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Ahead of the curve: Adapt these retail trends to stay relevant in the ever-evolving marketplace

Retail Trends

Ahead of the curve: Adapt these retail trends to stay relevant in the ever-evolving marketplace

July 18 2023

As of 2020, there were 1,045,422 retail establishments in the United States alone- Making staying attuned to emerging retail trends extremely crucial for thriving in the market. As technology continues to reshape the industry, businesses must adapt and embrace new strategies to engage and retain their customers. Here, we will explore some key retail trends that are transforming the way businesses operate and revolutionizing the retail customer experience..

Improving in-store experiences

While online shopping has gained popularity, the in-store experience remains a vital component of retail success. Retailers are focusing on creating immersive and personalized experiences within physical stores to attract and retain customers. Incorporating technologies like interactive displays, endless aisles, and self-checkouts can captivate shoppers and provide them with a unique and engaging experience that extends beyond the traditional brick-and-mortar setting.

Clienteling: Connecting on a personal level

In today’s competitive market, building strong relationships with customers is one of the most important retail trends and one that is here to stay. Clienteling enables retailers to provide tailored recommendations, customized offers, and personalized assistance to shoppers. By leveraging customer data, businesses can anticipate and fulfill individual needs, creating a truly personalized retail customer experience. Whether through personalized emails, targeted promotions, or personalized product recommendations, clienteling establishes a deeper connection between businesses and their customers.

Remote selling: Expanding reach and convenience

The rise of remote selling has opened up new avenues for retailers to connect with customers. By leveraging digital platforms and technologies, businesses can reach a wider audience, regardless of geographic boundaries. Through video consultations, virtual try-on, and live chat support, retailers can offer personalized shopping journies to customers from the comfort of their own homes.

Personalized recommendations: Tailoring the shopping journey

Retailers are harnessing the power of data analytics and artificial intelligence (AI) to deliver personalized product recommendations to customers and elevated retail customer experiences. By analyzing browsing history, purchase behavior, and preferences, businesses can curate tailored suggestions that align with individual tastes and interests. This level of personalization not only increases customer satisfaction but also drives sales by presenting customers with products they are more likely to purchase.

Flexible order processing: Seamlessly meeting customer needs

In an era of rapid gratification, flexible order processing has become an integral part of the retail customer experience. Offering options like buy online, pick up in-store (BOPIS) or same-day delivery ensures that customers have the flexibility to choose how and when they receive their purchases. By providing these convenient options, businesses can meet customer expectations for speed and convenience, while also reducing delivery costs and improving operational efficiency.

Incorporate and integrate these retail trends into your business with Veras Retail

At Veras Retail, we offer a suite of technologies that can help you seamlessly navigate the changing demands of your customers and remain ahead of the competition by embracing these retail trends. Now leverage the power of technology and personalization to create a shopping journey that captivates, engages, and satisfies customers, ensuring long-term success in the dynamic world of retail. 

To explore our products, connect with us today or read all about them here- https://www.verasretail.com/products/

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Leveraging customer data: The key to delivering personalized retail experiences

Customer data

Leveraging customer data: The key to delivering personalized retail experiences

June 16 2023

In today’s retail landscape, customer data has become the driving force behind delivering personalized experiences. With customers having a vast array of choices at their fingertips, retailers have to find innovative ways to stand out and forge lasting connections. By harnessing the insights derived from this data, retailers can unlock a wealth of opportunities to offer tailored experiences that resonate with individual preferences and needs.

The importance of customer data

Customer data encompasses valuable information gathered from various touchpoints, including purchase history, browsing behavior, demographics, and even social media interactions. It serves as the foundation for understanding customers on a deeper level and enables retailers to make informed decisions to enhance their marketing strategies and customer engagement.

Businesses can now aggregate and centralize this information from multiple sources to get a comprehensive and unified view of each customer- Providing them with a holistic understanding of their customer’s preferences, interests, and behaviors. This helps them create-

Personalized marketing campaigns

By segmenting customers based on their preferences and behaviors, retailers can deliver relevant and tailored messages through various online and offline channels. Personalized campaigns not only capture customers’ attention but also enhance their overall shopping experience, fostering loyalty and increasing conversion rates.

