Top Trends To Watch In Retail

By Debbie Hauss

Recently, more than 1,200 retail industry executives joined Retail TouchPoints in a weeklong webinar series. The Connected Consumer Series featured retailers, industry consultants and other experts who brought top industry strategies and trends to center stage.

During nine sessions, retail experts shared their experiences and insights around many key topics, such as:

• Where to focus mobility efforts;
• How to turn social posts into profits;
• Ways to boost revenue with analytics; and
• Using geo-location and geo-targeting to understand consumers’ path to purchase.

It’s clear that consumers are driving retailers’ strategies today, with their mobile devices leading the way.

During a Q&A with Greg Hickman, Mobile Marketing Manager at Cabela’s, he noted that “Consumers are driving how they want to interact with us and with what devices. We use location within our app, but for us it’s a layer of the whole puzzle. We strive to take everything we know about our customers and provide them with the best possible experience.”

This strategy should ring true with all retailers, whether they are selling outdoor gear, jewelry, furniture, electronics or groceries.

Pam Goodfellow from Prosper Insights, drove this message home: “As consumers become increasingly connected, retailers focused on a seamless omnichannel strategy will be best positioned to speak to and perhaps capture today’s flitting consumers.”

But the question for many retailers remains: How do we go about implementing a keen focus on the customer?

Of course, strategies must vary, based on the demographics of the target customers and the overall brand promise. But the first steps must include a clear focus on data. Collecting and analyzing data is the first step. Converting the data into actionable strategies is the formula for success.

These topics, and many others, hit home for the 1,200 Connected Consumer Series registrants, and they hit home for me as well. I know the next few years in retail are going to be challenging. Technology is changing on almost a daily basis. The economy is experiencing regular ups and downs. But it is a thrill ride that I’m sure most of us don’t want to miss.

Follow Debbie on Twitter: @DHauss