Revenue Diversification Can Help Retailers Achieve Their Most Important Goals Expected Or Achieved Benefits From Diversifying Revenue Streams By Industry DRUG AND GROCERY (N=73) LUXURY AND BEAUTY (N=58) APPAREL, SPECIALTY, AND SPORTING GOODS (N=76) Enhanced customer acquisition efforts 52% Improved penetration of new market 59% Increased brand awareness 54% Improved online and in-store experiences integration 44% Increased brand awareness 48% Improved customer insights 43% Improved ability to anticipate and proactively respond to changing consumer expectations 44% Improved ability to anticipate and proactively respond to changing consumer expectations 45% Increased hyperpersonalization of products or services 43% Improved penetration of new market 38% Enhanced customer acquisition efforts 40% Improved ability to anticipate and proactively respond to changing consumer expectations 41% Improved brand loyalty/retention 34% Improved online and in-store experiences integration 38% Improved understanding of changing market dynamics 38% Increased personalized customer experiencesretention 30% Increased hyperpersonalization of products or services 28% Improved online and in-store experiences integration 34% Improved understanding of changing market dynamics 37% Improved brand loyalty/retention 38% Enhanced customer acquisition efforts 39% Increased hyperpersonalization of products or services 32% Increased personalized customer experiences 29% Increased personalized customer experiences 36% Improved customer insights 29% Improved customer insights 17% Improved brand loyalty/retention 26% Increased brand awareness 51% Improved understanding of changing market dynamics 52% Improved penetration of new market 46% 13 © FORRESTER RESEARCH, INC. ALL RIGHTS RESERVED. 12 Base: 326 B2C strategy decision-makers in the retail industry in the Americas, Europe, the Middle East, and APAC Source: A commissioned study conducted by Forrester Consulting on behalf of Mastercard, March 2024
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