Retail

The sector is changing rapidly with the development of e-commerce and multi-channel retailing, and has the potential to perform better.

Retailers are also struggling to build customers’ loyalty and repeat buying behaviour.

Retail Trends and Predictions

• Personalization that enables shoppers to build products and customize them to the very last detail. 75% of consumers are more likely to buy from retailers who personalize their customer journey.
• Social Media Strategies Boosting Sales for Retailers. Consumers are constantly talking about brands on social platforms, recommending products, asking where to buy something, or posting a complaint. Futhermore, 80% of consumers say that their purchases are at least somewhat influenced by user generated content. Retailers will need to up their social media game and use social networks and apps to tell stories and engage with fans in real time.
• Big data will drive retail decisions – Retail data analytics can help companies stay ahead of shopper trends by applying customer analytics in retail to uncover, interpreand act on meaningful data insights, including in-store and online shopper patterns. Customer analytics in retail can help you improve customer experience and loyalty by knowing precisely which buyers are buying which products – and personalizing your marketing based on shopper data.

 


• Augmented reality (AR) becomes the ubiquitous feature of daily life. Pokémon GO have opened up millions of users to the possibilities of AR. In the coming years, consumers are likely to start seeing more augmented experiences when they go shopping. Augmented reality (AR) is making serious headway in areas where shoppers like to try out products before committing to them. The ability to interact with the digital world removes any limitations and allows shoppers to get a more tangible perception of the object that they are interacting with. Another key component of Augmented reality AR is imposing the digital representation of objects onto the physical world. When digital objects are combined with the physical world then our ability to perceive will not only be enhanced, but will also be influenced by this augmented reality.

• 3 Ps – People, Planet and Profit. Sustainability in retail is of growing importance to consumers. 93% of global consumers expect more of the brands they use to support in social and environmental issues. Consumers are inclined to look more favourably on products and companies with solid CSR credentials that better aligns with their values.
• Inspiring Brick-and-mortar retail evolution. Customer experience matters. Brick-and-mortar retail is far from dead, but retailers have to take risks and become adventurous to give consumers good reasons not to do all their shopping online. The brick-and-mortar retail store will take on new importance. Traditional store formats probably will be on the decline, but innovative stores — ones that offer great shopping experiences — will continue to arise.

Our Services:

• Retail Consulting
• Analysis of your current service offering
• Opportunities to increase sales
• Customer Experience and Engagement
• Customer-led category management
• Technology Modernization
• Defining winning brand strategies
• Earning loyalty with great customer experiences
• Retail Sales Management
• Retail Operations Management
• Retail Store Management
• Retail Sales Training Programs
• Store Management Training Programs
• Payroll Management And Budgeting
• Visual Imaging and Merchandising
• Recruiting, Selecting, And Hiring Great Team Members
• Vendor and Partner solutions
• Measurements & Surveys
• Workforce training

Maxwell International helps you maximize profitability, enhance the customer experience, control inventory and other costs, create compelling functional spaces and generally we put your retail’s best foot forward.

Ready to get started? Contact us today!