As we head into a new year, now is a great time to prepare your brand so it's ready to engage customers and spark the loyalty all companies need to thrive. Let’s look at what's on the horizon and how it's impacting buyer patterns.
1. An Addiction to Convenience
Convenience is the big takeaway from COVID-19, though it's worth noting that we were on that trajectory long before the onset of the pandemic. Customers want instant gratification wherever they can get it.
Regardless of whether it's online or in-person, they want their shopping to take as little effort as possible. Ideally, there should be no friction between wanting, buying, and getting. With same-day shipping available from major retailer players, expectations are climbing higher every day. When it comes to in-person shopping, buy online and pickup in-store (BOPIS) and curbside pickup options are shopper essentials for convenience.
2. Focus on Sustainability
Consumers are looking for eco-friendly products and business practices, and retailers are looking to meet consumer demands for sustainability. When it comes to stocking shelves and awarding display programs, retailers will be looking for brands that can demonstrate a commitment to sustainability
3. Online Availablity
A study from Raydiant found that 54% of consumers surveyed prefer to shop online. This trend is a natural consequence of wanting convenience at all times. While same-day shipping is achievable, there are still times where same-day may not be soon enough—or the product in question isn’t available for quick shipping. Meanwhile, brick-and-mortar stores naturally offer same-hour availability.
Retailers who can offer accurate inventory online for their stores, coupled with pickup options, can meet consumer needs for convenience. Digital is an important aspect for retailers, even when it’s not direct online shopping. Store locations, hours, and inventory, as well as promotional offers, are key digital pieces to bringing consumers into stores. When it comes to promotions, 51% of consumers prefer getting coupons on their smartphones.
4. A Need for Innovation
Keeping up with new customer demands may mean brands need to introduce a subscription service, rethink their packaging methods, or implement pop-up events to keep up their relationships with customers. Of all the 2022 retail trends, many experts are eyeing the potential introduction of augmented and virtual reality into retail stores. AR and VR experiences in stores or online give people a chance to learn more about new products or initiatives that the company is taking.
5. Focus on Selection and Environment
Selection and environment lie at the core of all brands. In 2022, retailers will need to create an experience that customers want to return to, which can mean anything from more attractive arrangements to a higher priority placed on the most in-demand items.
Retail stores offer an experience—one many missed during pandemic closures—where consumers can see, touch, and try out products before they buy. With convenience as a priority as well, shoppers want an enhanced experience in-store to easily get what they’re looking for as well as opportunities to be delighted and bring joy to their shopping trips.
6. Advanced, Sophisticated Personalization
Major retailers use algorithms to predict what customers will need both now and in the future. This trend has become incredibly sophisticated as the years go by, and it's leading customers to expect personalized recommendations based on anything from their budget to what they had for breakfast.
7. Supply Chain Transparency
What's happening, where it's happening, and how it's happening has a lot to do with a brand's bottom line. More transparency with consumers is also necessary for brands who want to prove their commitment to business ethics. Customers want to know that workers and the environment are treated fairly and that the companies they support have nothing to hide.
8. At-Home Economy Remains Strong
From cooking supplies to spa products, people are still pouring money into making their residence an oasis. With more people working from home than ever before, the quest is to exploit the space and ensure it serves those who live there. Retailers specializing in these goods or who can branch out to meet the demand should consider how customers can create an escape for themselves — even when they're spending most of the day indoors.
Following the 2022 Retail Trends
At Bay Cities, we keep up with the latest trends; whether it's the demand for more sustainable packaging or the need for sharper, more vibrant colors, we aim to stay on the cutting edge of whatever's next.