After two years of chaos and disruption, experts forecast 2022, to begin with, a post-holiday hangover. Given the confluence of current events, a recession is inevitable.
FREMONT, CA:Research explicitly depicts that pricing is likely to be a priority for senior management. According to recent research conducted by the University of Michigan, inflation is wreaking havoc on petroleum, housing and food prices and therefore the new year began with consumer sentiment in low spirits. Although there are lots of work opportunities, the 2020 savings and house equity boom is over.
Just when demand is predicted to diminish, a deluge of late-arriving seasonal goods is creating a massive inventory bubble. Come January and February, when retailers begin reporting fourth-quarter numbers are expected to be optimistic, many companies that benefited from the inventory kept lean by supply chain issues are likely to be running aggressive promotions and swimming in red ink.
The pandemic has enabled ten years of advancement in the e-commerce industry, thus making shopping go seamless. As a result, the industry has begun to catch up to Amazon as online marketers, and in the process, has learned how to use the advantages of stores for transactions that begin online-click and collect.
However, experts claim that the conflict between e-commerce and the traditional store is over and the store has won the battle. Experts cite Amazon’s development of a portfolio of speciality stores in the grocery and consumer products sectors as a piece of evidence. Also, they anticipate that Amazon is trying to replicate the success of Walmart.
Customer Experience could be a Key Strategic Initiative in 2022. This new year is looking at technology and customer research to build an experience that is as frictionless as possible- from the online experience to the so-called “walk-out” stores like Amazon’s Go grocery store which has no cashiers.
Marketing is a part of the consumer experience and the whole thing is identified as an omnichannel approach. This comprises collaborations like Amazon’s partnership with Kohl’s to handle returns and carry some Amazon items, which fall under this category.