Each new year brings changes to the business world. So, start preparing your retail business for 2023 (and for the following years) with the list of trends that Balanças Marques has gathered for you.
The retail landscape is no longer the same. In recent years, many new developments have changed consumer behavior. This has also brought new trends that have marked business management – and will continue to do it.
Discover our list of 4 retail trends in 2023 (and beyond).
1. Customizing the customer journey is starting to be a requirement.
• "80% of consumers are more likely to buy from a company that offers a personalized shopping experience," says an Epsilon study.
That is, more and more people are looking for a customer journey adapted to their tastes and their day-to-day. They want brands to give them the right recommendations, to offer discounts on the products they love, to be present at special moments.
Take advantage of your customer data in your billing software and adopt new digital tools to join this trend and impress.
2. The self-service checkouts are here to stay.
• "Between the self-checkout and the traditional checkout, 60% of consumers prefer self-service," shows the 2021 State of Self-Checkout Experiences report.
Therefore, consumers already see self-checkout as a good option in their daily purchases. They believe that this way of buying offers them greater autonomy, as well as a faster and more comfortable service.
Bet on solutions that allow self-service in fluid and intuitive processes to enhance your retail business and continue to ensure the preference of your customers.
3. Sustainability will continue to make headlines - whether legal or social.
• "In addition to the European Union’s measures to reduce disposable plastic, Spain has gone further and will ban the use of this type of packaging in the sale of fruit and vegetables, already from 2023," reveal the news reports in various media outlets.
• "79% of consumers are changing their purchasing preferences based on sustainability," concludes a Capgemini survey.
This means that sustainability is at the top of the priorities of the legislative power and society. Caring for the environment is the order of the day and it's already causing several changes in the retail business world.
So, whether you have a grocery shop, butcher, fruit shop or fish shop, it’s time to find new products to make available, other equipment for management and new ways of operating, such as solutions that allow bulk sales.
4. Online shopping will continue to rise.
• "47% of consumers predict that their online purchases will increase in the future," according to Zeitgeist data.
This area, which has been expanding for some time, will continue to do so. Online stores have even won the preference of young people and are seen by many as a more convenient and practical alternative than physical stores.
In the coming years, explore and implement an online sales platform to maintain relevance in the retail world and maintain/continue to attract new customers.
Do you already have everything you need to tackle all these trends in 2023 (and beyond)? Start preparing your retail business for the future with the tips we leave you.
And if you have any questions, feel free to contact us. At Balanças Marques, we are always attentive to the needs of the retail world and, of course, able to help you respond to each of these changes with various solutions and equipment.
