Understanding the consumer

- Looking at the storefronts, you'll see a series of domestic fashion brands have withdrawn from traditional retail channels recently. But the jewelry market in our country is thriving on e-commerce platforms. So, ultimately, is this industry flourishing or declining?

- Some brands fail and disappear completely due to inability to withstand high operating costs. On the other hand, brands catering to the youth consumer segment continue to thrive. This is because they closely follow consumer needs and listen to their customers. Their designs are therefore both trendy and seasonal, selling quite well. The reason online channels are strong is because of more competitive costs compared to renting physical stores. However, these businesses still have to spend a considerable amount on online advertising.

- After a short period of bustling activity, many storefronts had to close down. To attract tenants, landlords had to lower rents?

- One noteworthy aspect is that rental prices will significantly impact property values. Landlords can only negotiate price reductions to a limited extent. However, the growth of e-commerce may foreshadow difficulties for traditional business models.

- The majority of buyers are prioritizing brand, trustworthiness, and shopping experience over low prices. Regardless of the market segment, businesses will survive if they understand their consumers.

TU QUEO

Source: https://www.sggp.org.vn/hieu-nguoi-tieu-dung-post812343.html