Changing World of Retail

The retail industry is going through unprecedented change. New technology is at the forefront of this change, brands and retailers and changing their business models to beat competition and keep up with evolving as is customer’s shopping behaviour.

Consumer behaviour is driven by price and convenience but it’s slowly moving away from instant gratification to unique finds and experiences. Why I say that is because of the high number of high street casualties we have seen recently. The consumer would continue to expect products to live to their online alter egos with free or low-cost delivery and proactive customer support.

As the customer journeys grows on to become more complex the desire to have a seamless shopping experience will become paramount. The days of questioning the significance of social media’s impact on brand building and overall sales is over. Brands will have to develop strategies to marry offline retail shopping with online *be the first* to share culture.

The commitment to low carbon footprint and environmental initiatives means more and more brands (H&M and Marks & Spencer) will have to consider recycling and reinventing products.

Mobile as a customer touchpoint is now intrinsic to any shopping journey whether it means buying products from brands Instagram account, liking a friend’s dress on Instagram and then placing an order or getting notifications of the order being delivered. Mobile shopping is growing and in near future will require planning when it comes to incorporating in brands marketing strategies. The battle between Android and Apple products will deepen further as global brands will see higher adoption rates for Android phones and acceptance of Android payment apps in emerging markets.

If you are working on a marketing plan or a new website don’t ignore mobile! Mobile can not only help you drive more traffic but also improve your conversions.

Please share in comments your experience of developing a mobile first strategy and how it impacted your conversions?

Picture Source: (c) theretailfactory

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