Retail isn’t dead, it’s dynamic. Consumers are always going to want to buy, but in an increasingly digital world how will the retail industry adapt? For any small business owner or entrepreneur trying to stay up to speed with this industry, it is vital to be aware of the emerging trends and changes in retail.
With the dawn of the mobile age it seems only logical that consumers will begin to shop more on their mobile devices. Last year almost 1 in 5 purchases made on lucrative Cyber Monday were made using mobile devices. Increasingly, brands that cater toward the mobile market, with the creation of mobile optimized e-commerce sites or mobile apps, are reaping the rewards of being prepared for this shift in shopping habits. American retail giant Walmart is leading the pack with its mobile application—the Walmart app can detect when a customer is in-store and provides users with store maps and product aisle information.
More and more consumers are blending their social networking habits with their shopping ones. The rise in popularity of social networks such as Pinterest indicates that shoppers are browsing for products and, while not instantly buying, they are ‘pinning’ their favorites to revisit and purchase. Popular fashion retailer Nordstrom has begun alerting in-store browsers to the popularity of certain items on Pinterest to bolster the item’s popularity, and to help boost sales.
With technology being used more and more in the retail industry, we sit on the cusp of a fascinating time for consumers and retailers alike.
Infographic Source: http://www.colourfast.com/
Author: Christopher Landry has extensive Marketing and Sales management experience within the automotive and customer packaged goods manufacturers. He developed and ran his own business for 15 years and is the current Director of Marketing for Colourfast Inc.
Published: May 19, 2014