Saturday, May 25, 2019

Retail market covers the major part of the global market. People love to buy things from the retail store for the best benefits. The store comprises of anything to everything. The retail stores can see a lot of variations and you can never predict the future of these stores 10 years from now.

In the 21st century, you can observe a remarkable shift in the trends. The ever-shifting behaviour of the retail can be seen for a long while now and will be seen to continue in the future. The change of preferences cannot be talked about, you cannot predict what your customer would want. Keeping up with the ongoing trends is a definite necessity which each of the competitor needs to look after for the best of their scores.

Let us take a closer look at how the 2019 would be-

  1. Personalization- Big data has come into picture a lot these days. And with the increasing rise in the big data, the retailers will get a good idea of the customer experience. Personalization is taken as a very favourable point for the customers these days. Anything and everything that is personalized related to specific people, definitely attracts them closer to the entity. But there are those as well, who stay far off from all this. Anyhow, the personalization will certainly find its way to the people this year.
  2. Customization- Well, the personalization as well as the customization terms are very well connected to each other. It allows the customers to select things for their own selves according to their wishes. This is an on growing trend and you can easily find retailers allowing their customers to build their own products. Be it anything, building your own clothing, shoes and art is always special. Customization will also be seen to grow in the public market this upcoming year.
  3. Multi-channel commerce- Normally, before going for a single thing, we human have a basic tendency to check on a number of sites or stores, compare and then buy the cheapest available. In such cases having a multi-channel proves to be very beneficial as this gives you a greater choice of being the right choice and getting the order for the customers. The multi-channel commerce is another top ongoing trend that you will observe in the year 2019.
  4. Social currency- As you have quite observed that we people normally tend to rely more on personal recommendations than advertisements. People these days are using social media to connect to their customers using the various coupon codes and sales copies in favour of people’s engagement. The retailers have hence shifted their focus towards social currency than the actual one. This will continue to be the ongoing trend of 2019.
  5. Artificial Intelligence- With the advancement in the field of artificial intelligence, Siri, Alexa and Cortana are a big part in being a part of the customer experience.  You will find a great use of AI in the shopping industry soon. The year 2019 will mark tremendous changes in the year 2019. Amazon has already started its work in this field. The other industries too will start its work as soon as possible.

Read more: GARTNER’S TOP 5 STRATEGIC TECHNOLOGY TRENDS FOR 2019

The retail market is bound to grow in the coming year. There is a lot of competition in each and every industry. The retail industry too faces a lot and thereby people tend to observe a lot of on-going trends every year. The above-mentioned points are the ones that are the predicted on-going trends to be observed in the up-coming year.  Let us sit back and see what is to be observed in the up-coming year.

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