6 Trends Retailers Can Expect in 2016
As retailers make their way into the home stretch and aim for a profitable holiday season, it’s also time to prepare for what will be trending in the New Year. This year, we saw some astounding new technology emerge and only see the retail floor improving in the future.
We gathered some predictions and opinions from industry experts and thought leaders in the retail technology space to find out what to expect in 2016.
1. Beacons make their mark
Beacons have already made their way to the sales floor, and in 2016, we can expect to see shoppers benefit in even more ways from the technology. “The biggest single technology trend that will affect the retail environment in the coming year will be the rise of beacons as an increasingly accepted form of digital communication with shoppers,” says Dr. Lance Eliot, VP of global IT for Interactions.
2. Data leads to higher conversions
Turn that first-time shopper into a loyal customer – that’s the dream. IDC has stated that by 2017, digitized brick-and-mortar stores will provide retailers with new sources of data to convert 50% of shoppers from casual to loyal purchasers through digital experiences.
3. Mobile and well, more mobile
This is a given, but we still feel the need to mention it. In Shopatron’s 2015 Cyber Week analysis, mobile accounted for more than 50% of Black Friday traffic and 40% of Cyber Monday traffic. We expect to see this increase throughout the next year.
4. It gets personal
Available information, including location, search terms, keywords selected, items on a shopping list, and local store popularity, can be powerful indicators of personalization opportunities. A 2015 Accenture survey found that nearly 60% of shoppers want real-time promotions and offers. Let’s make it happen in 2016.
5. IoT goes mainstream
IDC says that digital signage use in retail will grow from $6 billion in 2013 to $27.5 billion in 2018 as retailers continue to digitize the consumer experience. The Internet of Things (IoT) is going to revolutionize the store of the future with its sensor-oriented devices enabling the most detailed and targeted customer centricity.
6. The unexpected
It is up to retailers to find fresh and innovative ideas to please their shoppers. Shoppers don’t always know what they want and won’t always ask for something new. Nicole LeMaire, VP of Interactions at Daymon Worldwide, says that when shoppers see something unexpected that they love, it will be an experience they’ll remember.
As 2015 winds down, there are a huge number of exciting trends to look forward to in retail. It’s important to prepare for these upcoming trends so you can make the most of 2016. Here’s to the new and exciting year to come.
This year, we saw some astounding new technology emerge and only see the retail floor improving in the future.