Retail Trends of 2017

Frank LoBue

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 The old practices of a personalized experience have been outdated.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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How Retail Has Changed

Frank LoBue

All aspects of the business have changed with the dawn of the internet. Businesses have had to tailor their marketing efforts to fulfill consumer’s rapidly growing needs. The internet can be used as a significant tool in establishing a business and maximizing outreach to customers. This article will explain how recent advancements in technology have changed the way customers view retail and interact with businesses.

 

Convenience

 

In order for businesses to be successful in today’s climate, they need to be convenient. Convenience is essential for buyers, especially millennials. Millennials are making up more and more of the customer base in all businesses. The millennials are accustomed to having virtually everything available to them through a computer or smartphone. An online presence for any business is essential. Social media platforms are being utilized for customer interaction and purchasing. Mobile wallets are a trending topic for consumers. Retail businesses need to be able to develop strategies to make interactions user-friendly and easily accessible.

 

Customer Service

 

Customer service has always been a key factor in driving customers to businesses. Even now, in the digital world of customer interactions, customer service plays an important part in retail and all businesses. Whether it is online or in-store, customers seek personalized experiences when interacting with businesses. Retail businesses should use customer data to continue to deliver personalized experiences. Tracking previous purchases from loyal customers is a good way to develop a “recommended” section for them to attract them to your business again. Overall interest in your customers should be displayed. Invest time into your customers to create new loyal ones. Elicit feedback from customers and consider their thoughts for future improvement.

 

Social Media

 

Social media is being used more than ever before. There are many different social platforms that a retail business could use to reach their market. Retail businesses should look to better themselves on the big ticket social media platforms. Facebook, Twitter, and Instagram are adapting to needs of customer and businesses alike. Social media platforms recognize that customers and businesses interact with them and have made it easier to do so. Establish your retail brand to better suit the needs of the growing population of social media users. The social media platforms can be used to engage with customers and then for the customers to share their experience with your brand. A well-designed website can also serve as an integral part of your interaction with customers.