What do affordability, loyalty and trust mean to consumers as they face ongoing economic challenges? While overall spending remains stable, a growing focus on getting more value remains top of mind for many people, causing them to question what brand loyalty really means.
Private labels gain in popularity as consumers look for better deals without compromising quality. To stay relevant, retailers and brands must focus on product pricing, variety and the overall shopping experience — otherwise, customers will quickly lose interest.
Artificial intelligence can help build trust by fine-tuning personalized shopping experiences and improving operational efficiency. Although many consumers still hesitate to share personal data, they are increasingly comfortable with AI-driven experiences, making it an important tool for future success in the consumer market.
Read more on the strategies retailers and brands can use to connect with consumers and thrive in this uncertain market.
