2024 trends to watch: struggles for retailers

The dominance of e-commerce may continue to challenge traditional brick-and-mortar retailers. Businesses need to adapt to changing consumer preferences.

E-commerce Dominance:

Ongoing global supply chain challenges could affect inventory levels and the ability of retailers to meet consumer demands.

Supply Chain Challenges:

Evolving consumer behavior, including a preference for online shopping and experiences.

Changing Consumer Behavior:

Consumers are increasingly considering sustainability and social responsibility. Retailers embracing eco-friendly practices and ethical sourcing may gain favor.

Sustainability and Social Responsibility:

Retailers incorporating technology, such as augmented reality or smart shopping experiences,.

Technology Integration:

Retailers may need to adapt to new business models, such as subscription services or direct-to-consumer approaches, to stay competitive.

Adapting to New Business Models:

Inflation Concerns:

Innovative marketing strategies, including social media engagement and personalized experiences.

Innovation in Marketing: