By: Christina Nguyen
As the world continues to recover from the pandemic, more and more of us are feeling comfortable enough to conquer those in-person shopping sprees of 2019, reuniting with our favorite (hopefully sanitized) brick-and-mortar stores. Unsurprisingly, in-person retail has seen some growth and changes throughout 2021.
However, this doesn’t mean we’re going back to the same scenes of 2019 – retail is evolving, powered by 2020’s digital initiatives catalyzed by the pandemic. In case you didn’t notice, the pandemic accelerated digital innovation by several years.
As of late 2021, here are some ways retail has been evolving and what you should expect to see more of in 2022 online and in stores.
Augmented reality.
Just turn on your camera and augmented reality (AR) apps will put clothes on your body or products on your living room floor! AR came into prominence in 2020, when lockdowns prevented us from trying on clothes in stores and examining products with our possibly-infected hands; augmented reality stepped in to fill in some of the gaps.
This was a life-changer for several fashion brands such as Louis Vuitton and Ralph Lauren in particular since 48% of consumers are turned off from online clothes shopping because they can’t take the clothes to a dressing room.
Shoppable posts.
Nearly half of the younger generations have bought products directly off social media posts. It’s pretty expected, given how aesthetic a lot of social media marketing is. Some of your products also look more appealing when they’re literally in the hands of their favorite social media influencers, inspiring a click directly from the customer’s Instagram feed. With shoppable content, users don’t need to leave their social media app to search up and purchase a product, making shopping ultra-convenient and the product less forgettable.
A strong e-commerce platform.
E-commerce unsurprisingly dominated shopping during the pandemic, growing by 20%. But even as the world becomes safe enough to venture in stores again, the convenience of e-commerce has been thoroughly absorbed by consumers. That’s why e-commerce is still growing this year and is likely to continue on that trajectory into 2022.
If you didn’t jump aboard the e-commerce ship already, now is the time to make sure you’ve got a solid, user-friendly, detailed e-commerce platform. That way your customers can peruse your products and services from the comfort of home. If you don’t think you have the resources for this, consider hiring a business development, software development, or marketing agency that’ll hook you up with the appropriate developers and designers.
Sustainability.
This should be a staple rather than a trend, but we’ll mention it anyway since it’s on the rise. You’ve probably seen more companies mention how their products were produced under fair-trade conditions or using natural and/or recyclable materials. Nowadays, consumers are more concerned with what’s happening behind the scenes of their products and services, with 41% of consumers preferring to buy sustainable products. 45% will pay more for sustainability and 51% prefer companies with values that match their own.
Diversity and inclusion.
Just like sustainability, this one should have always been a key part of your business foundation. If not, it’s time to take a critical look at your hiring practices, how your employees are treated, and how your customers are treated. What are the demographics of your customers? Can they see themselves in your marketing?
Over three-quarters of employees state that diversity in a workplace is essential, leading to 79% of companies pledging to increase spending on it in 2022. This can include workshops on unconscious biases to presentations on typical office microaggressions.
Virtual reality.
While augmented reality can put a product in your home or on your body, virtual reality can virtually take you to the store or showroom. For example, you can move around the virtual showroom and even ask a virtual staff member for help! Car brand Kia currently has a simple virtual showroom that allows visitors to explore their models from the comfort of home.
Real estate companies have used this to take prospective customers on a tour virtually. This is incredibly convenient if you have customers who’d really like a look inside, but don’t have the time to shell out a flight ticket to your physical location.
What are some ways you’ve noticed retail evolving? Let us know in the comments below!
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About Stingray Advisory Group LLC: Stingray Advisory Group LLC is based in Grand Rapids, Michigan and is a proud member of Local First and the West Michigan Hispanic Chamber of Commerce. We help small businesses grow by providing guidance in financial planning, website development, marketing, and more.
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