Niche Marketplaces Gain Momentum: The Week in Retail

Specialized marketplaces can tap into niche audiences, boosting engagement and conversion rates, but companies must approach them cautiously. Meanwhile, Nielsen IQ advises retailers to implement new technologies only to enhance the customer experience. Additionally, Liverpool reports a 33.5% increase in revenue during 1Q24. 

Stay tuned for more in retail this week!

Niche Marketplaces Gain Global Traction, Boosting Conversions

Specialized marketplaces, increasingly popular worldwide, cater to specific segments, allowing for personalized marketing and enhancing the shopping experience, ultimately building trust and loyalty among customers. Despite their advantages, challenges such as reaching target audiences persist.

Retail Will Adopt Tech Only if It Enhances Customer Experience

Roberto Butragueño, Retail Vertical Director, Nielsen IQ shared how measuring consumer behavior and market segments is key to gauging the health of a company. After its recent merger with GfK the company can now cater to both fast-moving consumer goods and durable goods sectors. He warns that companies must be aware of how they implement new technologies, as they will only be adopted if they enhance, not hinder, the customer experience. 

Betterware Expands to US, Opens Dallas Offices

Betterware Mexico has ventured into the United States market by establishing offices in Dallas, Texas, marking a significant step in its growth trajectory. Known for its consumer product innovation and direct sales model, the company plans to introduce over 250 new products across various categories in 2024, emphasizing its commitment to delivering value and quality to consumers.

Liverpool Sees 33.5% Net Income Growth in 1Q24

Liverpool saw a 33.5% rise in net income during the first quarter of 2024, totaling MX$41.22 billion, attributed to effective commercial strategies and the Easter holiday period. Despite economic challenges like inflation, Liverpool achieved a robust 9.7% increase in consolidated revenues and notable growth in same-store sales, particularly in Suburbia stores, while strategically managing expenses and enhancing digital presence and payment methods to sustain growth amidst market uncertainties.

Mexican Consumers to Spend Cautiously Post-Elections

Getin's report forecasts cautious consumer spending following Mexico's June 2nd presidential elections, with a potential decline in purchase conversion rates during June and July, posing challenges for physical stores during the summer. Drawing from data since the 2018 federal elections, Getin predicts a continued trend of reduced spending, particularly in July.