How to: Appeal to Today's Consumer
Today’s consumers are a lot different to the consumers that have come before them. The digital age has increased their expectations when they are shopping. If you are looking to tap into this consumer, the following ways are a good start.
Innovation is key to success in the retail industry. Consumers are constantly looking for fresh exciting experiences and products. In order to meet this demand, retail stores need to be agile. They need to be easily able to put their ideas into action. This is particularly easy for smaller retail stores that don’t need to go through a chain of command to get something approved.
Today’s consumers want to be kept in the loop about where their products are coming from. They won’t turn a blind eye to unethical practices and shady sourcing. Issues like child labour and unsafe working conditions have caused damage to big brands such as Nestle and Primark in the past. Companies that give their consumers a full breakdown of the supply network of their products will excel. This year at Autumn Fair, there will be a sourcing sector filled with suppliers from around the world. Brands and retailers won't have to travel overseas to source their products.
The environment and ethical consumerism is at the forefront of the political and social agenda. Consumers are willing to pay higher prices for products and services that aren’t harmful to the environment. They are also boycotting products that are. Retailers need to invest in suppliers that have sustainable practices if they want to take their retail store into the future.
Consumers aren’t satisfied sitting on the side lines while retailers decide what should be popular. They want to be involved in the process. Retailers can do this by talking to their consumers and conducting market research to find out what they want. Personalisation is also really popular for this reason. Consumers want to feel like they’ve had a part to play in the products that they own. If they can help design the product, or add a touch of themselves to the product, they feel like they’ve achieved this.
Looking for more retail insights? Visit our September show Autumn Fair and take part in the free workshops and seminars.