What Trends Are Shaping The Future Of Retail Industry?
With a change in the usage of technology, even the retail industry is undergoing a transformation from its traditional ways of transaction and dealing with customers. In fact, the phase which the retail industry is facing as of now, is very crucial because this will affect their future consumer habits in huge way. Now, it has become very essential to stay connected with shoppers and buyers in order to personalize sales experience. But, the concern is, this is not the limit. There are few more trends that have either emerged or are on the verge of appearance. So, let us have a brief discussion on the trends that are shaping the future of retail industry.
5 Trends That Are Shaping The Future Of The Retail Industry ~
Increasing Access Of Mobile:
Smartphone has made an entry into our lives in such a manner that for today’s generation, it is becoming almost impossible to survive without any access to mobiles and cellular phones. Even research shows that more than 65% American adults are completely dependent on Smartphone, while other 55% are reported of checking their phones after every few minutes. Whether a buyer wants to refer any fashion or desires for deals from retailers, they are all going online. Thus, online shopping is on boom.
Personalized Sale Experience:
By observing the buying habits of consumers, retailers nowadays, offers personalized touched to their products. Specially supermarkets, who welcome a lot of customers on daily basis are well aware of which customer seeks what. Based on their study, they offer discounts or mail ‘sales coupons’, to grab the attention of particular buyers. So that, next time when they visit the retail shop, they come prepared to buy that product.
Innovative Payment Methods:
Currently, it is not that a big deal to procure a product if you don’t carry cash with you. With so many options of payment like mobile, online and credit cards; payment methods have become way easier and tension free. While maximum retailers accept cards, many are going online to allow their customers to shop from their comfort zones and make the payment online. Moreover, if one runs short of cash, he/she can as well opt for payment through EMI (equated monthly installment).
Trend of Instant Messaging:
The introduction of instant messaging tools like Whatsapp, Line, WeChat etc have allowed retailers to communicate with consumers on an one-to-one level. Many people avoid e-mails thinking them to be spam. But this is not the case with instant messaging. Just that, in such a platform, retailers need to decide the level of communication they want to maintain with their customers.
More Investment on E-Commerce:
Since, going online has become the latest fashion, contemporary retailers are focusing on e-commerce investments. Apart from boosting their online operation, some are even considering third party option like Amazon to not only sell their wares but also to curve their identity in the retail industry and market. As per marketing experts, each passing year has seen a rise, in the number of retailers planning to invest on online marketplace.
From the discussed points, it is clear that the retail industry is no doubt undergoing a transition and the trends that are contributing to this shift will reshape the retail marketing into a complete new style.