Pernille Hinnerskov Jensen

Retail predictions 2019

Let’s take a look at 2019! A new year means new possibilities and new challenges. Perhaps new technologies too. A lot has been going on in the retail industry for the last couple of years and if we have learned anything it must be that no one knows what tomorrow brings. But that doesn’t mean it is not worth keeping up with trends and predictions. Great knowledge and having one’s finger on the pulse can potentially make the difference between you and your competitors’ success, so you’re the one standing out in the market. We’ve gathered two prediction lists for 2019 and will accentuate a few of our favorite points in this article.

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Store concepts – it’s all about the in-store experience

Even though the retail industry experienced several big bankruptcies last year it is not the end of the brick-and-mortar store. If you can create a great in-store experience the customers are likely to come back. Unfortunately, there is no such thing as a formula of the perfect experience that fits all, so it will probably take some experimenting to get there. What we have seen so far, and what will continue in 2019, is different technologies such as AI, VR and the use of mobile phones in different creative ways.

Number 3 on Vend’s list: “The “right” customer experience strategy will depend on your products, your store, and your shoppers. It’s essential that you know all three like the back of your hand so you can come up with the best offerings possible.” Read the entire list here.

 

Loyalty – refresh or renew to stay relevant

Loyalty programs are hardly new to anyone. But you must think of new ways of using your loyalty program and the customer benefits it offers. Quite a few big retailers changed or updated their loyalty programs last year. That means they’re ready to compete about gaining the wanted customers’ favour in 2019.

Number 8 on Retail Dive’s list: "Loyalty program features can be quickly copied amongst retailers which forces innovation to keep customers happy with their current program," Grant said. "Additionally, better benefits will likely lead to more customers joining loyalty programs. With smart marketing strategies, the higher number of loyalty members will likely lead to greater sales." Read the entire list here.

 

Integration – support a seamless experience

As consumers’ expectations are getting higher and higher it is more crucial than ever, that all your business systems are integrated with your POS solution. That way you can offer your customers that seamless experience they demand, and you have a foundation to build on as new technologies arise.

Number 7 on Vend’s list: “From warehouse operations to inventory management, more effective logistics to enhanced customer service and more, consumers are demanding more efficient, more personalized expectations from merchants than ever before. Retailers must embrace these realities of customer preferences in order to truly thrive in 2019 and beyond — with a core focus on welcoming technology to help make more proactive decisions in all aspects of their retail operations.”  Read the entire list here.

 

 

We offer an omnichannel POS solution called 52RETAIL that supports much more than just selling your products. First, we make sure all your business systems are connected. Second, we can help you with things like a loyalty program and make it part of a complete omnichannel experience. We’re constantly developing our solution, so we can help you and your business stay competitive.

Read more about 52RETAIL here.