The retail industry had undergone many changes now. JWT, which is a significant brand of marketing communications, evaluated the latest six trends of the retail industry in 2013. This clearly reveals the customer behavior and the mind set in the coming years. Top six Retail trends are as follows:
- Rise of Amazon
- Variable prices
- Online Grocers
- Tablet shopping
- Self service
Rise of Amazon: In the beginning, the arrival of this e-commerce portal threatened the booksellers but later it become a competition to all type of retailers. Amazon is growing wildly. For the brick and mortar shoppers it is hard to beat the price of Amazon. Walmart, which has a strong e-commerce presence, is expecting to be the biggest retailer in the upcoming year.
Variable prices: For the same rooms or seats, the airlines as well as the hotels are charging different prices. While Amazon vendors introduced software that adjusts the price. Today the differential pricing for on demand services is being implemented from the parking area to the hotels.
Tablet Shopping: A major number of customers nowadays depend on tablet shopping as the retailers offers the catalogs in a single touch on the tablet. Online grocers: Most of the customers rely on online grocery shopping. The IBISworld says online grocery shopping has achieved 9.5 percent of annual growth in the sector. This happened because of majority of the customers rely on online grocery shopping.
Self Service: New Self- Service options in the shopping market offers the customers to shop on their own interest and also it help them to cut off the labor cost. Airlines are offering self-service options to tag in their own luggage and self-checkout option is also introduced to the customers. The introduction of the Smartcards and apps like scan and go are being lapped up by the customers. The customers really like the self service option.
All this are believed to be the latest trends of the retail industry which are definitely going to bring about a lot of changes in the way services are offered by retailers and the way shoppers shop.