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Black Friday is what happens when the dangerous mixture of anxiety and excitement are blended in a retail test tube. Although we might think that we know what is going to happen, the result is almost never as predictable as we would like it to be; with the risk that it might all blow up always a possibility. Each year in the build-up to the day, both consumers and suppliers deal with the fact that things can go horribly wrong.
On Tuesday Stats SA announced that SA’s GDP had contracted 51% between April and June (using annualised quarter on quarter numbers – in other words, this is a 17% decrease for the quarter) as a result of the lockdown imposed in response to Covid-19. The contraction was shocking – but not unexpected. Given that government took the decision to implement one of the harshest and longest lockdowns globally, the severity of the economic contraction should not come as a surprise.
Nerina van Niekerk is 24 and lives in Stellenbosch, some 52 kilometres from Cape Town, capital of one of Africa’s most wired provinces. In the Western Cape, 75% of people who are 16 and upwards have access to the internet. This compared to Gauteng, at 55%.
Restructuring professionals more positive about the economy, but retail, agriculture and construction sectors remain at risk, 2017 Deloitte Restructuring Outlook survey finds. The fourth annual...
Banks set to lose the ‘offer’ as digital disruption continues to transform industry. Banks are finding it increasingly difficult to reach and ensure value to their customers in light of the challenge by existing and new fintech competitors who are muscling in on the ‘offer’ - the point at which a customer’s process of research and assimilation culminates in the customer acting.
Consumer buying decisions rely heavily on the retail environment, so it makes sense that retailers are searching for more innovative ways to engage customers at every touchpoint, both online and in-store. With studies pointing to most in-store purchases being made on impulse rather than pre-planned, retailers would do well to consider how customers engage with the retail environment.
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