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Retail's Biggest Growth Opportunities
By
Ashley Gross
April 28, 2022

Growth will continue to be all-important in each business. Also, while ironically, it can be enticing to question if business growth must be a goal in its virtue, it’s indispensable to acknowledge that retail growth comes with outstanding benefits.

But what are the retail’s biggest growth opportunities? Worry no more! The retail’s biggest growth opportunities are:

Shoppable Social Media Posts

This is perhaps not the only moment you have come across’ shoppable social media posts.’ Shoppable is now a spirited trend, with social sites, retail brands, and third-party applications making it easy for clients to buy directly from social media influencers’ content and images. However, other creative brands are ferrying this hot trend another step ahead, using state-of-the-art video tech to feature shoppable stories.

Ted Baker is one excellent innovator maximizing shoppable storytelling. Their video (“Keeping up with the Bakers”) performed 5X higher than that of the “vertical standard case.” According to Steve Callanan (WIREWAX CEO), “the overall process entails magnifying the internet experience to challenge the physical experience’s scents, sounds, and sights. Most internet experiences seem like they are only a fundamental car ‘that is’ after people’s cash. It’s nearly rude. Most individuals now wish to feel the retail brand has received the ability to go for their money. “

All Brick And Mortars Need To Get Online

The retail space has been in constant flux for more than two decades. From the menace of large-sized chain shops to present-day advancements in mobile tech and the launch of eCommerce websites, each retailer has had to restyle in reaction to several reorganizations and trends to allure consumer awareness. One common way retailers explore these modifications is by shifting to selling products/services online.

The primary reasons why all brick & mortars need to get online include cost-effective expansion, enhanced brand awareness, improved customer reach, and round-the-clock product/service sales. Other benefits of getting all brick and mortars online include added brand value, enhanced customer engagement, and improved customer satisfaction.

Automated Technology

You can generate more retail sales by re-captivating inactive clients. But instead of checking your directory personally, you can involve marketing automation platforms to complete the task automatically.

Solutions, such as Marsello, can section your client directory and discover the customers who have not purchased any stuff for a particular time. From this point, you’ll find it easy to develop re-engagement campaigns motivating those clients to check your merchandise again.

Interactive Retail Experiences

The interactive retail experience is not a new concept. However, many retailers are not still hitting the point when tailoring their customers’ experiences.

Nordstrom is an excellent case where this concept has been implemented successfully. Here, Nordstrom.com remembers its customers’ sizes based on their past shopping behaviors.

Sephora is another case. Sephora creates relevant item recommendations as per the customers’ past purchases.

Final Thoughts

Generally, retail growth will remain a positive thing that displays that the business offers client value. The above are the top-rated paths you can follow to drive this growth. Implement those opportunities for a better chance to generate more sales.