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Weekly Trade Update: 22/08/24

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Weekly Trade Update: 22/08/24
FSB vision to transform the high street
Understanding consumer behaviour for product development
Trade with Mexico: Join our upcoming webinar!

FSB vision to transform the high street

The FSB has unveiled a plan to help transform our high streets for the many SMEs based on them. This plan aims to reshape high streets into places that will meet evolving consumer as well as economic needs, and support the next generation of entrepreneurs. Some of the measures set in this plan include supporting pop-up shops, creating mobile phone-based loyalty programs, and showcasing local highstreets in major tourism campaigns, based on research responses from a recent FSB report. “By providing the infrastructure, flexibility and digital connectivity that modern businesses demand, high streets will have the resources available to become resilient, dynamic hubs ready for the future.” – Tina McKenzie, Policy and Advocacy Chair at FSB.

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Understanding consumer behaviour for product development

Businesses who understand the wants and needs of their customers are much better positioned for success. Consumer behaviour analysis in product development involves looking at the customer journey, understanding their buying decisions, and looking for any pain points or gaps in what you offer. Adopting this kind of approach offers benefits such as saving money and time, and keeping you ahead of competitors. Read this article for tips on how to adopt the best practice of customer-centric product development.

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Trade with Mexico: Join our upcoming webinar!

Next up in our Global Trade Webinar series: Mexico! Join us on September 11, 3pm BST. Mexico is the 12th largest economy in the world and is forecasted to grow by 42% by 2035. With this in mind and its population of over 130 million, Mexico looks to be a promising marketing for businesses looking to expand. With the upcoming CPTPP deal later this year a further reduction in costs, increased supply chain reliability, and improved market access are expected. Register for the webinar via the link in the page below to find out how these FTAs improve opportunities for businesses trading with Mexico.

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