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It's easy to know what you're going to do and what you're going to buy when you go to Walmart, or . However, the lack of such a clear strategy has been a major hurdle for Korn Ferry, said Craig Rowley, senior client partner in retail and consumer consulting at Korn Ferry. In an interview, Rowley said discount retailers attract customers by offering great deals on everyday products.

Today, they all face the challenge that their customer united kingdom telemarketing data base has been hit hardest by inflation, which has grown since the removal of all discretionary spending. Therefore, the key is to get products that customers must have, such as home needs, at a high value. Rethinking merchandise strategy and investing in digital As a result, it must rethink its merchandise strategy and find ways to beat Walmart and Amazon, Rowley said, adding that closing lower-performing stores gives them the opportunity to invest in other stores.

Rowley said one of the mistakes made was failing to adapt to economic changes affecting its customer base. Value retailers have been hit hard by rising inflation, he said. First, it significantly increases the price of purchasing the product. Secondly, this results in their main customers buying most of their basic necessities as their discretionary income is eaten away by inflation.