Preparing your business for Black Friday

RSM's talkBIG Podcast

Have you ever wondered why Black Friday is popular in Australia? Our latest talkBIG episode dives deep into this phenomenon as host Andrew Sykes chats with economist Devika Shivadekar and data analytics expert Dr. Ian Tho, uncovering why Black Friday has become a major retail event Down Under.
In a lively discussion, they trace the origins of Black Friday in Australia, explore its growing influence on consumer behaviour, and reveal how it's shaping our retail landscape. They also examine how Australian shoppers are adapting to changing retail strategies, the critical role of data analytics in predicting trends, and the ways AI is transforming the shopping experience.
Highlights include:
Why retail sales are booming during Black Friday sales in Australia.
How data analytics is revolutionising consumer insights.
The shift toward early shopping and online research.
Practical strategies for small retailers to thrive amidst big sales events.
How AI-driven insights are making personalised shopping easier and more effective.
The critical importance of customer experience in driving loyalty.
Tips for retailers to streamline the buying journey.
How economic factors like interest rates are shaping spending habits.
A look at the future of retail and how consumer behaviour continues to evolve.
Tune in for an insightful episode packed with expert perspectives and actionable tips to understand the Black Friday phenomenon and succeed in the fast-changing world of retail!

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Thanks for listening! Visit the RSM Australia website to ask the hosts a question.

Fejezetek

1. Preparing your business for Black Friday (00:00:00)

2. The origins and evolution of Black Friday (00:00:15)

3. Consumer behaviour and retail trends in Australia (00:05:13)

4. Shifting shopping patterns and data insights (00:08:02)

5. Understanding consumer behaviour through economics (00:15:23)

6. Leveraging data for small business success (00:19:39)

7. Maximising Black Friday sales strategies (00:21:35)

8. The role of AI in retail (00:23:16)

9. Leveraging AI for small retailers (00:24:30)

10. Enhancing customer experience in brick-and-mortar stores (00:27:02)

11. The importance of online presence for small retailers (00:30:33)

12. Utilising customer reviews and loyalty programs (00:31:45)

13. Understanding consumer behaviour and data utilisation (00:32:42)

14. Impact of economic factors on retail sales (00:38:42)

15. Future of retail and consumer trends (00:44:16)

16. Strategies to avoid for small retailers (00:46:12)