The retail industry has greatly transformed in a period of just ten years. Moreover, the sector continues to evolve due to innovations in technology and business as well as the ever-changing consumer habits. In order small retailers to have the chance to survive and grow on today’s company-flooded market, they need to learn to use two very important things – creativity and flexibility. However, all that will be pointless if small business retailers are not familiar with the latest trends in the retail sector. In this article we will introduce you to some of the most significant of them which must not overlooked by small business retailers.
Mobile Payments
The number of people who own at least one mobile device continue their growth with an impressive speed. It won’t be long before the majority of consumers start using mobile devices. When that happens, mobile payments will no longer be regarded as a new-generation service, but as a necessity. Your business will need to prepare for that trend and adapt to it before it fully kicks in. For example, you can start by purchasing low-cost tools that enable card payments from tablet computers, smartphones and laptops.
Socializing
No, we are not talking about a business page on some social website, since we assume that most retailers already have one. What we actually mean by “socializing” is adding more social experiences to shopping. This can vary from installing simple social buttons (share, like, favourite) on product posts on websites to in-store mirrors that can take photos of clients while they try out new outfits and share them with their friends. The more social features you offer to your customers, the more advanced your small business will be.
Pop-Up Retail
Pop-up stores are actually short-term sales spaces. They are more popular in countries like the UK, Australia, Canada and the US. However, lately they are finding their place in many other regions. These types of stores are very flexible and they allow small businesses to showcase and sell their products in new areas. In addition, these sales will give you the opportunity to meet with your clients and learn more about their opinions and preferences.
Smartphone-Friendly Retail
As we already pointed out, a big part of your customers use tablets and smartphones. In other words, they can access your website anytime they want. That is why you need to make your business mobile-friendly. You can do that by creating a mobile version of your site or developing a mobile app.
Uniting All Channels
Growing your business in all possible directions is great, but you should not stop here. Do your best to connect each and every of these experiences – mobile, social, in-store and etc. For instance, you can enable payment through social websites or electronic magazines with integrated online shopping. The options are almost countless!
Follow these basic trends and you will increase the chance of having your small retail business develop and grow.
