Recognizing Trends to Boost Sales
The struggle to keep on top during uncertain economic times is a challenge for most retail business owners. Although there’s no “magic wand” for dealing with a slowly-recovering economy, knowing about several current trends may help retailers pattern their operations to weather the storm.
In an article for Inc.com titled 7 Retail Trends That Can Boost Your Business, news contributor KC Ifeanyl provides insight into some of the trends that could give your company an edge in the recovery process. The first four are shown below.
- With increased usage of mobile devices like smartphones and tablets for transactions, E-commerce is expected to grow exponentially. This will be reflected in the way products are offered and purchased
- A mere 3-4% increase in retail sales for 2012, despite strong consumer spending during the holiday season, is still lower than the 4.6% in 2011. The most revenue-generating sales are expected from accessories, electronics, and small personal luxuries.
- .The bargain-hunting consumer using a smartphone to look for better deals elsewhere while shopping at a store will be a challenge for retailers. Businesses will need to find new ways to get the attention of these shoppers and cement loyalty.
- .More consumers will be determining a retailer’s value on the basis of experience versus price, seeking unique products, intuitive customer service, and more flexible shopping options with multi-channel integration.
What a perfect time to have CounterPoint’s CPMobile and CustomerConnect to help you boost sales during this economic recovery period and beyond. Call us today with your questions or email us, and be sure to check out the next blog for three more retail trends.