3 quick win ways to tap into 3 key retail trends
If you think of retail trends as something that only applies to big businesses, then take heart – the right insight and action will get you much further than oodles of budget. At the end of the day this is about customers and how they want to shop with you, and any size business can take steps to improve this. Especially given that many of the most beneficial ways to take advantage of trends are quick, affordable, small changes.
With that in mind, here are three major retail trends and the quick win ways you can tap into them:
Storytelling is one of those trends that people talk about a lot but fail to do anything about – to their loss. Stories have been part of the human experience as far back as it goes, often because they help convey information in a more interesting way. They also help us retain it better as stories are 22 times more memorable than facts.
You can tell stories in a myriad of small, affordable ways – to get started why not stick little tags around your store that tell customers about the products, and why they’re interesting and different? Simple but even big brands like Dr Martens and Huckberry have recognised the benefits of this approach.
Another great quick win is to make sure that you and any staff know the stories behind the products yourselves, so you can talk to customers about them. If you can start thinking about the products in your store less as things, and more as enhancements to customers’ lives then the stories behind them become a vital part of the conversation.
If you’ve shied away from tech in your stores because of the associated price tag it’s time to change that. Tech doesn’t have to be expensive, but it can be a powerful way to enhance the sales experience. In-store interactive screens are a great example of this. You could use them for storytelling or to provide customers with an endless aisle option. The flexibility of this tech is part of its appeal.
Best of all, you don’t need a costly specialist system to do it. A large touchscreen can be bought for around £600 these days. If you connect it to a £200 HP Chromebox and use the free Google Sites to create a mini website to host the content, then you can have a high-quality tech experience of your own for minimal investment.
AI isn’t just part of our future, it’s part of the here-and-now. According to AI experts Peak, businesses that use AI grow 30% faster than those that don't. The good news is that you don’t need a big budget, in-house experts or even a huge business to take advantage of AI.
Companies like Peak can work with any size of business to let them tap into the power of AI. They do all the heavy lifting on the complicated stuff, so you can just benefit from the AI’s insights and actions. They also work with all of your existing systems and data so there’s no associated investment costs as well. There are all sorts of new tech solutions from big data to the internet of things that are now being offered in this ‘plug-and-play’ fashion which means that you can benefit from it all simply by choosing the right partner.
About the author
Cate Trotter is the Founder and Head of Trends at Insider Trends, a leading London based trendspotting consultancy. With an impressive portfolio of clients including L’Oreal, Unilever, EE, Chanel, Absolut Vodka, Marks and Spencer, Clarks, Philips, Jyske Bank and Lego, Cate specialises in presenting powerful insights in a no-nonsense way.
Insider Trends helps well-known brands get ahead and stay ahead of their competitors. Its trend tours give clients first-hand experience of the latest trends in action, and introducing them to the innovators who can solve their problems using the latest thinking and technology.
Register now and don’t miss Cate’s session as she delves deeper into these trends at Spring Fair, on the Main Stage on Monday 4th February. At 1pm.