Today's retail customer is vastly different from that of even a few years ago. As the largest spending cohort for retailers, Millennial consumer behaviours are influencing the demands of shoppers across all age demographics and changing the way we make purchase decisions.
Consumers have higher expectations when it comes to online shopping, customer experience, and digital connectivity. Mid-market and independent retailers must re-examine their business model and determine if they are truly meeting their customers' needs — or risk losing out to the competition.
Being everything to everyone is impossible, but brands who want to survive and thrive will need to engage modern shoppers in multiple ways. Retailers should focus their efforts on these areas:
In-store experience
Customer engagement starts at your front door. A tailored in-store experience, complemented by exceptional customer service and knowledgeable associates, can drive brand loyalty and retention.
Website and e-commerce
Without a fully optimized website or e-commerce platform, retailers are leaving money (and plenty of it) on the table. Design your website and e-commerce experience with the customer in mind.
Mobile
Like e-commerce, retailers ignore mobile at their own peril. Your mobile site should be more than a scaled version of your website — it should be responsive and ready for business.
Social media
Retailers should be selective about the social media platforms they choose, rather than spreading themselves too thin. Find out where your target audience gathers and socializes online, and build your following.
Online reviews and listings
Your business and digital strategy should include regularly updating information on online business directories, and constructively responding to both positive and negative customer reviews.
A new report on retail trends in Canada provides more information on the changing shopping habits of today's consumers, including what these new behaviours mean for mid-market and independent retailers. Download your copy to learn practical strategies for reaching new customers and driving brand loyalty.