By: Inside Retail
Health experts are still debating whether the world might finally see the light at the end of the Covid-19 tunnel this year, but we’re more confident that this is the year for retail brands in Southeast Asia to ramp up their partnership-building efforts.
Whether it’s the rising costs of search, social and display ads, the removal of third-party cookies or the change in consumer habits to favour brand authenticity, the stars have aligned to make partnerships the most attractive alternative to traditional marketing and sales for growth-minded brands. For popular sports retailer Decathlon Singapore, partnerships drove 50 per cent of new customer acquisition in just eight months, with a quarter-over-quarter (QoQ) revenue growth rate of 156 per cent.
When looking at all the possible partnerships a retailer can form, three specific types stand out for their proven track record in helping retail brands strengthen brand awareness, reach new customer bases and generate rapid revenue growth.
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