Formal retailers in South Africa are losing billions of rands in annual sales because of a disconnect between the customer touchpoint mix that they prioritise and those that their customers prefer., a fintech that offers fast and flexible business funding to South African retailers.
The research is based on an analysis of data for the period between January 2015 to June 2023, and reveals that retailers that continuously tracked and aligned with customers’ preferred touchpoint mix were more successful in growing their retail footprint, than retailers that did not adopt touchpoint-focused sales and marketing strategies. Customer touchpoints refer to the channels where a consumer interacts with a retailer.
Retailers across all subsectors identify the following customer touchpoints as the top five drivers of retail sales in order of importance:Loyalty programmesThe study confirms that the physical store is indeed the top driver of trade sales for all subsectors. However, there are significant differences between each subsector in which touchpoints are most important in driving sales and those that retailers believe to be the most important:Clothing, textiles, and footwear retailers1.
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