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Newsletter June 2024 |
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| Hello Reader, |
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| Welcome to the latest edition of GH Pulse, your go-to source for the most recent developments in the retail landscape. This month, we delve into the overwhelming nature of the e-tailing world, exploring how too many choices lead to decision fatigue and create anxiety among digital shoppers. |
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| A recent survey involving 19,000 consumers across 12 countries has highlighted a significant trend: 76% of consumers feel overwhelmed by the sheer number of choices available. Furthermore, 74% report feeling inundated by relentless advertising. This overload has resulted in tangible consequences, with 88% of consumers abandoning purchases in the last quarter of 2023. The same report indicates that 67% of consumers have seen no improvement or find it even harder to make purchase decisions compared to before. Only 33% feel that the decision-making process has become easier. |
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| This underscores the importance of simplifying the shopping experience to retain consumer interest. Amidst this complexity, Generative AI emerges as a beacon of hope. It promises to streamline the decision-making process and foster better customer relationships by providing personalised recommendations and reducing the cognitive load on digital-native consumers. |
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| On the brighter side, retail sales in India saw a 4% increase in April 2024 compared to the same month last year, according to the Retailers Association of India. Despite this growth, the sector isn't experiencing the anticipated double-digit surge as consumers exercise caution with non-essential and capital purchases. However, specific categories like QSR, food & grocery, and jewellery have shown significant growth. |
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| In conclusion, while the retail sector shows promising growth, the overwhelming number of choices and constant advertising are significant consumer challenges. Leveraging technologies like Generative AI to simplify decision-making processes and focusing on consumer-friendly practices will be crucial for retailers moving forward. |
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| SPOTLIGHT |
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| eCommerce Untangled at the Internet Commerce Sumit
MENA 2024 |
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| CLient additions |
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| GH CLIENT TESTIMONIAL |
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| "GreenHonchos helped us solve a lot of consumer experience pain points on our website. From 1% to 30% eComm business, we grew fast.
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| Abhishek Bajpai - CEO |
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| GH INSIGHTS |
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| Featured Story |
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| Revolutionizing eCommerce Through Innovation & Excellence, GreenHonchos Wins Prestigious Digital Transformation of the Year Award |
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| People Power |
| GH strengthening the body, mind and soul with the goodness of yoga. |
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| A leading full-stack Digital Commerce Enabler helping growth-focused Retail Brands in their Digital Transformation journey right from creating high-converting websites powered by composable commerce technology to crafting brand-native digital content that leads to conversion and retention as well as enabling the omnichannel brand growth in the global eCommerce spectrum. |
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| Scale Your Business Online! |
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