6 Retail Predictions for 2017
The retail industry has been through some pretty exciting changes over the last few years and 2017 promises to be no exception. When it comes to running a successful retail business it’s all about keeping up with customer expectations and trends, but if you don’t know what they are this is going to be very difficult to manage.
Online marketing specialists CPC Strategy have come up with a number of predictions and trends that they believe are going to come about in 2017 and I thought I would just share them with you here.
These predictions are the result of interviewing six experts in the retail industry and they are essential reading for anyone who wants to enjoy retail success in 2017.
- Mobile will surpass desktop: Mobile marketing has been growing over the past few years and we’re now at the point where mobile purchases are likely to exceed desktop based ones. As a marketer you need to be where the customers are and this means focusing on mobile marketing strategies like never before.
- More personalisation in marketing. We’ve already seen an increase in the amount of personalisation taking place in marketing and this is set to continue in 2017. Marketers will increasingly use data to track customers’ previous purchasing history and behaviour and use this information to tailor their marketing specifically to the individual.
- Omni channel marketing. Customers are increasingly switching between different devices as part of the buying journey. This means they may conduct research from their mobile phone, purchase from their laptop and pick up a product in store. If they are going be effective in their marketing, brands need to keep on top of the many different places their customers spend time and ensure a consistent approach and experience across all platforms.
- Technology will play a bigger part in store. Enhancing customer experience in store will become essential for brands that want to keep up. This means making use of technology like interactive fitting rooms, colour matching and self-checkout to make the experience more enjoyable and more efficient.
- Customers will be able to search local inventory. This is already something we’re seeing to a certain extent, but it’s likely to increase in the next year. Searchable local inventory means that customers can search local stores in their area to see what they have in stock and what they don’t. This in turn will play a big factor in their final decision when deciding where to purchase a particular product.
- Made to order will become more popular. Personalisation is such an important factor in the purchasing decision and the ability to tailor products to their specific needs is likely to increase this year. Consumers are getting used to the idea of having products made to suit them as individuals, which means that made to order is going to become even more important in the near future.
These trends are just a snapshot of what we can expect from the retail market in 2017. If you can tap into them you can potentially gain an advantage over your competitors and enhance the success of your retail business this year.