2018 Retail trend analysis is a good place to start to improve 2019 ROI

Autumn has arrived, which can bring a great opportunity to ‘turn over a new leaf’ in your business. This is a great time to review the business and marketing plan, assessing what is working and what needs adjusting. Take a deeper look into the marketing channels you use and analyse your ROI. The question is: is the money you spend and the effort you are putting in, worth the business generated? If not, investigate different ways of targeting your audience.

In the 2018 Retail Trends, carried out by KPMG’s Global Consumer & Retail practice, they explore some of the biggest retail trends impacting the industry:

  1. Customer experience is more important than ever as retailers are striving to differentiate themselves in a challenging and crowded market. Consequently, experience per square foot will be the new retail metric to measure success. 

 

  1. Artificial intelligence will gain more clout with some executives predicting that 85 percent of all transactions will be AI-based by 2020. 2018 will be the year we see AI being deployed at scale.
  1. The rise of the conscious customer will continue as consumers base their buying decisions on many factors beyond price. These new consumers led and influenced by millennials, are exerting influence on retailers and forcing them to act. 
  1. The retail world we were promised is here and it will continue to impact the path to purchase. We've arrived at the intersection of elevated consumer expectations and technical possibility.
  1. A tale of two hemispheres is playing out as platform players and non-traditional retailers expand their reach and offerings. The juxtaposition of what is happening in the West and the East will dominate the retail landscape with the latter in many cases moving faster than the former. 

Are you putting all your marketing resource in one basket?

How easy is it to tick boxes in our busy lives and be satisfied we have completed a task? Marketing can be like this for some; post a topical comment on social media and send out customer emails (job done). This can be done month after month, then we wonder why we do not see a change in the bottom line.

“The definition of insanity is doing the same thing over and over again but expect different results.” (Albert Einstein)

Each new season brings new opportunities and Autumn is no exception. The retail, motor trade and online shopping industries can thrive in the coming period, with; back to school, new fashion, new car registrations, Halloween, and the Christmas build-up. Now is a great time to showcase your products and services and drive traffic to your showroom, store and website.

You may be wondering how you can improve customer traffic?

Direct mail is a great way to drive people to your website. With offers, vouchers and redeemable coupon codes online, to give your customer’s an incentive to browse your products and for you to increase your sales.

92 percent of young shoppers say that they prefer receiving direct mail for making purchasing decisions. (1). The beauty of Direct Mail is, it can be highly targeted and personalised; with exclusive offers, invitations, targeted products of interest, all based on what customers have previously bought.

Direct Mail has helped many retailers and dealerships to reach their customers and increase their sales. We know it works and our customers are happy with their results. Let us support your next campaign with targeted, personalised, Direct Mail. Contact us by telephone: 01905 621118 or email us at sales@bpdm.uk to have a chat and start on a new road to achieve your business goals.

1. MarketingSherpa