#Consumer
Consumer confidence edges up: ANZ
Consumer confidence edged up marginally over the weekend as respondents felt optimistic about their finances despite gloom about the economy at large. The ANZ-Roy Morgan Australian Consumer Confidence index gained 0.1 per cent from the previous week, with respondents’ perception of the country’s current economic conditions – including the outlook for the next 12 months […]
Trust and the role it plays in creating strong customer relationships
Byline: Charles Heunemann, Managing Director, VP Asia Pacific for Natterbox Limited Acclaimed American author Dr Stephen R. Covey argued that in all our relationships we have an “emotional bank account” and our interactions either increase or decrease the balance of trust and connection. “When the trust account is high, communication is instant, easy and effective,” […]
The power of human connection
In a world where businesses grow more alienated from their customers every day, the rise of AI and chatbots threaten to cut out human connection entirely. One single negative customer experience can result in the loss of a potential loyal and lucrative client, and these are the times when businesses need human intervention. Automated customer […]
How small businesses can best scale content for optimal returns
How can you use content the right way.
Small businesses ‘don’t trust’ energy companies
Business owners say they don’t trust energy retailers.
Equifax accused of breaching consumer law
The ACCC has initiated proceedings in the Federal Court against Equifax (formerly Veda), alleging the credit reporting bureau made false or misleading representations to consumers between June 2013 and March 2017, in breach of consumer laws. Allegations include that Equifax claimed that its paid credit reports were more comprehensive than free reports, when they were not. […]
Consumers increasingly spending with large businesses as SMEs lag behind in the tech stakes
Australia’s small businesses have been slow to leverage technology that would improve the customer service experience even though consumers are increasingly turning to large organisations to satisfy their spending needs, according to Katrina Konstas, Vice President Small Merchant JAPA, American Express. Konstas spoke with Dynamic Business about findings from American Express’ Economy of Shopping Small: […]
Toys “R” Us bankruptcy: lessons for retailers
Hard to believe but Toys “R” Us has sought bankruptcy protection. It’s interesting to hear the Australian operations remain unaffected, it’s hard to believe as we’ve heard and seen for so many years the success of Toys “R” Us. As the old adage goes…learn from failure. Here are five things every retailer needs to learn […]
Why ignoring customer feedback is the most dangerous thing a business can possibly do
In this age of social media and instant communication, customers share their experiences broadly, especially if those experiences are negative. People vote with their feet, taking their business elsewhere based on the comments of friends, peers, and even strangers online. Businesses therefore need to understand that the customer experience is critical to financial success. The […]
Too good to be true: why a negative review could be exactly what your business needs
With more Australians turning to ratings and review sites to help them make purchase decisions, it is imperative that businesses have a strategy for responding to negative reviews. Why bad reviews aren’t so bad A negative review isn’t necessarily a bad thing, as it can also provide businesses with an opportunity to develop the business […]
Reinvigorate and boost sales with ‘smarketing’
It’s a tough time for retail sales, with Australian Bureau of Statistics (ABS) data showing this key driver of economic growth is stalling. Traditional sales tactics are becoming less effective due to the wealth of information freely available to people today and, thus, the rise of the savvy consumer. Trends globally echo this sentiment, with 57% of retailers agreeing buyers are less […]
Everything your ecommerce business needs to know about accepting foreign currency
Thanks to the rise of powerful and affordable ecommerce tools, Australian businesses can easily go global from day one. [Note: This article is the fifth in a multi-part series by Chris Dahl, providing guidance on setting up an ecommerce business. Read Part 1: Commerce Success Begins With Laying Solid Foundations, Part 2: Commerce partners: who’s right for you?, Part […]
Small retailers urged to trial not surcharging ahead of next year’s ban on excessive fees
In May, this year, the Reserve Bank of Australia released a new surcharging standard, which introduced a ban on excessive surcharges. The ban, which is being enforced by the Australian Competition and Consumer Commission (ACCC), commenced for large retailers this month but all other merchants have until 1 September 2017 to comply with it. Dynamic […]
Catch of the Day and Beserk named shoppers’ favourite online retailers by StarTrack
Deals website, Catch Of The Day and Brisbane’s Beserk Clothing received top honours at last night’s 2016 StarTrack Online Retail Industry Awards (ORIAS) gala, hosted at Dockside Pavilion in Sydney’s Darling Harbour. The StarTrack ORIAS People’s Choice Award was launched in 2015 to give online shoppers the opportunity to have their say on the online […]
Embrace cashless consumers to boost business and remain relevant, retailers told
As Australia transitions to being a cashless country, retailers are being urged to stay ahead of the curve and embrace new payment innovations. Those who don’t futureproof their businesses, but instead restrict the ability of consumers to make electronic payments, are not only missing out on sizeable business but risk becoming obsolete. Garry Duursma, Head, Market Development […]
Is your business effectively using review sites to reach consumers?
For many people, getting your business online consists of starting social media accounts and finding the best ways to keep your website up to date. These can be expensive and time-consuming tasks and may make you wonder whether digital marketing actually generates a return on your investment. But did you know more than 78% of […]
Overseas economic woes cause drop in Australian consumer confidence
Most of the upswing in consumer confidence that came as a result of the Government’s Budget has been reversed this week, according to the latest ANZ-Roy Morgan Consumer Confidence findings.
A snapshot of the Digital-First consumer
A growing breed of consumers who select a digital option as the first source of interaction are known as the “digital first”. They prefer to engage in activities such as seeking a product or entertainment, contacting a brand, connecting with friends, or looking for love through digital means.
Consumer confidence rises after RBA cut
Consumer confidence has strengthened following the Reserve Bank of Australia’s decision to cut the cash rate to a record low of 2.0 per cent.
ACCC 2015 Agenda: Cartel conduct, truth in advertising and adequate penalties eyed
The ACCC is highlighting cartel conduct in government procurement, truth in advertising, competition and consumer issues in the health sector and industry codes as some of its compliance and enforcement priorities in 2015.
Leading causes of sale abandonment revealed
New consumer engagement figures have revealed that Australian consumers expect real-time help within 78 seconds when online.
How to stay debt-free this Christmas
Businesses have been urged to keep on their toes this holiday season to make sure they’re not left in debt in the New Year.
Businesses focused on staying sane this Christmas
Half of SMEs are focused on simply getting through their workload with their sanity intact rather than increasing sales this festive season.
Hospitality sector says buying online makes no difference
Hospitality product retailers believe that locally made products still reign supreme in the sector.