Technological change over the decade has been drastic. The effects of technology development have positively and majorly affected data analysis, sharing of information and e-commerce. The use of internet and technology is growing everyday and these future trends are expected to continue affecting all aspects of business as discussed below.
E-commerce has evolved to the extent that a business cannot effectively face competitors without an online existence. Transactions are now simple and less involving. Customers place orders and pay for the product by simply submitting the credit card details on the company website. The websites will have to be coded in a way that it is easily accessible on mobile if not computers. This was not possible a few decades ago. Increasing sales will need any company that wants to grow its brand to have a serious online existence.
Marketing has changed from just in-store activations to social media and other online channels. Use of mobile and PC now play a bigger role in showcasing products. Most people now own smart phones (current stats, 2020 prediction); showcasing products will need retailers to target the larger group as a vital move to stay ahead of competition. This is expected to double up and actualize increasing sales and not just advertising. All brands want to maintain customers and improve convenience and customer’s experience. Critics argue that selling online denies customers the real feel of shopping like the smell of fresh fruits and vegetables.
Retailers are needed to invest in faster, simplified systems that excellently deliver services to customers – examples here. At the end of the decade, shoppers will need to buy things just by a simple click. Retailers will need to concentrate on the majorities that are usually stuck on their computers and mobile phones. Merchants may need to offer doorstep delivery as an after sales service, maybe at a small charge or for free. Customers have more and more expectations every other day. To retain customers retailers will need to create memorable and personalized experience for every new buyer. This can be done through gifting and creating customized packages. Find specialized contractor such as BIBD – General Contracting Company to help you get the design and build done.
The convenience of shopping is going to deeply affect how much sales are made. Tech addicts are quick to adapt the online shopping trend unlike the old-fashioned shoppers who are used to brick stores. In the near future the youth are going to be the majority in the market and influence buying decisions. More and more people are getting two jobs and do not have time to stand in long queues after shopping. Customer needs keep changing everyday and it is important to watch the new needs that keep cropping up.
Availability of information is powerful. Customer’s social groups provide reviews for new customers. Before anyone buys a product, they will want to be sure to get the value they need. A product with most positive reviews is likely to be sold more. Complains by customers have to be taken seriously since this goes a long way in retaining past clients. Information on what the customer needs also gives retailers the insight they need in order to vend the exact required product. There are companies that have come up offering research and data analysis services. Data will reveal the precise needs of the ever demanding customers. This can take the retailers a step further in satisfying their customers.