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Behind the Numbers: an EMARKETER Podcast
Reimagining Retail: How Retailers and Brands Can Avoid Leaving Revenue on the Table Throughout the Purchase Funnel | Oct 9, 2024
Oct 9, 2024
Join Jeremy Goldman, EMarketer's director of Briefings specializing in retail, and Sarah Marzano, an analyst focused on consumer behavior and retail trends, as they dive into the world of e-commerce. They discuss how retailers often miss out on revenue opportunities during the purchase funnel. Key topics include the importance of accessibility, optimizing discounting strategies, and the impact of consumer expectations during the holiday season. They also tackle the challenges of e-commerce returns and their effect on customer loyalty.
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Quick takeaways
- Retailers must enhance accessibility in both online and physical stores to minimize customer challenges and boost potential revenue.
- Strategic discounting and promotions are essential for maintaining brand value while effectively engaging customers without harming profit margins.
Deep dives
Maximizing Revenue Through Accessibility
Retailers often overlook the importance of accessibility in both online and physical stores, leading to lost sales. Many potential customers face challenges such as color blindness or trouble reading contrasting text, and a significant percentage do not contact businesses for assistance when they encounter these issues. Instead, they simply turn to competitors who offer a more user-friendly experience. Enhancing accessibility, such as providing low-sensory shopping times or avoiding overwhelming store layouts, can create more inclusive environments and potentially increase revenue.
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