Trend in retail Industry

Trend in retail Industry:-

1. Mobile browsing will turn to buying

Mobile browsing is soon becoming a retailing tool. Digitalised  bills is a new   trend. Customers are sceptical about the use of mobile buying but with time and with advent of technology they will give in to mobile buying.

2. Smaller merchants will embrace mobile channels

 Often the bigger retailing giants are attributed with technological investment. However in 2012, even small merchants will be able to take advantage of   the mobile channel with minimal infrastructure costs.

3. Online shopping will get more personal

As consumers become jaded by a surfeit of online brand communications, those merchants that offer a more personalized service will lead the field for brand loyalty. Brands who can take personal touch with customers to a new level can survive the retailing war.

 4. More people will take their social network shopping

Instead of word of mouth more people will be buying new products not by taking friends along them but by taking their social network with them. Retailers will use this not only for brand awareness but also for product development and customer service too. Rakuten's Shop Together enables marketplace users to invite friends to view products and live chat while looking at the product page.

5. Borderless shopping communities will emerge

The international market will is becoming very conducive for foreign retailers. This will provide ample opportunity to foreign retailers to expand their sales operations in international market. This will further reduce the traditional cost implications of local delivery models and storage facilities, etc.

6. Flexible, local shipping models will be vital for customer loyalty

Cart abandonment in Europe was attributed to shipping reasons in a report by Forrester in January 2011. As a result, market specific, flexible shipping models will be vital for growth. Popularity of the click-and-collect phenomenon is evident in the UK .

7. Retailers will communicate with individual customer profiles:-
The direct feedback from customers through various modes will provide direct inputs to customers regarding their tastes and preferences. This communication will be through social networking sites which will provide important information regarding the psyche of the shoppers and hence provide new avenues of creation of wealth for retailers. In short "Information is power" will be redefined by retailers.

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