Four of the hottest retail trends

Four of the hottest retail trends

This is the year when successful businesses are those that are willing to do things a little differently. As retail markets become increasingly competitive, brands that are willing to embrace omnichannel marketing and cutting-edge technology and work hard on their in-store experiences will be the ones who not only survive but also prosper in the future.

Opening up payment options

According to figures from the British Retail Consortium, contactless cards now account for around a third of all card purchases. This is a big increase from the one in ten transactions that were contactless in October 2015.

However, that is just part of the story. An exciting Internet of Things (IoT) era has been heralded by new payment technologies. There are multiple mobile payment apps and voice interface devices. On the horizon are biometric payment methods utilising iris scanning or fingerprint verification. It may soon be possible to use your face to make a secure payment.

An omnichannel approach

The lines between online and offline sales are becoming increasingly ill-defined. Therefore, an omnichannel approach is essential. Investment in digital channels needs to be matched by in-store experiences.

Physical stores

Many purchases are made online, but bricks-and-mortar stores still play an important role. Innovative stores offer exciting layouts, formatted store designs and a lifestyle experience for consumers. This physical experience encourages brand engagement and loyalty.

Creating the ideal in-store experience

Successful brands are investing in optimising the customer experience. “Retailtainment” is the new buzzword, and discerning customers expect a lot more from their in-store experience than simply making a purchase.

Pop-up cafes, celebrity guest appearances, yoga and music are set to become the norm. In particular, in store music plays an essential role in creating an emotional connection with customers and an ambience that they can identify with. A positive in-store experience encourages consumers to connect with the brand and triggers loyalty. Retailers can take advantage of in-store music services provided by experts such as tailored to specific target audiences or customised for an individual business.

With a few key changes, retailers can not only meet but exceed their customers’ expectations. With a combination of seamless payment channels and attractive in-store experiences designed for their target market, they can continue to thrive and build a strong and loyal base of clients.