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Growing Trends in Retail Industry

business-to-business shopping trends

Retail Industry Trends to Look For!

The retail business is undergoing significant upheaval. Customers’ attitudes and demands are rising, and they have more power than ever before. It’s critical for retailers to be aware of key industry patterns in order to ensure that their companies thrive now and in the future.

Here are six retail industry trends that merchants should embrace in order to ensure the long-term success:

1. Retail Is Now Omnichannel

Retail is no longer just about offline sales. Merchants are now considering the overall experience that shoppers have with their brand, regardless of whether they interact with it in-store or online. For example, these days, customers can buy online and pick up in-store. This one step saves customers time and money; they no longer have to pay for shipping, and they don’t even have to wait for the item to be shipped to them.

Overall, companies that adopt an omnichannel approach will be able to develop customer loyalty by consistently offering better service than competitors do.

2. Technology Trends Are Becoming More Important Than Ever

Retailers are embracing technological advances to improve customer satisfaction. For instance, many are expanding their use of personalization technology to help customers select products that are relevant to them. As a result, shoppers are more likely to make purchases, which leads to higher sales volumes for merchants.

Technologies such as Artificial Intelligence, chatbots and virtual assistants are other examples of how retailers are using technology to make shopping easier for customers.

3. A Customer-First Approach Is the New Standard

Retailers that place their customers’ needs ahead of everything else will do better than those who don’t. With so many options available, shoppers often share their opinions about their experiences online, which helps other potential customers to know what they can expect from a certain retailer. Customers can also offer real-time feedback when retailers use live chat, live video, and other communication tools.

Companies that invest in creating better experiences for shoppers will enjoy long-term success with their businesses. This customer-first approach also benefits the retailer because it helps them to anticipate and solve problems, which prevents repeat issues from occurring.

4. Home Delivery Is Growing in Popularity

Given the rapid rise of eCommerce companies, home delivery is becoming more important than ever before. For example, these days consumers can buy nearly anything online and have it delivered to their homes. This is convenient for shoppers because they don’t have to leave the house in order to shop.

Another trend that’s worth noting is same-day delivery, which allows customers to receive products right when they need them. These options increase customer satisfaction and brand loyalty; however, they can also put a lot of stress on a company’s logistics network, so merchants must invest in high-tech processes that are capable of meeting these demands.

If you are a retailer looking for a home-delivery option, then Haultail® on-demand delivery is one of the best options on the market. We deliver regular parcels within 4 hours and expedited parcels within 2 hours.

5. Mobile Is Becoming More Important Than Ever Before

Mobile commerce is increasing in popularity, especially among younger generations of shoppers who rely heavily on their smartphones to make purchases online. Most US-based consumers now use their phones to shop, and about 30% of global eCommerce traffic comes from mobile devices.

Given the huge growth of mobile shopping, retailers need to adjust their websites to accommodate these shoppers. According to a recent study, consumers prefer sites that are easy to navigate on a smartphone or tablet. Only 35% of US shoppers will return to a site that isn’t optimized for mobile browsing while 46% will shop at a competitor.

6. Consumers Are Looking for Transparency from Retailers

Buyers are opting for retailers that offer clear and accurate information about their products and services. For instance, consumers want the same level of transparency that they get from some of the large eCommerce companies, which share product reviews and ratings on their sites.

According to a study by BCG, more than 50% of global shoppers will pay more for a brand with strong ethics and values.

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