6 trends for retailers to watch out for

July 4, 2018

The retail world is changing thanks to modern technologies and new, exciting procedures. In order for businesses to stay ahead of the game it is important to recognise what the future will hold. Here are some of the most significant trends that we are likely to see within retail in the coming months:

1. Contactless card payments

Contactless payment terminals have already begun to be the norm for many shoppers, and the increase in the number of customers with contactless cards sees no signs of stopping. In the UK alone, there are 108.4 million contactless cards issued, and in April 2017 these types of card were used to spend £3,913.3 million. Within the UK there is an excess of 491,084 bank-owned terminals available for contactless transactions. []

2. Customers will want human interaction

As stores become more and more automated experts predict that shoppers will still desire interaction with human staff members []. This poses some benefits and disadvantages for stores. Automation saves money in the long run and makes the shopping experience both convenient and efficient. This will be lost if customers turn against these changes and demand a return to more traditional forms of transaction. On the other hand, if stores choose to focus on hiring human staff they will have a brand that is perceived as friendly and warm.

3. Increased mobility

General Motors has announced a new system that allows customers to shop online from their cars. This development could revolutionise the way shopping is done online. []

4. Artificial Intelligence

We are likely to see increased utilisation of AI tech in practically every aspect of retail in the near future. As these technologies continue to improve and innovate, so too will the retail sector. []

5. Television ads will decrease

On Demand TV means potential customers can now skip ads, so video advertisements are moving onto popular internet sites instead. Websites are tackling ad blocker effectively to allow ads to still be viewed by online users. []

6. Targeted Ads

Ads are becoming more personalised in order to give potential customers a tailor-made experience. Customisation based on an individual’s unique tastes is set to be a growing trend in 2018. []