3 Retail Trends to Come in 2020
A new year establishes a fresh start, more opportunities, and brand new trends to watch out for in the world of retail and e-commerce. The retail industry is constantly changing, from cutting-edge advanced technology for shoppers to social media playing a major role in a shopper’s journey. Some retailers have even begun communicating with customers through SMS messages, so it is imperative for your business to be aware of the current retail trends in order to stay ahead of your competitors. Keep reading to learn more about some of the retail trends that are likely to thrive in 2020!
1. Artificial Intelligence, Virtual Reality, & Augmented Reality
Incorporating artificial intelligence (AI), virtual reality (VR), and augmented reality (AR) into retail creates an excellent bridge between in-store and online shopping for consumers. This trend began to emerge in 2019 and has only gained popularity over time, which is a good indicator that it will become even more widespread in 2020. Popular brands such as Target and Amazon have launched AR technology that allows the consumer to visualize products in their homes, such as how a piece of furniture would look in their living room. Utilizing AI, VR, and AR in the retail industry benefits retailers and consumers by giving them a captivating and engaging shopping experience, while minimizing operating costs for retailers.
2. Social Media Shopping
Marketplace on Facebook, Checkout on Instagram, Catalog on WhatsApp – these are just a few social media platforms making a gigantic impact in the e-commerce world. It is predicted that buying and selling products through social media will only accelerate in 2020 and beyond. Social media has changed the retail game, because of the interactions retailers have with their consumers, influencers or celebrities promoting the brand by using the endorsed product, recommendations by other users through comments, and more! According to Walker Sands, 13% of consumers are willing to spend more money with a new brand or retailer if it has been promoted by a celebrity or social media influencer, and according to Sprout Social, 47% of U.S. customers have a more favorable view of brands who respond to questions or complaints through social media. This element of retail is going to be more than just a trend – it will eventually become the norm in the retail industry. Now is the time for retailers to get on board and leverage the social channels their consumers already use on a daily basis.
3. SMS Messages to Consumers
One of the top 2020 retail trends to be aware of and implement is SMS messaging with customers. Consumers are attached to their smartphones, making it simpler than you may realize to reach your target audience through text messages. Short message services (SMS) may be more effective than emails, which have a 20% open rate, whereas SMS messages have open rates as high as 98%, according to Power Reviews. Major brands such as Macy’s and Kohl’s now offer SMS messages to their consumers, which provide incentives for shoppers like deals, sales, coupons, and more. Implementing SMS messages to your customers in 2020 can help increase your sales, improve customer engagement, and promote immediate communication.
Expert Retail Services from SPAR
At SPAR, not only are we experts in the retail industry – we make it a priority to stay on top of the latest retail trends so we can best serve each business that we work with. Our team has years of experience in retail merchandising and is proud to provide comprehensive retail solutions to keep your store up to date and ahead of the competition, 24/7! Our wide range of services includes assembly & installation, merchandising solutions, programmatic services, store sets and remodels, and more. SPAR’s professional and knowledgeable team will work with you to make sure that your store has the support and resources it needs to succeed in 2020. To find out more about everything SPAR can do for your retail store, please contact us today!