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Top Retail Trends of 2014

Top Retail Trends of 2014

A recent story in msn.money reports that a better job market and increases in the U.S. economy will have a positive effect on consumer spending in 2014. The story goes on to state that while consumers are returning to stores, shopping habits are changing. A larger presence by online retailers like Amazon will still dominate the retail space, so brick and mortar stores will need to come up with new strategies to remain competitive.

Technology

There is a growing trend toward technology in both the online and retail sales environment, and companies are finding new paths into its customers’ phones, email inboxes and tablets. Customers will be expecting more if they venture out from behind their devices and actually enter a store or shop. They may still rely on their phones or tablets to get information on products or services retailers have to offer but a customer centric focus is what they’re after once they come through the door.  Once they do come through the door, Revel Systems has several solutions designed to enhance their experience.

Customer Service

Customer service will continue to be a focal point in 2014 according to an article on The Guardian website. Since customers are now able to compare prices across multiple channels with their devices, retail stores (or brands if you will) must be able to create loyal and more importantly, return customers. The age old method of discounting can get customers into stores in the short term but the danger is long-term brand erosion and margin reductions over time. The way to keep customers coming back is with value-added incentives and superior customer service – but you’ve got to get their attention first.

Social Media

Reaching new and existing customers has fallen squarely into the social media arena and retailers who spot the trends stand to gain exponentially. Sites like Pinterest are great at tracking which products customers are pinning, according to a report on Business Insider. Since customers create their own collections of items they already like, retailers can gain real-time access to insightful data on what’s trending.

The above-mentioned story also points out the need to understand how modern customers interact with retailers. Customers now have access to multiple channels and are finding many new, non-traditional methods of interacting with shops and stores.  Consumers may browse a mobile device on their way to work in the morning or do a bit of shopping from a laptop at lunchtime. They might also “like” a product on a Social Media site (or check to see who else did) on their way home. Connecting those dots will be key to any retailer’s success in 2014.

Retail iPad POS

Revel Systems can bridge the gap for retailers ready to make the transition into a technology based in-store customer experience. Revel’s Retail POS provides a streamlined customer experience by allowing employees to check stock, find products, check prices and redeem gift cards and loyalty program rewards points – all from a stylish iPad table mounted discreetly on counters or checkout stands. Revel also has mPOS solutions for mobile devices to meet all the tech needs of today’s retail environment.

For more on the upcoming retail trends of 2014, be sure to catch Revel at the NRF Show in New York, January 13-15. Click here for more info.