Top Retail Trends for Fall 2016 And Beyond
Some trends that retailers need to keep abreast with to maximize their earnings this shopping season.
- Electronic Payments
- Mobile Shopping
- Consolidated Customer Information
- Facilitating Smooth and Seamless Shopping
- Convenience Will Be the Key
Different forms of electronic payment options will dominate the retail scene this shopping season. Along with card payments, retailers must provide the flexibility of mobile payments, e wallets etc. Some key payments options that retailers need to consider seriously are: PayPal , Mercury, Poynt. These are smart payment terminals that integrate several payment options into one.
Mobile shopping will definitely be on a high. But the important point to note here is that bigger stress is going to be on the fact that mobiles will play an integral role in ancillary sales. Mobile will be a huge platform for webrooming, where in customer will look for the products online and then walk in-store and buy it. Most people on the go are busy surfing on their smart phones, and webrooming has become very common. Hence, mobile presence for brands and stores will provide adequate exposure to prospective customers.
Retailers will have to find ways to integrate various channels and customer touch points to have a unified central database of customers that is enriched at every experience with the customer irrespective of the channel. This is a huge task and brands will have to integrate this in their central strategy.
Online shopping has become as common as in-store shopping. What retailers need to work on is making this experience friction-free and smooth. Easy navigation, one click shopping, easy electronic payments, return policy etc., all these things will play major role in deciding the men out of boys in retail.
Shoppers will choose convenience and value over promotions and offers. Promotions and offers will have their charm, but not at the cost of convenience for the customer. To stay competitive, brands will have to give due importance to personalized offerings, convenient shopping experiences and of course great value to the consumer. The buying power of today’s consumer is more, hence value is more important than a mere discount. And this trend will be on the rise.
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