Retail Trends – What Is Going On In The Retail Industry?

Business insiders are talking and they’€™re talking about five global retail trends that are going to shape 2014. If you are keen on starting a retail business soon, don’t be the last person to know. Your future decisions should be influenced by the five observations outlined below.

1 -€“ Entertaining and Educating Customers

Vending machines are a thing of the past as shoppers have condemned them to be boring. You will have to engage your customers with multimedia content aimed at enriching shopping experience. Make sure that your site will have a lot of informative and entertaining content. With this lacking in your site, don’€™t expect your customers to stay a minute longer when they browse or try to go around your web site.

2 -€“ Tweets and Pins

It is widely recognized that retailers will be more and more dependent on the insights that they can get from following what people are saying through social media sites like Pinterest and Tweeter. People will continue to talk about their experiences with products that are the current trend and will help others in making purchasing decisions. What these people will be saying will, needless to say, guide your selling decisions, too. You will be caught in a trap where most of your personal understanding and inclinations will have to be put aside. At best, you must become a social-media savvy kind of a guy.

3 – Customer Profiling Needed

Retail trends and predictions in 2014 observers suggest that retailers should buckle up and put in a little more effort by keeping track of customer movements. For this purpose, you may have to unify your tablet, desktop and mobile experiences. Shoppers are using the same gadgets to engage the brands they are interested in, using mobile phones in the morning, purchasing through their desktop during lunchtime and writing product feedback before the sun sets. One of your top priorities is to connect all the dots in between these communication features so you can have a better profile of customer movements.

4 – Pinging In Customer Phones

Apple launched iBeacon last year. When brick-and-mortar stores made use of this new system to track customers who are coming in and buying, retailers say that the data are more precise and the system is low-cost. Furthermore, the system allows real-time tracking and a personalized approach to understanding customer behavior.

Expect the same preposition to be taken more seriously and you should not be left behind in getting data this way. Customers would like services and products that are personalized in accordance to their tastes and preference. Here are some retail trends predicted by experts for 2014.

5 – Highly Personalized Products and Service

Retail trends are pointing to the fact that people like customizable products and services. They want something that is unique and something that reflects their personality. You will have to accommodate customers’€™ preferences by allowing them to choose pocket color or bag zip in advance. If you will be selling gadgets, for example, make sure that you will also offer engraving on these gadgets. Here are some more Retail trends predictions in 2014.

Get insights from customer profiles while you create a small niche for your business. Create your own niche and think hard about satisfying those people who belong to that niche.