Seamless omnichannel experiences

Customers now expect seamless experiences across multiple touchpoints. Using customer information, retailers can deliver consistent messaging and personalized experiences across different channels, whether it’s a physical store, website, mobile app, or social media platform. By leveraging customer data, they can understand customers’ preferred channels, buying patterns, and even anticipate their next actions, allowing for a cohesive and personalized omnichannel experience.

Predictive analytics and recommendations

Customer data can provide powerful insights and predictions. By leveraging these capabilities, retailers can offer personalized product recommendations to customers, enhancing the discovery and purchasing process. Predictive analytics can also help retailers identify emerging trends, forecast demand, and optimize inventory management leading to improved operational efficiency and customer satisfaction. 

customer data

Explore Veras Suite to deliver highly personalized customer experiences

At Veras Retail, we have created tools that can help you harness the power of customer data. Integrated with a customer data platform and other strategic features like clienteling, remote selling, promotions, inventory management, and more- We make offering seamless, data-driven, and personalized experiences to your customers easy while maintaining transparency and data security. To unlock a world of possibilities and gain a competitive edge in the ever-evolving retail industry, connect with us today.

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Veras Retail Wows At NRF 2019

Veras Retail Wows At NRF 2019

February 22, 2019

Looking Back at NRF 2019

Despite market uncertainty and the looming, albeit empty, threat posed by a ‘retail apocalypse’, 2019 was a good year for the National Retail Federation’s annual Big Show, which attracted nearly 40,000 attendees, more than 700 exhibitors and featured a wide variety of sessions at the conference in mid-January. 

The show floor was alive. Any lingering doubts that the physical store would continue to serve a purpose in a world that increasingly embraces ecommerce were quashed, with so much of the conversation centering around ways retailers can create a seamless in-store and online shopping experience, and how new technologies are setting the stage for next-level customer personalization. 

Amid robots and drones and endless talk of AI, analytics and machine learning, other trends that emerged at this year’s conference centered around the need for advanced in-store and payment solutions that can keep pace with customer data privacy regulations like CCPA and GDPR. Fraud prevention also was top of mind and remains as pervasive as ever, accounting for up to an estimated $24 billion in losses in the U.S. each year. 

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Given all these factors, we picked a good year to ramp up our NRF exhibition game. This was only our third year exhibiting in the Expo Hall, but it was undoubtedly a major step up from last year with double the booth size. Visitors also noticed our bigger footprint, both in terms of square footage and presence. When demonstrating Veras Activate’s ability to simulate the interaction of complex promotions weeks in advance of their effective date, another prospect said, “Now you’re going to make me cry!” 

A consultant informed us, “Now that I see your booth, I know you are big enough to work with my client.” Although positive, this comment admittedly stung a bit, “Veras Retail is the best-kept secret at NRF! Why didn’t I know about you guys before?”

The booth was indeed inviting, and our products clearly resonated with brick-and-mortar retailers looking to enhance the in-store shopping experience and help drive revenue and brand loyalty. Ultimately, the feedback we received at NRF 2019 provided validation that our decision to focus on customer needs and satisfaction after we acquired the store systems suite from JDA Software in 2016 was the right one.

At NRF 2019, we showcased our re-platformed Veras Reach solution, which offers a powerful combination of CRM and customer loyalty program capabilities to help retailers think outside the box in terms of how they can reward their best customers, for a fraction of what other loyalty programs cost. 

We demonstrated the forthcoming Bluetooth beacon-driven Veras Affinity clienteling module, allowing sales associates to proactively engage customers on the sales floor as they shop. We also announced that Veras CheckOut 10.2 point-of-sale includes integration with Appriss Retail’s innovative return authorization technology, Verify®, which uses individual customer behavior data to render a fair decision to accept or deny merchandise returns. 

If we didn’t get a chance to connect with you this year, make a note to stop by our booth at NRF 2020, #1253. It’s sure to wow again!