“Businesses that embrace personalization have a differentiated proposition that could lead to sustainable growth.”
-Celine Finch, Deloitte’s consumer business research lead on how Retailers are missing the mark on personalized e-commerce experiences.
While Amazon looks to undercut retailers at personalized price points, retailers offering value outside of purchases are finding ways to grow.
“As long as retail has existed, you’ve always had retailers sell to customers because many manufacturers were unfit to do so, but over time, as information has spread and it becomes easier, you have manufacturers selling, too.”
-Juozas Kaziukėnas, the founder, and CEO of Marketplace Pulse, an e-commerce research site on The Problem With Buying Cheap Stuff.
The direct-from-China market continues to grow as some consumers flock towards companies like Wish, which rivals even Amazon.com price points. While some are happy with the products they receive, many are telling people to lower their expectations.
“Sometimes to change, you have to let go of what’s been successful for a long time.”
- Co-president of Nordstrom, Erik Nordstrom on Why Norstrom is Betting on High-Touch Tech.
Nordstroms is one of the many fashion retailers leading the charge into high-touch technology in their stores in an attempt to solidify and enhance relationships with their existing customer base.