Retail Trends of 2017

Retail stores have had some major changes since 2017. Over the past year, retail stores have shifted their focus to better fit their customer needs and wants. The progress that has been made has not gone unnoticed. Every year retail seems to be getting more personal and technologically savvy. This article will dive into some of the details about the changes in retail over 2017.

Transparency and Sustainability

Customers have become more socially conscious over the last year. Customers are more interested in where their money is going rather than what they are purchasing. Companies that conduct philanthropic efforts have seen their customer base grow.Customers are concerned with where products are made and how they are made. An increase in environmental awareness across the globe has customers thinking about the efforts put into their purchase.  The internet has served as a great tool for businesses and customers to connect. The internet can provide customers with a thorough background of what a company does, and what it stands for. Transparency has become an important practice in attracting customers.Companies can post more material and extend their outreach with social media profiles and their website. Companies can relay their inner workings of their business through their website.

Mobile Payments

Our smartphones are getting smarter every year. In 2017 the trend of paying with your phone has become a norm. Customers can now access their bank accounts through their mobile device. With their mobile device, they can purchase something with a simple scan of their phone screen. This trend is predicted to continue in 2018. More and more people are picking up smart phones for their new mobile device. It may become impossible for companies to survive without adapting to this mobile paying trend. At some point, there may be a time where no one uses credit cards anymore to pay for things. Wouldn’t that be interesting.

Personalized Experience

Customers crave a personal connection to a business. Personalized experiences for customers has been around since the dawn of business. The old practices of a personalized experience have been outdated. Technology has played a significant role in customer outreach for a customized experience. Companies have sent emails and newsletters tailoring them to what the customer may want. Smaller companies have and the luxury of getting to know their regular customers by their first name. All of these methods are effective in engaging in a personal experience with your customers.

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