Top Five Trends Retail Businesses should be watching for in 2020
The retail trends keep on changing because the brands are trying hard to attract more customers. The future of retail businesses is unfolding because the trends are changing due to new technologies. The retail business market is advanced, and there are some significant trends in 2020 that are being adopted by the brands. The brands keep changing the design and styles of the retail boxes because the customers don’t like to buy products packaged in repetitive and dull packaging.
The brands and businesses want to personalize their packaging and make it more impressive and attractive. The packaging in 2020 will be more user friendly, and the brands will be focusing on product packaging that is more customers centric. New technologies are being adopted to enhance the customer experience. In 2020 the customers would like to pay for fast deliveries.
The in-store shopping experience will also become more convenient for customers. A survey has revealed that customers prefer to buy products from brands that enhance the customer experience. Let’s Have a look at the five trends that the retail businesses can watch out for in 2020.
Augmented Reality (AR) will transform and enhance the shopping experience of the customers. Adding digital elements can help to make the shopping experience more comfortable. The live view of products will make the customers aware of the quality of the products. The customers will make a confident buy after a live view of the products. The buyers can test the products and also see and feel them before they buy them. The brands will allow customers to view and see the effects on their smartphones.
They don’t have to visit the shop in person and can test and see the products on their smartphone. Shoppers will be able to test the product virtually, and the 3D models and augmented reality applications make the virtual shopping more straightforward than before. It will also help understand the product and its uses before investing money to buy it. This will help the retailers to avoid the returns due to the dissatisfaction of the customers. Smart mirror technology will also be adapted, which can help to engage more customers. The virtual image of the product is displayed in the smart mirror, and the shoppers’ experience becomes even better.
There is no doubt that the popularity of online shopping is increasing each day. The retail industry is transforming digitally and that too in the most innovative ways. Nowadays, life has become fast, and people want the product to be delivered quickly. There is a furious and intense competition among retailers, and they are making use of the fastest delivery services for the convenience of customers. The big sharks in the industry like Amazon, Kohl, and Walmart have revolved, and the delivery services are top-notch. They deliver products within one or two working days, and good quality retail packaging is used to keep the product safe.
Social Shopping.(Retail Business)
Nowadays, social media has gained a lot of importance among people, and they think about purchasing products from social media platforms. It is also helping the retailers to achieve traffic to an e-commerce website. Innovative technologies like visual research based on Artificial intelligence will be reaching out to every consumer and retail. Using custom retail boxes can enhance the appeal of the business even more, and it will give good promotion to the products. Most of the customers read comments and reviews on the product and purchase it.
Experiential Stores.(Retail Business)
Nowadays, people can purchase the products by clicking just one button digitally. The only thing that the customers miss in online shopping is a unique experience. Customers like to cherish good experiences over worldly things, and the retail store, which can successfully do it, will get good sales. Experiential stores can offer different types of occasions like sampling, tailoring, and virtually experiencing products. The real experience can lead to more loyal expertise and create a more significant buzz around the brand.
Rise of Private labels.
In today’s retail market, retailers have started investing On retail businesses in private labels much more than before. When they manufacture the products using their label, it will help the brand stay more relevant. The retailers want to give quality experience and affordability to the consumers and get high sales for the brand. Now that the retailers know the importance of doing things according to the likes of the targeted customers, they want to take full control over everything. The production, pricing, branding, and profitability have to remain aligned together. When their private labels produce the products, they can sell the products at low rates and keep them happy.