The retail landscape is always changing. With the introduction of innovative technologies and shifting customer demands, retailers must continuously adopt new strategies to earn sufficient revenue and stand out from a plethora of competitors.
Staying on top of trends can be difficult, especially when they fluctuate so frequently.
In this post, we’re taking a look at some of the biggest retailer trends to drive loyalty from female consumers and how you can adopt them to ensure loyalty and revenue. Let’s begin.
A Powerful Online Presence
Today, having an online presence isn’t a “nice to have” for retailers but a “need to have”. In a recent PEW Research study, it was revealed that 8 out of 10 Americans shop online, that’s 79% of all U.S. consumers.
Having a powerful presence online has grown more imperative over the years and that’s because it can put you on the map, increase your brand awareness and make it easier for customers to find you. In addition, it gives you a greater scope so you don’t have to rely solely on foot-traffic.
Having a powerful online presence, however, isn’t as simple as having a functional site – it’s much more than that. A powerful online presence starts with a customer-centric site and social platforms that are engaging, user-friendly, mobile responsive, and easily searchable. Both your site and your social channels should appeal to the customer while eloquently conveying your brand.
To stay on top of this trend, you should be updating both your site and social channels to regularly meet shifting consumer demands. Keeping the customer top of mind when you create your site or engage on social channels will ensure you’re getting the response you need to increase brand awareness, loyalty, and revenue.
Personalize The Customers Experience
Personalization is tailoring your shopping experience to fit the needs and wants of the customer to increase satisfaction and loyalty. Online or in person, personalization uses shopping cues to generate a customer profile that can be leveraged for suggestions of present or future visits.
Personalization can be as simple as using the customer’s name in conversation or as complex as providing a one on one personalized shopping experience. Whatever the case, personalization is a strong tactic to increase customer loyalty and boost your bottom line. In fact, in most cases people are willing to pay more if you can proactively understand their needs: According to a recent report from Accenture, 75% of consumers are more likely to buy from a retailer that recognizes them by name, recommends options based on past purchases, OR knows their purchase history.
Take Nordstrom for example, a retail powerhouse that is unrivaled when it comes to personalizing the customer experience. In instances where a customer has picked out a couple of items, Nordstrom team members or online tools will suggest add-ons to complete the customer’s look. This not only helps the customer envision the outfit but also helps foster a more personalized relationship, not to mention increase sales per transaction.
Nordstrom’s suggesting feature lets you envision your complete look.
(Image source: www.nordstrom.com)
Another innovative way of personalizing the customer experience is incorporating technology such as Sephora’s launch of the “Visual Artist”. “With it, clients can try on any and every product in the store and even have friends vote on which shades look best on them from wherever they are”. The customer can then see what looks good on their own face and see relevant suggestions based on the looks that they’ve created. What’s more, Sephora can obtain the customer’s email to further update them on launches or products that the customer might like. This creates a tailored experience for the customer that drives loyalty.
(Image source: http://thepaymentgateway.co/news/sephora-makes-virtual-artist-augmented-reality-app/)
With Forrester citing over 70 percent of retailers personalizing the store experience,” it’s evident that customers respond.
Retail Stores As Experiences
Lastly, one of the biggest trends in retail is the ability to make your store more than “just a store”. Today, it’s about creating memorable experiences that stick with the customer well after they’ve left your establishment.
It’s about being unique and disseminating your brand’s voice and values in a way that resonates with the customer – which in today’s day and age highly relates to social media. Customers want to enjoy experiences that they can share online with their friends, and having a detail-oriented aesthetic can help.
Designing an aesthetically pleasing interior can help engage customers to visit your brand and can increase your visibility online. A great example of engaging with interiors is again, retail powerhouse, Nordstrom. Whether it’s their dressing room, menswear section, or kids shoe area, their store is decorated in a trendy manner that reflects their customers aesthetic. Recently, they partnered with Nike and delivered an aesthetic that had their customers and the internet sharing and liking images.
(Image source: https://thesnapbar.com/blog/nike-x-nordstrom-nike-air-30th-anniversary)
Another great way to step up your retail experience is by incorporating technology in a fun and innovative ways. Ralph Lauren most recently incorporated interactive mirrors into some of their dressing rooms making it easier for customers to find sizes, envision their outfit, and ask for assistance.
(Image source: https://www.youtube.com/watch?v=_tuj04ErYKQ)
With the retail landscape fluctuating consistently, it’s important to stay on top of trends and find the most effective methods for engaging your customers. Whether it’s implementing personalized standards for team members or changing the look of your space, implementing some of these noted trends can help you build loyalty and maximize revenue.
