world of retail marketing just got a lot more personal. Consumers are embracing
new ideas and technologies and expecting their retailers to take advantage of
those innovations to create a more individualized shopping experience.
Retailers have many more creative channels available to customize their
interaction with customers, and new tools keep emerging to withstand in the
competitive arena. These advances allow retailers to quickly respond to
changing customer expectations and offer creative encounters that can improve
brand loyalty and bottom-line sales. These new trends increase the channels
through which retailers can reach customers.
Exciting trends in retail
Retailers can't afford to ignore the fact that consumers have solidly embraced social media. A January 2010 consumer attitudes survey on social media has shown that shoppers are more likely to do business with a retailer who recognizes them as unique individuals through social media.
Consumers are ready to share engaging social media experiences with retailers. In a 2008 consumer experience study, 76 percent welcomed brand advertising on their social networks. The same study reported nearly 40 percent of consumers have "friend" a brand on Facebook or MySpace, and 26 percent follow a brand on Twitter. 2 Consumers want a personalized experience. Every contact that a retailer has with customers using social media, such as Facebook status and Twitter updates, will build relationships and ultimately influence the buying decision.
The authors are associated with Department of Fashion Technology, Angel College of Engineering and Technology, Tirupur.