Consumers are now bombarded with a constant barrage of special offers, promotions and marketing campaigns which can make the eyes weary and the mind confused! We are no longer safe from the onslaught even in our own homes as our increasing love of online shopping and loyalty programmes has ensured that our personal information is readily available to retailers and, quite naturally, they use it! Unsolicited emails and text messages are now a fact of life as retailers fight tooth and nail for our patronage.

Sign of the Times

We live in interesting times when it comes to shopping. There has been a steady increase in the proportion of our shopping that we do online and via our mobiles and that is changing the retail landscape. Many independents are struggling to maintain their bricks and mortar businesses and for most it will be only by moving with the times that they can secure their futures. However, the goal posts are constantly moving. New technology is being developed all the time and it is hard for independents to keep pace with the developments which often require a level of investment that small businesses would struggle to finance. At this point it is hard to know how the balance between in store and online shopping will evolve either.

A Greater Understanding

There is a danger that independents could be swallowed up completely by the big boys who have the resources to offer experiences, services and delivery systems that are beyond the means of the smaller operators and this is true of both in store and online sales. One thing which is becoming clear is that understanding the customer and serving up what they want when they want it is crucial and happily independent retailers are in a position to do that.  Software is available at reasonable cost which can help independent retailers to run their businesses efficiently and to understand their customers’ shopping behaviour.

Indeed today’s retailers are in an unprecedented position with regard to the availability of valuable data. With the right systems in place they can analyse who their customers are, what they buy, when they buy it and what works best in store and online. They can see trends, predict future trends and respond accordingly. Retailers can ensure that they hold the right stock at the right levels and can create promotions tailored to and targeted directly at specific customer groups. Loyalty systems are particularly useful in this regards and are thus a crucial feature of multi-channel retailing software.

Good News for Consumers

As for us, the consumers, we may sometimes feel tired of promotions and marketing communications but the situation isn’t all bad. As time moves on, such promotional activity will become increasingly refined and tailored to the individual and so it is likely that those communications will be of greater interest to us. We won’t mind it all so much if we are hearing about the things we really want and if we are getting a great deal.

The retailers who will prosper in the future are the ones who will use technology not only to showcase and to sell their products but also to understand who is buying them. The software is already there and evolving all the time and those who ignore it do so at their peril.

Article by Sally Stacey