Things will never be the same again, but it does not mean it won’t get better from here. The year 2020 was marked with red flags. Diving into the learnings and taking a closer look at the shifted fabric of the retail industry has brought us to these 3 retail industry trends that can help your business to thrive in the industry.
1. Goodness that sustains
The one that we all share and care about – earth and its wellness. Consumers are searching for the green flags on the product. Product sources from organic material, not tested on fellow earth mates, contributing towards a sustainable tomorrow – are trending in 2021.
If you’re a business, and not touching on the goodness points then you surely have a lot to catch up with. But the good news is that It’s not too late to care as there is more to do than what meets the eye when it comes to saving the planet and contributing to a better tomorrow.
2. Rising Immediacy
The impatient consumer is the by-product of the rise of technology. The dynamic behaviour of consumers is challenging retailers to be on the toes to respond within 10 minutes, update products in real-time, offer various options to collect the product and to get it delivered. Customers are pacing up in search of goods and services, and the brand that provides excellent customer service. In the retail industry, business owners that wish to survive in the industry and upscale their business must commence to transform the way they engage with customers and ensure they provide to the rising trend of immediacy.
2021 undoubtedly is not the year for ‘one for all and all for one. Before a decade, nobody would have predicted that accepting a diverse range of payments through a diverse range of devices will be one of the most crucial parts of doing business and enhancing customer service.
Many successful businesses have transformed themselves according to the first cashless then cardless, and presently to the wallet-less society that we represent today. Currently, seamless mobile payments are immediately following the top trend of payments via bank cards. Experts predict that the technology speeding up the fintech developments and increasing popularity of mobile eWallets will transform the landscape of the payment industry.
By providing multiple and flexible payment methods such as eWallets, mobile payments, retailers strongly stand a chance to thrive in the industry.
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