If you run a retail business, you know that shopping likes and dislikes are constantly evolving. If you don’t watch them seriously, you risk getting left behind your competition. Because of this, it’s important to consider the year’s trends. Below are some of the top 2022 ones to watch.
6 Retail Industry Trends to Watch in 2022
One of the biggest 2022 retail trends to keep a close eye on is eco-conscious shopping.
A growing number of people are becoming more aware of their shopping habits and would prefer to purchase sustainable objects and those that use low-carbon shipping.
Besides this, quite a few are also concerned about company ethics and how a business is sourcing items to sell or use in their products.
To inform concerned customers, add more information about where the products are from and if they’re fair trade. This will make clients feel like they’re being better informed about their shopping habits and can encourage them to make a purchase.
Cashierless checkouts aren’t new, but they are becoming somewhat in high demand. While these allow customers to skip long lines, they’re also contactless – something which many might prefer for health concerns.
While you can keep traditional check-out centers, it might be worth purchasing a few self-checkout devices to cater to this trend that’s not likely to end anytime soon.
Keeping customers entertained is something many businesses strive to do. Today, technology allows you to use creative outreach which is why live streaming is becoming trendy.
With this high-tech possibility, you can interact with customers while selling products simultaneously. For instance, if you go live on Instagram, you can have your representative chat and message viewers who might have questions. While doing so, you can keep a link in the live stream to where they can instantly buy the featured item.
Not only does this help give your brand visibility, but it makes it easier for customers to find and purchase items. You can also track various analytics to help you learn how to reach more clients while keeping your base. If you’d really like to reach a certain demographic, see if you can hire an influencer who caters to it. They can advertise your product to their followers who might otherwise not know about it.
Keep in mind that while you can do live commerce with any product, it sometimes works better for certain industries than others, like fashion and apparel or beauty products.
Move to Online Platforms
Brick-and-mortar stores still have appeal, but you’re more likely to reach a broader audience if you move online – a trend many are quickly following. It’s thought that over 50% of retail sales today come from Internet purchases.
If you want to stand out from the online crowd, it’s important to carefully research things. This includes finding the best website platform and e-commerce tools to help shoppers navigate your online business better.
Remember though that it’s not as easy as just making a website and listing items on it. You need to confirm that the site’s host can handle the item quantity you plan to include. You’ll also want to check out its security and Cloud capabilities.
It’s also good to ensure that the site can load easily on phones, not just computers. It’s thought that 79% of smartphone users have or will make a purchase on it. If your online platform doesn’t load correctly or sync well, you risk losing a sale.
This option might make some retailers shudder, but it’s one to take notice of. By offering this, you can compete more with mega-corporations. It can also boost your base because customers know they can get certain items delivered within a few hours.
If you’re not comfortable with this, trends also point to customers enjoying the option to pick up their online order in stores. Once they submit their request, you can prepare their purchase and have it ready for them in a designated store spot.
As with trying to be more earth-friendly, many shoppers are also concerned about their privacy. While countless brands rely on some methods to track consumer spending for ads, quite a few dislike this.
Many are also concerned that their financial data isn’t properly stored making their accounts a high hacking risk.
It’s crucial to use strong privacy software to guard this sensitive information. To better protect yourself from lawsuits should a breach happen, it might be ideal to invest in retail insurance which can cover these liabilities. Insurance can also safeguard you from other retail industry concerns, like employee/customer injuries and property damage.
As 2022 rolls on, it’s important to watch these trends. You’ll find that by doing so, you can build a strong business that brings in a steady customer base.