10 Retail Industry Trends 2016 to Hook Consumers' Interests

With rise of technology and preference for mobile service, retailers are expanding business opportunities based on 2016 trends and consumer preferences. Services are becoming more customized, and payment options are getting easier. With more payment channels going liberal and secure, the retail industry analysis show that there are bright chances of greater number of customers to buy products online than from local stores. Here are 10 trends in retail industry for 2016 for B2B and B2C networks.

1.      Cash on delivery option along with card payments have made it effortless for consumers to purchase anything, anytime without any worries.

2.     Smartphones will be a major platform for internet of things, click-and-collect efforts, and synergy programs for retailers in cracking new business horizons. Pick up in-store experiments with mobile will help merchants to allow customers purchase goods via mobile phones.

3.     As per retail market research, data collection will be both on online and offline channels with better analyzing technologies to assist go digital networks.

4.     Everything will be available in a jiffy, as emotional experiences of customers would be accounted for, and personalized options presented in ready mix.

5.     Cloud based solution for retail management system will be used more often, with multiple channels installed to avail product access for people. Customer can view sales point of view, inventory and popular things on display, so as to effective plan their bucket list.

6.     The shopping journey for a person can be done from one place with absolute no need to travel, while the customer support technology will be dimensional to reach users instantly.

7.      The retail market research and analysis of 2016 predicts that omnichannel objective will be a priority this year, and frictionless shopping would be more of an advantage.

8.     Promotions and value rewards will earn more attention from people, and retailers will seize the opportunity by capitalizing more on such offers.

9.     Fraud management will be stringent and numbers of quality security companies will increase given the demand for a secure shopping experience.

10. Social platforms would be target to amass followers and visitors to the websites, while major campaigns will be launched on social channels to spread the word and launch of brands.