The digital revolution has led to dramatic shifts in consumer behaviour, and retailers who want to stay ahead in the market must relook at their approach, says Serena Ho, director and head of consumer marketing at BDO and Faheem Hoosen, audit partner and head of assurance at BDO KwaZulu-Natal.
As food prices hit a 14-year high in April, inflation skyrocketed and many consumers had to rethink their spending — leading retailers with little choice but to rethink their strategies. Shoppers have come to expect a completely different experience, and retailers must follow suit with more pliable operations and strategic investments to enable profitable and sustainable growth.
