What's on the consumer's mind? We have identified 4 consumer behavior trends for Summer 2020 affecting consumer spending and priorities.
COVID-19 will undoubtedly change the retail landscape forever. But, the transformations brought about have been building for years (they are just accelerating). Here are 5 key ways COVID-9 will impact retail.
So what shapes customer buying decisions? And more importantly, how can merchants better understand a customer's path to purchase so they can boost store sales?
Put yourself into the shoes of your customer for a minute. You’re walking past a store selling books in the mall. Suddenly your phone pings you with a notification for a personal discount for the book you’ve been looking at on the shop’s website. Along with the discount, they even send you a map showing … Continue reading 5 IoT Trends Retailers are Capitalizing On
Engaged customer represents 23% more revenue than average. Companies who improve customer engagement evidence upsell revenue increase from 13% to 51% and an increase in order size from 5% to 85%. Simply put, engaged customers buy more and spend more.
The Internet of Things (IoT) is a term that’s been around for a while. And though conversation around the buzzword fluctuates, it’s is already ingrained in most major retailers’ day-to-day operations. IoT is literally every device, tool, machine, and human that transfers data over an internet connection. IoT technology in retail is expected to reach … Continue reading How IoT is Transforming Retail and Food Service in 2020
Indian’s retail economy is among the fastest growing in the world. Urbanization, a young and technology embracing population, and improving infrastructure all indicate that India is poised for growth and global influence.
Emerging technologies, a booming population, and rapidly developing economies are changing the retail landscape of Africa. Below, interesting facts and trends shaping the future of African retail. Durban, SA Demographics and UrbaniZation Africa has the fastest rate of urbanization in the world. More than 40% of its population is currently living in urban centers. By 2030, … Continue reading Retail in Africa: Interesting Facts and Emerging Trends
87% of Americans state they would purchase products from businesses that advocate for sustainability. Here's how to implement sustainability in store.
Let’s just cut to the chase — if you’re a retailer, your goal is to get new customers and keep the customers you have coming back, all in the name of increased sales. Without sales, you don’t have a business. Thus, strategizing about how to maximize retail sales should be a top priority. According to … Continue reading 10 Ways To Maximize Sales In Retail
“The reports of my death are greatly exaggerated.” That quote which was said to be from Mark Twain, could also apply to the current state of retail. From headlines the past couple of years you might assume that sales in brick-and-mortar stores are in negative territory and on the brink of extinction (a full retail … Continue reading The Retail Apocalypse that Wasn’t: Brick-and-Mortar is Thriving
Today, some of the best shopping inspirations come from an unexpected source: the heart and soul of your customers. And few places spark that inspiration better than community. If you want to show your retail audience that you understand them, that you care about their values—if you want them to spend their money and time … Continue reading How Retailers Boost the Customer Experience Through Building Community
The business of retail is complex, yet for customers, it should be just the opposite. Because of this, enhancing consumer experiences must be considered from every angle in which customers engage. This includes in physical stores, via traditional e-commerce websites, during online marketplace browsing, throughout social media experiences and even as customers navigate any other … Continue reading 5 Ways Chatbots Can Enhance Customer Experience and Increase Sales in Retail
As a retailer, you know that your point-of-sale (POS) system is more than just a tool to process transactions but rather an asset to help your business improve both profit and operations by leaps and bounds. With so many POS options available, it’s easier than ever before for merchants to have access to even more … Continue reading 5 POS Strategies That Increase Sales
Retail is abuzz with the momentum of companies jumping to create a niche for themselves in the emerging market of cannabis and retail.
In order to grow as a business, you have to learn from the best in the business. And when it comes to retail, it doesn’t get much better than Apple. When Apple released their financial results for its fiscal 2018 fourth quarter, it was revealed to be a quarterly revenue of $62.9 billion, an increase … Continue reading 7 Things Retailers Can Learn From Apple
Seasonal programs like Valentine's day drive big profits for retailers and restaurants.Valentine’s Day spending is expected to top 20 billion this year! The average spend is also up from $143.56 to $161.96 (a 13% increase from last year). And while most Americans still spend the majority of their Valentine's Day budget on a significant other, the National Retail … Continue reading Valentine’s Day In Retail: Interesting Facts and Emerging Trends
Does retail lighting boost sales? Gerry Weber, a fashion retailer in Germany saw its sales increase by 12% in one pilot store, after installing a new lighting scheme. If you are still using fluorescent tubes, it is definitely time for an upgrade to LED. Fluorescent lighting casts a harsh light that cannot be controlled or dimmed … Continue reading 5 Lighting Techniques for Visual Merchandising to Increase Sales
All humans share similar psychological and emotional triggers — gravitating toward pleasure versus pain, amusement versus boredom, and satisfaction versus discontent. The average consumer naturally weighs costs and benefits when shopping. Retailers can utilize a range of psychological techniques to influence shoppers’ behavior and ultimately increase conversions and total sales during the holiday season and … Continue reading 10 Ways To Use Consumer Psychology To Increase Sales In Retail
More than 1 billion shoppers find the products and services they need and want online today. It has become increasingly difficult to get customers into a physical store and even harder to keep them engaged long enough to make a purchase. The good news is, with the right techniques, you can improve the overall in-store … Continue reading How to Create a Memorable In-Store Experience for Your Customers