Retail has been undergoing rapid transformations across the globe over the last decade, and more change is to be expected in the years to come. With the growth of mobile and online shopping platforms, retailers will have to incorporate the latest trends in technology into the shopping experience they offer consumers in order to remain relevant. Here are the major trends they will have to look out for.
Knowing thy customer
Just as technology evolves rapidly, so too does the profile of the consumer. With a world of information at their disposal, shoppers are far more knowledgeable and aware of their options than was the case previously. Brand loyalty nowadays is influenced by a whole host of factors, including image, pricing, availability, accessibility, and social media reviews. Because of this, understanding their clientele, their needs, and their behavior should be the focus of retailers in the years ahead. Fortunately, modern technologies can enable retailers to track the behavioral patterns of their customers, what they like, what they respond well to, and so on. There is now a wealth of data available out there on individual consumer preferences (migliori piastre capelli).
Moving into the virtual
With the proliferation of online shopping and the rise of ever more powerful smartphones and other mobile devices, than can be used to check and compare prices in-store, the very distinction between online and bricks-and-mortar shopping is starting to blur. Before long, omni-channel retailing will be the norm for how everyone shops; retailers will have no choice but to adapt, and deliver better value than is offered by alternatives like Amazon.
Operational efficiency can no longer be overlooked
The growth in tracking technology will mean retailers have no choice but to keep close tabs on what consumers are buying at that very instant – and not just buying, but liking also, and plan out the entire supply chain accordingly. Unsold inventory is a major source of lost revenue for businesses currently; due to advances in technology that make much closer monitoring possible, retailers will need to focus heavily on operational efficiency to maximize profit and stay ahead of the game.
Changing the face of bricks-and-mortar spaces
While online shopping is highly useful for customers who know exactly what it is they are looking for, there will always be a place for physical stores, which offer experiences that just can’t be had online. What E-commerce can do, however, is enable stores to create new, interactive and immersive retail experiences for their customers.
Gazing into the crystal ball
The availability of so much user information and data concerning consumer preferences that technology has made possible, will enable retailers not only to track current consumer preferences, but also to predict future patterns and trends. The ability to extract real value from this mass of data is one of the major things that will characterize the market leaders of the future. Retailers will have to understand the evolving dynamics taking place before their eyes, anticipate the technological destructions and disruptions, and then adapt accordingly.