Small shops are improving their physical store experiences as shoppers return. Plus, higher wages aren’t the most important reason for people to seek new employment, and it’s a lot more expensive to acquire new customers than it used to be.
Data:
60%: Share of Homebase clients that closed their businesses at the beginning of the COVID-19 pandemic.
61.6%: The U.S. labor participation rate in September 2021, down from 63.4% in January 2020.
36: Number of Target stores with Apple shop-in-shop experiences.
59%: Share of customers who prefer to pay for and receive products in stores.
10X: One tea seller’s cost increase for acquiring a new customer through Facebook and Instagram ads.