How Retail Industry And Customer Purchasing Patterns Will No Longer Be The Same Post-Pandemic
Modern trends that are reshaping the way customers are purchasing retail products.
A world full of walk-in stores and glittery lights, where anyone could come in and buy from an endless collection of products. This was the reality of the retail industry prior to the pandemic of 2020.
However, “sudden lockdowns” across countries stunned the entire industry and halted all the global operations. Major brands were forced to realize the power of digital marketing. Those who once underestimated it are now heavily investing in marketing people over the internet.
Although consumer behavior is ever-changing, this might be one of the biggest disruptions to shopping behavior in a long time. More people are now finding online shopping an easier and safer alternative right now.
Take a look at which trends might be shaping the new retail landscape in the coming years to come -
1. AI + ML
Technology is no longer simply a bunch of codes running together. It is actually a living machine that is filled with powerful engines. Although there’s a lot more to explore, technologies like Artificial Intelligence and Machine Learning are making a huge impact on consumer behavior.
Product recommendations are getting perfected each day, making the entire customer journey mapping very predictable. For instance, my building has installed a new vending machine that has a built-in operating platform. Since going out was risky, most of the flat owners have now started purchasing everyday items like milk from there itself. A neat trick they’ve used is analyzing buying history of individual users and prompting them with restocking notifications of frequently bought items. It creates the scarcity belief and eventually making people buy in bulk.
2. Shopping Via Social Media Stores
Have you come across one of those Instagram stores yet, ones that sell clothes?
It’s so powerful that even an individual person can go ahead, begin marketing, and start selling products. With a click of a “Shop Now” button, people are easily able to make transactions using their pocket-sized phones. In the years to come, I think we might be seeing a boom in these online social media stores.
The kind of marketing performance tools offered by platforms like Facebook and Instagram have made it even better for brands to analyze their audience. Given the limitations of traditional marketing like high costs, I think more brands will start shifting to this sector.
3. Product Search Using Camera
It’s fascinating to see how your phone camera can help you find the exact product you want. The other day, I found a really cool shirt online but couldn’t find any product links to it. So I simply opened up my Zara app, scanned the shirt through the camera, and boom! The product page was all ready, waiting for me to shop it right away!
Camera search is a great way to guide customers directly to what they want. These are several brands that have started integrating this feature into their websites. In fact, visual search is also a great way to provide incentives. I have noticed a couple of times that usually when I search for any product through this feature, it seems to have a discount or some incentive on it. It’s also a great space to provide a recommended list of items for the customer!
Well, those are some of the important trends that we all need to start observing carefully. Purchasing patterns are tough to analyze but hold a lot of data.
Do any good examples or trends come to your mind? Let’s start a discussion and brainstorm new ideas that might be up and coming.
But that’s it for today! See you again in the next post! Until then, make sure to wear masks and stay safe!
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