when studying the brands dominating in the digital era is that most of the successful new big market disruptors - those making millions of dollars a month from online ads alone - have risen to fame thanks to their own internal marketing teams. This is especially true for those in the e-commerce space, who have grown predominantly through Facebook advertising.
Mylow, a shopping assistant powered by ChatGPT that launched in March, is already driving double the conversion rate for online shoppers compared to those who don't use it. But looking ahead, Joe Cano, Lowe's svp of digital commerce, said the company envisions doing more with AI-powered visualization to help people figure out what to buy - for example, what products they need to create a midcentury modern dream kitchen, or what furniture and fixtures would complete their country cottage office.
The 2025 holiday shopping season is approaching, punctuating the end of a year filled with economic uncertainty. As a result, businesses should be preparing for a consumer landscape shaped by equal parts optimism and caution. Findings from several recently published studies indicate that shoppers are expected to be highly intentional, balancing value and convenience as they navigate economic pressures. Understanding these behavioral shifts will be key for businesses aiming to capture attention and loyalty in a competitive and fickle marketplace.
Economic uncertainty has pushed consumers to become far more selective with their spending, resulting in ongoing sales declines and reduced foot traffic for many retailers. This weakening demand has forced even the most established brands to close stores as they grapple with declining customer demand and the continued rise of online shopping. However, while many long-standing retailers struggle to stay afloat, a newer contender has emerged as a significant player in the industry.
