Richard Lim’s Post

In a recent survey, 91% of online retailers in Australia expect significant business challenges due to economic headwinds. To navigate these tough times, CEO of CouriersPlease Richard Thame shares 5 valuable tips for eCommerce players: 1) Know who is shopping and when – and what those buyers want. Online retailers should boost sustainable practices, offer click and collect options, easier returns and shorter waiting times. 2) Strategically time your sales with the help of AI. By leveraging data analytics, retailers can find the best time to run a promotion and tailor the deals to maximise relevance and engagement. 3) Boost customer retention with loyalty programs. Figures show that 95% of Australians are members of one or more loyalty programs, with 18% reporting increased usage over the past year. 4) Get an omnichannel presence through pop-ups. Social media is king for ecommerce retailers with Australians shopping through social media channels more than ever. 5) Use final sales as a cost-saving strategy. Buyers love a bargain, and final sales are a way to help savvy shoppers nab a deal and for businesses to clear inventory. Found this useful? Read the full article here: https://lnkd.in/gupYQHxt #everydeliverycounts #forpeopleandplanet #singpost #logistics #supplychain #sustainability #eCommerce #onlineretail #sustainability

UK retailers and e-commerce platforms are currently operating in a highly volatile environment that presents unique challenges and opportunities. After navigating a confluence of disruptions in 2023, including economic headwinds and slowed consumer spending, we see improved prospects for UK retail growth in 2024 given the combination of easing inflation, interest and mortgage rates, as well as strong wage growth amid a fully employed labor market. To succeed in the UK retail market, retailers and e-commerce platforms must analyze shifting market conditions and consumer preferences, adapting to them rapidly. In this Market Navigator report, Coresight Research explores the UK retail market, including e-commerce, in the context of the post-pandemic retail environment. We provide the size and trajectory of the UK retail market for 2024 and beyond and key factors impacting market growth. We also discuss e-commerce penetration rates, distribution channels, the competitive landscape, key themes and innovators, and blue-sky thinking for the market. #uk #ukretail #ukeconomy #ukretailers #ukecommerce

The holidays are quickly approaching, and retailers must plan to meet consumer demands in Q4. Check out three AI-powered e-commerce strategies to stay competitive this holiday season: https://ow.ly/kIMr50Ta3Ub. #HolidayShopping #RetailTech #EcommerceTrends #AIinRetail

Tesco’s share price is up almost 50% in the last two years. The business is on a roll, reporting strong financial performance in the latest update which I recently discussed with BBC News. ➡ Strong Financial Performance: 💠Retail like-for-like sales up 2.9%, with UK (+4.0%), ROI (+4.7%), and Central Europe (+0.6%) 💠Adjusted operating profit increased 10.0% to £1,555m 💠Market share reaches 27.8% - highest since January 2022 ➡ Omnichannel Excellence: 💠Large stores leading with 4.2% growth 💠Digital sales surging - online up 9.3%, now 13.5% of UK sales 💠Whoosh rapid delivery expanding to 1,460 stores 💠1.3M online orders per week ➡ Digital & Loyalty Innovation: 💠Clubcard penetration reaching new heights: UK 82%, ROI 85%, CE 87% 💠4.9M customers receiving personalised 'Clubcard Challenges' 💠Growing retail media platform showing strong advertiser engagement What's fascinating about Tesco's performance isn't just the numbers - it's the sophisticated ecosystem play that's emerging. Here's why I believe Tesco are in such a commanding position: 📲 Data Monetisation Tesco isn't just running a retail media network; they're orchestrating the UK's largest closed-loop retail ecosystem. With 23M Clubcard households, they've created a virtuous cycle: customer data drives personalisation, which increases engagement, which generates more data. Their partnership with dunnhumby transforms this into a powerful advertiser proposition - true closed-loop measurement across online and offline touchpoints. This is retail media 2.0. What's more, retail media typically delivers 60-70% margins, compared to traditional grocery retail's 2-5%. By building this high-margin revenue stream, built on strong tech underpinnings, their media tech proposition has become a key strategic asset boosting their valuation. It's a page out of the Amazon/Walmart's media businesses playbook where this part of the business is valued at multiples of their retail operations. 🎯 Core Business Focus The 4.0% like-for-like growth tells a deeper story about strategic discipline. Over the past decade, Tesco has systematically simplified its business model - exiting non-core markets and doubling down on what they do best: food retail with a magic sprinkle of data. It’s been fascinating to see how sometimes doing less allows businesses to achieve more. 🤖 AI-Powered Customer Centricity The deployment of AI to analyse shopping patterns isn't just about efficiency - it's about reimagining the customer relationship. By using predictive analytics to anticipate customer needs and suggest relevant products, Tesco is moving from reactive to predictive retail. In my view, the next stage of personalisation. These results showcase Tesco's ability to balance traditional retail strength with digital innovation while maintaining strong market leadership.

Tesco have long been a leader of using shopper data to drive value for both themselves and their shoppers. This post gives fascinating insight into the next chapters in this journey.

Really good perspective and insight on the topic that dominates the ecommerce airwaves - retail media. Great question and context around why this is so important to answer and why there needs to be a holistic approach for long-term success.

WHERE WILL THE MONEY COME FROM? My colleague Declan Kearney sent me this from Shoptalk. N-for Nexus: Retail Media Networks forecast 17% CAGR in U.S. Retail Media Network Market, estimating $828 billion by 2027. The forecast seems reasonable, and is broadly in line with similar projections put forward by other well respected organisations. But, it does beg the question, Where will the money come from? A few simple truths 1️⃣ CPG/FMCG/Grocery total retail is not growing at 17% nor is it forecast to. 2️⃣ DCG’s own research shows that CPG/FMCG/Grocery digital commerce is not growing at 17% anymore. 3️⃣ Customer numbers are not growing exponentially. 4️⃣ Increased competition is resulting in reduced media effectiveness 5️⃣ While the chart rightly shows the margin expansion for retailers (RDM is 60-65% margin vs. 2-3% instore), and highlights the value of data, most retailers STILL cannot provide manufacturers with simple metrics like Conversion, Incremental Sales, Share of Category and Share of Voice. Increased investment into RDM in an inevitability. There is simply too much benefit for retailers for it not to be. But without customer growth there is only one place that increased retailer margin can come from…manufacturers. And, in this equation, more retailer margin will likely mean less manufacturer margin, unless you start acting deliberately. Digital Commerce Global’s research shows that RDM budget is typically coming from four sources 1️⃣ Trade Budget - fine if your sales are growing significantly, but profit dilutive if not. 2️⃣ Marketing Budget - fine provided RDM is not diluting MMM effectiveness or canabalising investment from media your target audiences are more receptive too. 3️⃣ Digital Commerce Budget - unsustainable in the long run as eventually money will need to be taken from other places. 4️⃣ New Budget - valuable in the short term and while top line sales are growing, but quickly profit dilutive and unsustainable in the long run. Many manufacturers will fall into the trap of ‘finding’ money now, but will wake up in a few years time with a much less profitable business and an addiction to sales bought through Retail Digital Media. As RDM is only forecast to grow, if you haven’t done so already I would recommend these THREE actions to get underway, quickly; 1️⃣ Create a RDM investment framework that guides ALL retail media spend within a clear set of rules and guardrails. 2️⃣ Include RDM investment in your Media Mix Modelling, Annual/Quarterly Planning and Revenue Growth Principles, being very clear where investment comes from, how much and what for? 3️⃣ Start getting good at creating demand again. The best way to engage an audience that is bombarded with media messages is to stand out. Creating demand by satisfying customer needs, missions & journeys is the only way to future proof your business from insurgent profitability attacks. #digitalcommerce #ecommerce #cpg #cpgindustry #digitalretailmedia #fmcg #drm

🌍 Peaks Partners Retail Consumer Insight 🌍 📊 According to the Shopify 2024 State of Commerce report, retailers in Europe face growing challenges as consumer loyalty wanes and value-focused shopping takes precedence. The survey, conducted across five countries (🇬🇧UK, 🇫🇷France, 🇮🇹Italy, 🇩🇪Germany, 🇪🇸Spain), highlights critical insights into evolving consumer behaviors and retailer priorities. 🛒 Key Findings: ✏ Lower Consumer Loyalty: Shoppers are increasingly prioritizing the best deals over brand loyalty. ✏ Value Focus: Consumers are hunting for value, making price competitiveness essential. ✏ Discretionary Spend: Shifts in spending habits are influencing purchase decisions. ✏ O2O Integration: The need for a seamless online-to-offline (O2O) shopping experience is more crucial than ever. ✏ Discovery Sources: How consumers discover products is changing, impacting marketing strategies. 📢 Attention Brands and Retailers worldwide! 👥If Europe is your next retail destination here is Why Peaks Partners is your ideal choice? 🌍Expertise in European Markets: In-depth knowledge of the unique market dynamics across Europe, Peaks Partners is ideally positioned to help global brands and retailers navigate these challenges. 💡Strategic Insights: Our team leverages comprehensive data and cutting-edge strategies to provide actionable insights tailored to your business needs. 🏆Proven Track Record: We have a history of helping brands achieve their business objectives, ensuring sustainable growth and success. 🌟 Partner with Peaks Partners to recalibrate your business strategies and thrive in the evolving retail landscape of Europe. We are here to help you transform challenges into opportunities, together. 🌟 Drop us a note to book your #freeconsultation. 📧 [email protected] #RetailConsulting #ShopifyReport #ConsumerInsights #PeaksPartners #RetailStrategy #EuropeMarket #BusinessGrowth #CustomerLoyalty #ValueShopping #O2OExperience Read the report story here 🔻 https://lnkd.in/gfwAVMQP

A combination of bricks and mortar expansion, eCommerce improvements and investment in marketing are priorities this year for UK retailers. New research from American Express suggests retailers are increasing their efforts to boost sales. Amex's surveyed 500 senior UK decisionmakers in retail and hospitality businesses of all sizes, with at least one physical store. The research explored their current challenges, investment priorities, and customer attraction strategies. https://shorturl.at/UsCsg

A combination of bricks and mortar expansion, eCommerce improvements and investment in marketing are priorities this year for UK retailers. New research from American Express suggests retailers are increasing their efforts to boost sales. Amex's surveyed 500 senior UK decisionmakers in retail and hospitality businesses of all sizes, with at least one physical store. The research explored their current challenges, investment priorities, and customer attraction strategies. https://shorturl.at/UsCsg