Retail Trends to Look Out for in 2022

Retailers have emerged out from the profound upheavals by embracing new opportunities: the customer-first approach, friction-less shopping, utilizing technology, providing real-time solutions, and many more.
Retail Trends to Look Out for in 2022

The massive transformation has been seen in both online and offline operations to recover from the setback by the pandemic.Customer habits have evolved and thus the retailers are rewriting their modus operandi to recover from major crises and looking forward to ways to drive their sales. 

Retailers have emerged out from the profound upheavals by embracing new opportunities: the customer-first approach, friction-less shopping, utilizing technology, providing real-time solutions, and many more. And thus, there have been various new trends in the industry which include augmented reality-based shopping, influencer marketing, headless commerce, social commerce, mobile commerce, voice ordering, same-day delivery, and the most important ‘e-commerce a new norm’. 

The major shift observed in consumer behavior is an inclination towards personal care and green products. As per the reports of shopping trends by Accenture, “34 percent of consumers are increasing their purchase of personal hygiene products while cutting back on more discretionary categories”. 

Building New Trends

Providing experience is making retailers more successful, “Increasing convenience, saving time and creating quality experiences have become the pillars of successful innovation” mentioned by Tanya Ma, Plug and Play Brand & Retail. 

Because of digital transformation, customers are empowered with information at their fingertips 24/7. And to fulfill customer desires and provide them with personalized experience retailers are innovating every minute in all spheres. Retailers are finding unique ways of attracting customers to store and improving in-store enhancement, ease of payments, fast delivery, and personalization. 

Easier and quicker modes of payment like Apple Pay, Android Pay, YReceipts are providing excellent service with just a click of a button. 

Innovations like Aisle41, Iconeme, Magic Mirror, YrStore are the new ways of attracting customers back into the store in this Amazon-dominated world.

Retailers are trying to attract more and more customers by understanding their behavior through advanced technology like Viewsy, CloudsTag, One Iota, Face Recognition, and more. 

Customer is asking for hyper-convenience; retailers are making themselves available with exclusive services of maintaining front end with strong back end innovations. The supply chain is the lifeline of retail, and technology has offered several ways to streamline the way goods are handled. It’s time to make smart decisions using IoT, RFID, predictive analytics to make futuristic delivery possible through drones or autonomous robots.

The Right Side of Tomorrow

There is no scope of returning to normal, revisiting the retail decision-making strategy will provide the retailer's power to navigate the future. Brands should utilize the right channel to reach their right customer, and as we move into 2022, social commerce is going to be an integral part of retail. 

As per the recent report by eMarketer, “U.S. retail social commerce sales are projected to surpass $36 billion by the end of 2021, which is about 35 percent more than in 2020”. 

The time is of instant gratification, and customer demands for hyperlocal delivery options, which can be overcome by expanding their delivery fleets and with the right technology partners. There is a huge scope of incorporating direct-to-consumer retail strategy in both offline and online retail. 

As per the Harvard review notes, “As a retailer, you need to create an interwoven journey that’s relevant to your target consumer”.

Beyond digital connection and purchasing options, another trend gaining popularity is ‘layaway’ payments. As per the prediction by Bank of America report, “BNPL transactions will grow 15 times over what they are now. Another payment method worth considering is contactless proximity payments. 

One study predicts that by 2022, 46.8 percent of smartphone users will use proximity mobile payments, and by 2025, proximity mobile payments will have 1.49+ billion users worldwide”. 

Retailers constantly review their offerings to be innovative in meeting expectations and personalizing experiences. Adaption is the key to success, let’s see which retail strategy will align with the shifting realities of retail 2022. 
 

The massive transformation has been seen in both online and offline operations to recover from the setback by the pandemic.Customer habits have evolved and thus the retailers are rewriting their modus operandi to recover from major crises and looking forward to ways to drive their sales. 
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