As technology improves, secrets of success for every industry are reshaping according to the latest innovations, trends, preferences, possibilities… While these changes have weaker influences on some industries, for the retail industry, it is the total opposite. As the world changes, consumer preferences veer radically. People basically do not need to go to stores to shop, anymore. Also, they are more aware of that experiences are more vulnerable than possessions.
However, there is still a chance for brands to comply with this situation if they embrace technological innovations and prepare for the upcoming trends. Here’s to 3 retail trends that will master in 2019:
1. Experiences, not possessions sell
What will you say if you are asked to choose someone to be a friend – someone who studied in the same college with you or someone who has the same car?
Most people will choose the one who studied in the same college since our identities consist of experiences, not possessions. Even we can attach to our new car, this will be a passing bond. When a newer product is released, we throw the old one away to have the new.
So, brands that want to have strong bonds with their customers should sell experiences at their stores, not just products. Joyful, memorable experiences make much more of an emotional impact than buying a product and present a cause to customers to come and shop at the store.
2. Era of robots
One of the best innovations of improving technology, cognitive computing, can evaluate huge amounts of data in the way humans think, reason and remember. Owing to this similarity in the cognition process, humans can interact with the technology naturally.
Brands take advantage of this technology and set up computers and robots that can understand natural language and answer people’s routine questions as a customer service staff in their stores. With these devices, brands provide better and faster customer services, consequently better customer satisfaction.
3. Augmented reality (AR) apps
Augmented reality has been appealed to market products by brands lately. Besides experiences provided by AR technology to create a charming atmosphere in the store, many brands have launched new AR apps.
By these apps, customers can picture how clothes would look in them or a furniture in their home, so it becomes a lot easier for customers to find the product that they are looking for. Thus, it becomes more probable for a customer to buy a product.
As BGA Partners, we know that along with the world, what works for each industry are rapidly changing from day to day. With awareness of this continuous change, we have been working to strengthen your business since our debut. From developing strategies to campaigns, we give point to the latest trends that will bring success in such a world.