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Consumers have embraced fulfillment services like ‘Buy Online, Pickup In-Store’ and ‘Buy Online, Return In-Store’ which offer retailers even more opportunity by garnering more in-store foot traffic.JDA says offering incentives can encourage consumers to make more use of these services.According to the ‘Industrial Product Price Index,’ prices for lumber and other sawmill products rose 4.1 per cent from June to September 2017.Since the beginning of 2017, the year-over-year price increases reported by contractors in these two CMAs have in part reflected higher prices for drywall and concrete.Only five per cent of traditional retailers believe their customers are loyal and are searching for innovative approaches to stay relevant against the threat of new competitors, says an EY survey.‘How can retailers afford the rising price of loyalty?Contractors working in Vancouver reported a rise in the costs for architectural and structural building components due to higher material costs and a shortage of skilled labour.
And they know that getting it wrong can be expensive; 80 per cent say a ‘one size fits all’ loyalty approach damages profitability.
’ finds that new consumer standards for price and convenience are placing pressure on Canadian retailers to disrupt in order to remain competitive ahead of the busy holiday season and beyond.
Ted Salter, EY Canada consumer products and retail leader, says, "Digital outlets are empowering consumers more than ever.
The company delved into social media platforms this year, which included a new website and video series.
Even with the rise of e Commerce, most consumers (54 per cent) prefer to shop in-store over any other methods (online, mobile, or social media), says JDA in its third annual ‘Consumer Survey.’ The survey shows consumers value their time, with 75 per cent favouring a quick and easy shopping experience where the merchandise is in-stock over being offered a personalized experience.
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