Retail Analysis


SUSTAINABILITY DRIVES HIGH QUALITY SHOPPING


Amber Hovious, VP of marketing and partnerships at Teamwork Commerce discusses how to balance online and brick-and-mortar retail operations in 2024.


A 6 | January/February 2024


ccording to a survey by Bank of America, 42% of customers intend to spend more online over the next 12


months, with convenience being the key driver. The trend seems to be already in action, with 2023’s Black Friday weekend generating $38 billion in online sales, indicating an increase in online shopping. Meanwhile, there was also a significant consumer appetite for in-store shopping experiences. According to McKinsey, 85% of customers planned to purchase at least one item in-store in the 2023 holiday season. The ability to try products physically


remains significantly valuable. While one sales


channel may outpace the other in the short- term based on consumer preferences, both online and offline fulfilment are crucial for retailers to thrive in today’s environment - where consumers demand convenient experiences that best suit their evolving needs. Retailers need to be able to effectively manage operations across both brick-and-mortar and e-commerce.


The balance between offline and online: Why is it important? Today, customers have unique needs and diverse shopping preferences. Some favour the ease of purchasing online, while others place a


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