Fashion
In the world of retail businesses, reaching success won’t solely depend on being able to offer your goods to consumers. Instead, you need to understand that both your customers and your offer are just a cog – and a very important one for that matter – in a well-oiled machine your enterprise is, or at least needs to be. That’s why every business needs to try and define their ideal customer base as early as possible.
By defining your customer base, you’ll be able to – more clearly – define some of the social factors that may influence your retail business experience. Needless to say, social factors do and will continue to affect your potential success. These factors are tightly connected to the changes in the overall population. Social media and the ever-growing concern for the environment are just some of the leading ones. So, with that in mind, here are some of the social factors that influenced the retail industry in 2020.
Since we’re living in the age of technology, it comes as no surprise that the world of advertising has experienced some serious changes. Aside from all of the traditional forms of marketing, online marketing now reigns supreme. That said, it’s important to also realize that not all consumers find the same type of advertisements equally appealing. While some consumers may find simple calls to action more appealing, others may prefer longer formats or even video advertising. That’s why retailers need to determine which approach best resonates with their audience, in order to maximize their reach.
Buying habits also changed quite a bit, especially in 2020. With consumers being encouraged to practice social distancing and minimize their outings, the way in which consumers shop in 2020 widely differs from just a year ago. What this means for the retail industry is that they also need to reshape their offer to meet this new type of demand. Additionally, 2020 brought huge emphasis on online shopping which is another thing that simply shouldn’t be neglected.
Customer service is arguably one of the most important areas of your business. Since without customers you wouldn’t really be able to conduct your business, you need to ensure that you provide them with the best possible service. But in order to be able to do so – at least to the best of your abilities – you’ll first need to learn what those customer service expectations are. As an example, while some customers prefer shop clerk assistance when browsing a retail store, others prefer to be left alone. An interesting way you can combat this is by introducing a two-basket system. Some stores decided to add two different colors of shopping baskets, so that the customers who prefer to be assisted could take one and the ones that prefer being left alone while shopping could take the other color.
Along somewhat of the similar lines, the retail dress codes also experienced some changes. Aside from the fact that the majority of dress codes is nowadays far more casual than they used to be, they now also feature a new addition – a protective face mask. Having a clear dress code was always a great way to visually diversify your employees from the rest of the crowd. That way your customers know who to address in case they need some assistance. Even in other industries, such as the casino industry for instance, a dress code was a great way to somewhat uniform your staff. That’s why casino dress code has actually experienced very little change since its early days. And nowadays, even if your company has a very loose and casual dress code, you can still rely on the face masks to bring that sense of uniformity among your employees.
Another change in the retail industry that’s gradually increasing its impact is the green movement. With the green consciousness being at an all-time high, more and more businesses need to recognize this and work their way towards making it an integral part of their offer. There are so many ways businesses can make their operations eco-friendlier. Offering reusable bags, discounts and special promotions to your eco-conscious consumers is just one of the ways you can make it clear to your consumers that your business also cares about the environment.
In the end, it’s also important to mention modern technology. Even though it may seem that everyone and their dog nowadays has access to some type of a smart device and the internet, that doesn’t necessarily mean that everyone is savvy or feels comfortable using them. That’s why retailers should ensure that their offer can be accessed both through the online world and the physical brick-and-mortar stores. This way, only will you expand your reach to both the online and the offline world but you’ll also endure that you cater to all of your customers equally.
Undoubtedly, 2020 brought numerous changes in seemingly all industries in the world. And while some industries were more affected by these changes than others, it’s safe to say that those industries that managed to adapt have better chances of reaching success than the ones that were overrun by all the latest trends.
