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Online Retail Trends in 2016: What retailers should know?

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Nowaday, beside the physical retailers, the online retailers also encountered difficulties and fierce competition. To be successful, they need to catch the trend of consumers and create the smart strategies. In 2015, there are several big trends in the field of online retailers such as: mobile devices, millennials and beacons. According to professional digital marketers, 3 trends above that will continue to grow and will have a strong influence to the online retailer in next year, 2016. We will learn more about that in this article.

Mobile & Retail

Mobile is the primary driver of web sales growth for many online retailers that put mobile at the forefront of their web strategy. The use of mobile apps for shopping has doubled in the past year. Let’s see the statistics below:

  • 14% of consumers would prefer to pay via mobile vs credit card.
  • 41% actively use mobile apps while in-store.
  • 75% research products both online and in store before purchasing.

All retailers should know that shoppers who shop via mobile spend 66% more than shoppers who only buy in store. Retailers with a solid digital strategy can capitalize on customers’ showrooming. And with mobile devices, 36% of comsumers would find the ability to scan product bar codes with their devices desirable. This is a trend that retailers can not ignore in 2016.

Millennials

Millennials are technologically saavy, vocal on social media and increasingly open to sharing personal info. They demand a true blend of online and offline shopping experiences.

Why should retailers care? By 2025, Millennials will make up 75% of the global workforce.

  • 14% said a TV ad got them to buy
  • 41% have made a purchase using their smartphone
  • 63% stay updated on brands through social networks
  • 89% would prefer a store with advanced mobile capabilities

There are currently 2 billion millennials living in the world and according to some estimates, this group already accounts for half of all retail spending. The millennial annual spending in 2015 is $2.4 trillion and in 2018, it is predicted to rise to $3.4 trillion. 68% demand an integrated, seamless experience regardless of the channel.

Retailers need to reach millennials because it make up a trillion-dollar demographic and are transforming shopping for everyone. Retailers must radically change the way they operate if they want to deliver the seamless shopping experience that millennials have come to expect.

Beacons

Beacons are small BLE (Low Enegy Bluetooth) transmiters whose signals can be detected by smartphones and tablets.

Why retailers should use beacons?

  • Location data: the beacons can trigger a dedicated application on a smartphone or tablet to pinpoint a user’s exact location.
  • Personalization: from the location data, the application can deliver personalized and contextually relevant content.
  • Analytics: all interactions are logged and recorded to provide businesses with a weath of micro-location based analytics.

The beacons can help retailers get:

  • 16x greater in-store app usage
  • 19x more shopper interactions
  • 7x more likely to seek out a product on the shelf
  • 6x more likely to keep the app
  • 45% increase in interactions with products

Source @smartinsights.com

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