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Customer Loyalty is Dead: Andrew Busby, Forbes & BBC Retail Analyst
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This week's guest is Andrew Busby, renowned retail analyst and media contributor, founder of Retail Reflections, and author of "Harry Was Right All Along”.
Andrew challenges the notion of true loyalty in retail and whether it even exists in a cost-of-living crisis. He expands on the changing nature of consumer behaviour, and how any misstep from a brand – from pricing to location, to marketing – can result in a mass exodus of formally “loyal” customers.
We also talk about the concerning trend of greenwashing within the retail industry, where brands claim to be sustainable, but their actions tell a different story.
Finally, Andrew touches upon the potential of TikTok to become the most popular e-commerce platform, alongside its ability to influence consumer behaviour. He urges retailers to develop a strategy that leverages their TikTok presence as a primary sales channel.
I hope you enjoy this episode as much as we did.
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Разделы
1. Customer Loyalty is Dead: Andrew Busby, Forbes & BBC Retail Analyst (00:00:00)
2. The Changing Concept of Retail Loyalty (00:00:01)
3. Retail Loyalty Schemes and Consumer Sustainability (00:10:57)
4. TikTok and AI in Retail Impact (00:24:16)
5. Rapid Fire Round (00:34:16)
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