The retail industry is constantly evolving. In 2021, we observed retail marketing trends that included social media influencer marketing and augmented reality that could fit clothing virtually. Knowledge of this information helped retail businesses improve their marketing initiatives. As we near the end of 2022, businesses—especially brick-and-mortar stores—must keep up with next year’s retail trends. After all, this age of technology requires physical establishments to adapt lest they become irrelevant to consumers. With that said, here’s how you can keep up with retail trends in 2023:
Modernise your payment methods
Consumers are turning away from cash. To be exact, in the UK 23 million people are abandoning cash in favour of more convenient options like cards and contactless payments. While cash won’t be eradicated entirely, it’s best to cater to your consumers’ preferences by modernising your establishment’s payment options. Card payment solutions for businesses will aid you in this transition. In particular, card machines are reliable and convenient for accepting payments. These can be stationed at the till or brought to the customer as they’re usually portable. They safely accept major cards like Visa and Mastercard as long as they have internet access. Another payment solution is near-field communication or NFC-enabled payment terminals. Contactless payments such as Google Pay and Apple Pay need these devices to process transactions. This is a convenient option requiring little to no time when customers pay for their items or services.
Offer personalisation and customisation options
One thing that customers have less authority over when shopping online is the customisation of products. They can only fully personalise goods when they’re in physical stores—which is why you should start offering this option. Allow customers to personalise your products by changing their colour or placing add-ons to improve their look and feel. Not only will this bring foot traffic to your store, but it will also serve as an engaging customer experience that will attract new customers. Data science and machine learning technologies will aid you in this initiative as these detect and analyse consumer preferences. For instance, these can make personalisation recommendations when customers design their products.
Make more sustainable business choices
More consumers are becoming eco-conscious of their purchases and the businesses they choose to support. Your store must invest in sustainable retail solutions to cater to these customers. In fact, 31% of shoppers are more likely to purchase based on their environmental values, while 32% expect brands to be transparent regarding their sustainability efforts. To meet this demand, some solutions to apply in your store are sustainable packaging and incentives. Switch out non-biodegradable bags for compostable and recycled product packaging. Entice customers to participate in environmental protection by offering incentives like discounts whenever they bring reusable bags or participate in recycling programmes. Optimise your customer service
Customer service exists in both the physical and digital retail environments. While traditional retail customer service involves face-to-face interaction with consumers, using chatbots will make this more efficient. Chatbots are artificial intelligence technologies that can answer customer enquiries and concerns. You can station a tablet or smartphone in changing rooms, tables, or corners. This also allows customers to get assistance during peak hours or staff shortages. Optimising your customer service increases consumer satisfaction in your brick-and-mortar location.
Improving your store according to next year’s retail trends will increase satisfaction and bring success to your business. Make sure to modernise your payments, optimise customer service, offer personalisation options, and make more sustainable decisions.