Posts on Apr 2018

Predicted Retail Trends in 2018

Five  important retail trends to look out for in 2018 were outlined in a recent report by Synchrony using data from a consumer survey carried out in January 2018.

As you would expect technology and AI featured heavily in the list, and here are the highlights below:

1. Voice Technology – 51% Shop Using a Smart Speaker

The report shows that 30 percent of consumers now own a voice-controlled device, and this is good news for retailers as consumers are using these devices to shop.  51 percent of these owners are shopping using a smart speaker.  Many retailers are also looking into ways to use voice technology coupled with AI, such as using purchase data to automatically order regularly purchased items.

2. The Car as a Connected Shopping Channel

It is expected that by 2020, 75% of new cars will be connected to the internet.  This will mean that drivers will be able to make purchases in advance from their car.  This is an exciting opportunity for retailers and many are already investing in location technology and the connected car is a great way to use location marketing to drive additional sales.

3. Using AI to Create Customized Shopping Experiences

Many companies are already exploring this technology.  A Gartner survey of  IT and Business Leaders carried out in March 2017 found that over half of those taking part in the  study expect to be using machine learning within the next three years.

Retailers are exploring AI in connection with personalization, as studies have shown that 51% of shoppers said that receiving a relevant offer from a retailer would make them more likely to shop there more often.

Retailers are also exploring more ways to use machine learning for automating customer offers based on past behavior, managing stock and inventory levels, and personalizing offers, and gifts.

4. Retail Mobile Apps

The Synchrony Study revealed that 63 percent of those in the US, and 81 percent of Millennials, have downloaded a retailer mobile app and the time spent shopping with a retailer mobile app is on the rise.

Retailers have a perfect opportunity to find out more about customers shopping habits and preferences with an app, and are able to present further relevant information and offers through the app, and shoppers love apps because they have access to more offers and the ability to purchase items quickly.

5. Social Responsibility

Shoppers love shopping at retailers that share their values and some shoppers have said they will even stop shopping at a store that is at odds with their beliefs.  In response to this many retailers are donating to charities or disaster relief, or working with a group to help achieve their core beliefs.

So there are many considerations for retailers to take into account over the coming year, as consumers embrace technology and information in innovative ways to change the way they shop.

 

 

 

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Pre-Orders for Woocommerce Stores

If you sell a product that is something your customers anticipate and can’t wait to purchase as soon as it hits the stores, then offering the ability to pre-order is a great way to attract new customers and entice existing customers back to your store.

The xocbox pre-order module was designed with your Woocommerce store in mind.  Unlike some of the pre-order plugins that are available, the xocbox module has the advantage of allowing customers to shop in the normal way and add items to their shopping cart, and also add pre-order items to the same cart.

When it’s time to checkout the whole amount of the cart is authorized, but only the available items are charged to the customer, and shipped.

When the pre-order items arrive in your store, funds are collected from those who have pre-ordered, and the items are shipped to them together with their tracking information.

This year  we worked with a publisher who added the pre-order module to their book store, and it has been a great hit with their customers.    They offer titles as ebooks, print books, or a combination of print and ebook.

As new titles are prepared for sale, they can keep in touch with customers and update them on pre-order dates and publication dates for both ebooks and print books, and their customers are then the first to receive new titles they are interested in.

xocbox worked with the publisher to create custom product pages and messages on their website, and also create custom email messages for each stage of the pre-order process.

Pre-orders are a great addition to any store that sells new and seasonal products where the store owner can predict the product arrival date in their store.

Books, games, electronics and fashion items are perfect products for pre-order, and enable you to keep in touch with past customers to let them know of new products they may like, and be the first to receive.

If you would like to learn more about the xocbox pre-order module, call 858-752-3803, or read more here.

xocbox Pre-Order Module

 

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