2023 was another year defined by pricing pressure felt by competing chains looking to gain ground in the Belgian market, where customers struggle with a cost of living crisis.
What is churn? We define it as the percentage of customers of a brand or sector that purchased during one quarter but not the next. High churn levels could be expected for the highly seasonal home improvement industry, but the numbers show a staggering drop for certain brands.
Looking closer at online and retail purchases, this study focuses on highlighting the divide between both channels and shows which brands flex their omnichannel muscle most, as well as the marked seasonality that characterizes the sector.
The summer sales period provided a boost in activity not seen since January, but performance may have been affected by eager shoppers jumping to spend immediately after a difficult lockdown.
PayLead’s data team decided to look into our relationship with money, and more specifically, with cash to see how confinement has altered a longstanding consumer behavior.