NaviPartner’s CEO, Mark Stewart Pedersen, highlights those retail trends that can turn out to shape the retail industry in the following years. We have asked Mark what he regards as the four most important emerging trends.
The big trend we see today and something that will be crucial the following years is mobility. We will experience an increased investment in mobile POS solutions (mPOS). With mPOS, in-store personnel are more active equipped in-store with mobile devices instead of being stuck behind the counter.
This provides the customer with a more personal experience and better customer service since sales staff can look up product information and quickly tell customers which products are in stock without leaving the customer in the process. Payment is possible everywhere inside the store giving a quicker and more efficient checkout process.
We are running a test in Copenhagen in March to examine how prepared Danish consumers are for mPOS solutions and increased mobility.
Changes in consumer buying behavior
E-commerce is a matter of course for consumers today. Consumers expect it is possible to order and purchase online on all kinds of devices as well as the option to choose click & collect.
Consumers also expect to have the option to use gift certificates online and in-store, and that gift certificates can be used for more than one purchase.
The way consumers buy and the methods of payment is constantly changing. We see new payment methods and sales channels that appear in-between e-commerce and in-store retailing. New services are appearing, where a consumer can window shop with a quick scan and where a buying decision is made with one quick swipe on the phone.
The focus on monitoring social media channels is also going to be interesting.
Today, various tools exist, where companies can use to monitor comments and discussions about their brands or services. The information can be used to answer bad reviews in a constructive way and give the customer the impression that their opinion matters and that they are taken seriously. Sites like Facebook, Trustpilot and Yelp.
Microsoft is aware of the importance of monitoring the social news feeds and in the springtime this year a new monitoring tool is set to launch for Dynamics NAV 2016.
Tools to counter the increasing competition internationally
Retailers are well aware of the increasing competition from the large international web store. It is, therefore, important to keep prices in check and deliver a personal service in-store in order to win customers. Tools that can facilitate better personal service for customers are gaining a foothold. Activities such as loyalty clubs, customer events and personalized campaigns. We also see the personalized campaigns a lot in the revival of e-mail marketing where tailor-made offers are sent out based on the individual customer’s buying patterns. The integration between Campaign Monitor and Magento can deliver this kind of e-mail campaign.
If you have a Magento web store, the landing page is determined by what the user have purchased and seen on the web store, and how many times the customer has visited the web store. The add-on function, automatically related products can do just that.