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As we navigate through the course of 2023, both consumers and brands are grappling with various challenges that can disrupt commerce and undermine customer satisfaction. PwC’s 2023 Global Consumer Insights Survey China Report explores the four key aspects of change: economy, technology, experience and brand that are reshaping the consumer market. It reveals that retailers should carve out new paths towards sustainable growth and success by unlocking the power of brand storytelling and transcending non-price attributes across borders.
They should also reduce the price-experience gap to foster brand loyalty, creating a path of least resistance to deal with various frictions and balancing costs and benefits beyond technology hypes.
Consumers change and adapt; retailers must do the same to stay relevant and competitive. Find out more about how these insights can help brands and retailers navigate the next phase of retail evolution: