7 Retail Trends That Could Affect Your Ticketing
The retail industry is being hit from all sides with change. Shoppers are behaving differently, mobile technology is advancing at unpredictably fast rates, and the internet has totally changed the retail landscape forever. But with change comes opportunity and these trends are likely to impact how you approach your business in the not-so-far-away future.
In a new report from JWTIntelligence, Retail Rebooted, retailers are advised to watch out for more than 20 trends dealing with innovation, shifting consumer behaviours and the latest tech developments. Have a look at the ebook for the full report. We’ve identified seven trends that could have a direct impact on your ticketing strategies.
1. Click-and-Collect shopping
The two major grocery stores in Australia already have online shopping with home delivery. Chances are this highly convenient method of shopping will begin to infiltrate other retail categories sooner than later. It becomes vitally important to have your online and in-store promotions and tickets showing the same price.
2. Clockless days
It’s not unusual to see 24-hour shopping around certain holidays in Australia like Christmas and Easter when fishmongers work around the clock to meet demand for holiday meals. Consumers are beginning to expect never-ending opening times and that can put pressure on retailers without a centralised ticketing service.
In an effort to capture the mobile shopper, retailers are beginning to make special offers via mobile apps and social media for shoppers in close proximity to the physical store. While this isn’t new technology, retailers are discovering it’s a great way to combat showrooming and draw consumers into their store.
4. Mobile-powered consumer
Not only are shoppers doing their research online, they’re using their mobile phones more and more often while shopping in the store. Retailers can capture this market using things like QR codes on their shelf-edge labels to help them make more informed choices in the aisle.
5. Self-Service shopping
Mobile screens, tablets and self-checkouts are becoming a major part of the shopping experience. Apple is just one retailer who has created a shopping app letting the consumer conduct an entire transaction on their mobile phone. Comprehensive product information on your store promotions helps these self-directed shoppers make purchasing decisions.
6. Stores as an extension of the website
One way to combat the out-of-stock problem is to let shoppers use your website in the store. It reduces (or even removes) the need for cash registers and large inventories. Shoppers get a ‘living, breathing, website’ where they can see samples, try things on and then order exactly what they want. It’s another trend showing the importance of omni-channel pricing strategies.
7. Variable pricing
Electronic shelf labels allow retailers to change the price of items multiple times a day or even offer different customers different pricing. It’s a great way to enhance the value of loyalty programs and manage inventories with very little effort and cost to the retailer.
What this means for retailers?
Consumers are responding to organisations who embrace the ever-changing retail landscape. Considering how your brand can enhance the shopping experience for the modern consumer is vital for future success. It’s more important than ever to present a seamless experience between online and in-store shopping as consumers are expecting to move between the virtual and real stores as a normal part of their shopping activity.
If you would like help on how a strategic ticketing service can address the challenges presented with a demanding consumer, contact us.