Ouch! Right in the wallet… How to deal with a cost-of-living Christmas crunch
Customers are changing their spending patterns and online behaviours due to the rising cost of living and recessionary environment. How can ecommerce brands innovate and evolve to meet this new set of circumstances? Ecommerce transactions were settling post-pandemic to a ‘new normal’, albeit at a higher level than 2019. But the cost of living is biting deep into household income. How can ecommerce players help their customers and reduce some of their own costs? The panel will discuss: How sustainable is free delivery and free returns? Who is showing a way forward and what do we expect the customer reaction to be? Subscription fatigue? The direction for D2C has been to get subscribers to sign up to regular deliveries/boxes etc so there is guaranteed income. What’s the future of the subscription model in recessionary times? ‘Just in time’ ordering keeps stocking costs down for retailer and makes goods cheaper for the customer – but hard to square with current logistics problems.