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Reuters World News
The evolving face of retail
Nov 30, 2024
Arriana McLymore, a Reuters journalist specializing in e-commerce, and Siddharth Cavale, known for his insights on big box retailers, delve into the shifting retail landscape as the holiday shopping season kicks off. They discuss how Black Friday has transformed, driven by online shopping trends post-pandemic, and explore the aggressive marketing tactics of companies like Timu and Shein. Additionally, they highlight the role of AI in revolutionizing supply chains and offer tips for navigating potential price hikes during the holidays.
21:00
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Quick takeaways
- Consumer shopping habits have significantly shifted towards online channels, with an emphasis on convenience and price comparison, particularly post-pandemic.
- Retailers are adapting to supply chain challenges by prioritizing near-shoring production to ensure stability and reduce tariffs, impacting future pricing strategies.
Deep dives
Changing Consumer Habits
Recent trends show a significant shift in consumer shopping habits, particularly since the pandemic. While Black Friday has traditionally marked the start of the holiday shopping season, many shoppers now prefer online shopping, often utilizing mobile devices for convenience. Retailers are responding by starting promotions earlier and focusing on where consumers can find the best deals, particularly for those with tightened budgets. This shift emphasizes a growing preference for streamlined online experiences and price comparison, leading to an increased interest in platforms that offer extensive retail options.
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