The retail market is regularly changing dependent on customer demands with some customers expecting retailers to not only fulfill demands but also to be able to predict customer needs.
Here are a list of retail trends that have been observed so far in 2016.
UK retailers are now understanding that customers want the items they have purchased as soon as possible. Sainsbury's are trialling a new delivery option in Central London for cyclists to deliver groceries within an hour of ordering the items. Argos now offer same day delivery and Amazon are currently testing delivery drones in the UK. These retailers recognise that if a customer can get the same item elsewhere quicker than that is where they will probably purchase it from.
Building a customer's buying experience around their specific tastes can make the shopping experience more personal and enjoyable. If a customer can find the items they are looking for quickly and easily rather than having to go through lots of other items that is of no interest to them – they will return to the place offering them what they need, whether that is online or in-store.
A large influence now on how and where customers buy is social media for a variety of reasons. Some customers utilise social media for reviews or to give reviews of specific products, services or companies. Others like to stay on top of fashion trends, look for promotional offers and some customers purchase products directly from social media channels.
There is a growing number of e-stores that do not have brick and mortar stores but only trade online. Customers like the convenience of shopping online without having to traipse around the shops and being able to make a purchase in minutes with no queues to wait in. Those retailers with brick and mortar stores are also ensuring they have a full presence online so the customer has the option to order and pick up in store or have their items delivered to their door.
Retail trends will continue to change based on customer needs and those retailers that do not keep up with these trends could lose customers as a result.