The retail landscape is shifting radically and quickly. This is not your grandmother’s shopping trip, and for the most part, that’s a good thing. Now, consumers have access and agency like never before. For the retailer, that means that customers are able to interact with businesses and buy products in a way that is flexible and fun. Here are three major trends affecting the retail industry today.
Pop-up stores have been around for years. You have probably seen a temporary Halloween costume store or Holiday gift stores which temporarily locate in an empty kiosk or retail location. However, recently Target has been in the news for their successful Bullseye Bazaar and Bullseye Bodega pop-up stores. So, why are pop-up stores so great?
With the influx of e-commerce, and the way that it distances the retailer from the customer, packaging matters. While your website serves as the first-impression, your packaging will act as the lasting impression. It’s what your customer is left with, and it will likely remain in their home as a reminder of your brand and your business. Thus, it only makes sense to invest in packaging that will promote your vision.
Retailers know this; there are several, current examples of retailers giving customers a tangible, positive experience with their packaging.
Synchrony Financial is a trusted consumer financial services provider with over 80 years under their belt. They’ve just released The Synchrony Trend Spotter – The Latest in Retail and Consumer Marketing; the report outlines the things that consumers value most, and it highlights how retailers can best respond to those consumer priorities.
Synchrony Financial tracked the patterns that currently define retail and mobile platforms. These are the five most important trends they found:
A recent study shows that nearly two-thirds of adults in the U.S. use social media. Retailers, from large multi-nationals to small regional shops, utilize sites like Facebook, Instagram, and Pinterest to promote their brands. These sites not only allow retailers to communicate with customers and spread their brand, they also act as an informative space so that consumers are aware of current promotions and news.
Whether or not you have a social media presence, odds are people have looked for it. Facebook reviews alone have become a significant source of feedback that are useful for businesses and consumers alike. Here are three ways smart retailers utilize social media: