What’s in store for retail in 2015?
Radio-frequency identification technology, new POS software security features, omnichannel distribution and a wealth of other factors are all taken into account when retail professionals think about what's in store for next year.
Although the merchandising landscape was shaken by the explosiveness of the Internet near the turn of the century, the organized chaos that ensued as largely dissipated. That doesn't mean technology won't have an impact on the retail industry next year.
Focusing on what the customer wants
Retail Customer Experience contributor James Bickers noted some enterprise leaders don't know how to regard trends appropriately. Whenever a buzzword comes to mind, such as "beacons" or "app," some professionals may be to eager to jump the gun. In other words, don't develop a mobile applications unless your customers asked for it. Believe it or not, there are some companies for which it wouldn't make sense to develop and launch such software.
So, what do consumers want? Bickers referenced a survey conducted by the magazine, acknowledging a number of key points:
- The majority of shoppers (86 percent) believe that a retailer possessing an online channel is "important," "very important," or "critical."
- Just under half (45 percent) of respondents maintained shipping charges have a profound impact on which merchants they choose to purchase products from.
- Exactly 63 percent of participants have downloaded a retailer's mobile app, a third of which maintain they rarely use them.
The good word of others
It appears that blog content is going to strongly influence how consumers choose to spend their money. Shoppers already take other people's opinions into consideration by looking at short reviews and ratings posted on product pages, so it makes sense that many are looking for more in-depth, expert critiques of select goods. Specialty retail companies, in particular, will need to pay attention to this trend.
The American Genius spoke with Influence Central CEO Stacy DeBroff, who regarded the research her company conducted on consumer purchasing behavior. She acknowledged that 92 percent of mothers buy products after reading blogs posted by people who detail their experiences with said goods. In addition, 91 percent of moms trust blogs for accurate, honest information regarding items when researching them online.
In other words, content reigns supreme. How can retailers use this to their advantage? Sharing these blogs on product pages may actually discredit the writers' good word. Find unique, indirect ways to connect with these pieces.
