We are aware of great analysis about how contemporary consumers, and the whole retail landscape, are revolutionizing rapidly. Economist professional predictions about the recent economic trajectories, and how it will turn out in the future, are a dime a dozen. As a retailer myself, it can sometimes feel like you are navigating a maze. There is so much I could do to attract, retain, and impress customers, but will they all pay off?
Beyond the news, what is clear is that retail continues to transform and reinvent itself, like usual. And consumers want retailers to keep up with the major trends. At the same time, they also want many of the same old things.
A recent survey by a Nigerian retail research firm Economic Associates recently surveyed 500 Nigeria consumers on their expectations of retailers and what matters to them. The outcome of the research proved that a typical consumer needs skilled customer service, personalization, and convenience.
It surely doesn’t mean that tech is useless. The same report found that consumers want to shop in stores with fresh, new ideas; they want to be entertained; they prioritize health and wellness; they want a frictionless retail experience; and they are more conscious of their impact on the environment, which reflects in their shopping habits. To capture consumers’ attention, then, retailers must demonstrate that they have their finger on the pulse, and are diligent about perfecting the experiences they deliver.
Here are five ways you can keep your brand current and on-trend, and appeal to what your customers want:
The modern consumer cares about the social and environmental impact of their purchasing and consumption. Consumer Technographics data reveals that nearly seven in ten Nigerian Millennials, and more than five out of ten consumers in general, consider a corporation’s values and commitment to social and environmental sustainability when making a purchase.
If until this point you have decided to sidestep the sustainability conversation, now is the time to establish your point of view and take action. Values-based consumers are just growing in number, and they will reward brands that enable them to consume more environmentally and sustainably. Here are some ideas to kick-start your sustainability strategy:
- Explore different delivery options:
- Reduce your packaging and use recycled/recyclable materials:
- Stock items from eco-brands and products made from sustainable materials:
HELP CUSTOMERS FEEL GOOD
Modern consumers highly value wellness, a term used to describe mental, physical, and emotional health, and they want this to be reflected in their buying experiences too. A recent survey found that 50% of shoppers want to see open spaces with greenery in shopping centers, and over a third want to shop at stores with healthy food varieties.
Although familiar opinions are still important when it comes to product recommendations, consumer communities are becoming more influential. Consumers are increasingly inclined to go with a wider community of like-minded people, where they can tap into a brand’s customer knowledge base and converse and engage within the circles of a network. As a result, retailers and brands have been building their social communities – both physical, through in-store events, and online by joining various groups online.
GET INVOLVED IN THE SHARED PRODUCTS AND SERVICES TREND
Part of the increased interest in sustainability is a growing demand for shared products and services. A recent survey found that over half of consumers are willing to rent trendy, well-made products, and more than 80% are willing to partake in the sharing economy – a concept popularized by a rental home service provider; Hotel.ng and ridesharing business Uber and Bolt.
In the retail sector, companies like GGM Fashion, Rent the Runway, Chic by Choice and Girl Meets Dress have risen to prominence with their rent-a-dress models, making it possible for consumers to wear the latest premium clothing items without breaking the bank. But more sectors than just fashion and apparel are ripe for this trend.
Indeed, one-fifth of all shoppers said they are most willing to rent goods from an electronics store. As the concept of renting goods becomes more common, retailers in different industries can capitalize on this by experimenting with their sharing services. From home improvement and DIY tools to baby products, to sports equipment, there are many opportunities in the market – it’s up to businesses to grab them timely.
Ultimately, retailers who can anticipate change and get on board with lasting consumer trends will be the ones who stand the best chance of success. To do this, start by looking at your customer base and focus on what they want. Once you know this, you can introduce exciting new concepts that marry up with their desires, and in the process refine customer service, personalization, and convenience.
We can help you bring your ideas to life with reliable, scalable technology that will grow with your business needs. Get in touch with the Tech team on +2348139319159 or +2348177772980. You can also email the team on [email protected] if you want to see our software solutions in action and how it can help your business
Our fees have been waived including training your entire team. We understand the importance of ICT infrastructure in helping our clients meet their business goals and so we continually evolve and adapt our skills as environments become dynamic to allow us effectively and proactively manage our clients’ information and communications system.
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