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Top 6 Retail Trends That Will Continue in 2023

Brand Development

According to a study by McKinsey, 75% of consumers who adopted a new shopping behavior during the COVID-19 outbreak plan to stick with it post-pandemic.

In fact, there was a 40% to 60% increase in intent to continue buying goods online. eCommerce sales in the U.S. also hit a whopping $870 billion in 2021, a 50.5% increase over 2019.

For your business to thrive, you need to stay on top of the latest channels customers are using to shop.  You should also be able to shift and adapt quickly to any changes in the retail industry and optimize your business for Miami SEO.  

In this article, our experts will share the top six retail trends you should focus on and incorporate into your growth strategy to boost retail sales and achieve growth in the next decade.  

Top Six Retail Industry Trends to Boost Your Business Growth in 2023

1. Elevate Your In-Store Shopping Experience

Customer happy shopping in-store.

Online shopping is the trend nowadays, but that doesn’t mean you should completely ignore your physical store. Brick and mortar stores remain to be an integral part in the overall shopping experience for customers.  

This 2023, you want to focus on making your store safer to shop. It means having a better product warranty and return policy in place and using technology to provide check-out-free and touch-free shopping.  

Here are some tips to help retail businesses like you you provide a better in-store customer experience:

  • Consider undergoing a system redesign to accommodate a more streamlined customer interaction with lesser physical exchanges.  
  • Offer mobile payment systems, such as PayPal, Venmo, Apple Pay, and many more.  
  • Use augmented and virtual reality to improve your product displays and provide a more heightened “try-on” experience. Allow customers to visualize themselves buying your products and the lifestyle that comes with your brand.

Remember, don't focus too much on the technology itself. Don’t just dump a computer screen in the middle of your store. It’s still important to engage and assist your customers. Instead, focus on how you can improve your customers' in-store shopping experience using technology.

People go to physical stores because they want the experience of going to a shop and picking out items they like. They want to be able to say “Oh, I like this. Do you have it in other colors?”. If you don’t, technology comes in to assist them.  

2. Restructure Your Store Portfolio

Given the rising cost of goods, restricted income, intense online competition, and other factors, it’s tempting to focus on trying to “save” 2022. However, if you want your business to thrive, you need to make 2023 a growth year, not a year to “make up” for what was lost.

According to new research by analysts at Goldman Sachs, household cash flow will begin growing again after Christmas. This will lead to an increase of about $600 or 4.2% in household discretionary cash flow.  

This is good news for your retail business, after a yearlong struggle to keep your company afloat because of recession and inflation.  

However, the study also indicated that big box retail stores will most likely benefit the most from these gains. Stay competitive and increase your online sales by optimizing your business for Miami SEO to ensure that your goods appear first when customers search for them online.  

It’s also important to have a digital marketing strategy in place to boost your online presence and engage customers.

Going back to making 2023 a growth year, experts don’t recommend that you focus on expanding your retail store. Instead, they believe that doing the following will propel your small business forward:

  • Be proactive in providing customers with the ultimate shopping experience, meeting them where and how they want to be met, advancing your marketing strategies, and providing customer service that exceeds their expectations.
  • Provide consumers with predictable, consistent, and relatable communication. Keep in touch with them post-purchase through multiple channels in and out of the digital world. Make sure they have a satisfying last-mile delivery experience by giving them real-time updates about the whereabouts of their orders.  
  • Give expert advice that your customers can gain insights from. This helps you build trust and cultivate loyalty.  

3. Adopt New Channels

eCommerce website optimized for Miami SEO.

According to Vedic Consulting, more sales will be made via mobile compared to desktop PCs in 2023.  

Now that broadband connections are faster than ever and 5G already a reality, you need to look into couch commerce and find ways to make customers' experience of buying from their own couch convenient and enjoyable.  Many retailers have been doing it for quite some time now.

People want to be able to buy what they want whenever they want, and smartphones play a crucial part in this.

Make sure you optimize your retail business for couch commerce by creating an app, optimizing your site for mobile, and adopting new channels.  This will make selling online an easier task.

You want to make it incredibly easy for consumers to seek personal shopping advice, compare prices, search for reviews, look for inspiration on social media, check product availability, receive personalized offers, and checkout without friction!

4. Implement Same-Day Delivery

Two out of three shoppers prefer their orders to be delivered when shopping online. 56% of online shoppers between the age of 18-34 expect to have same-day delivery options, and 61% of consumers are willing to pay more just to have their items delivered on the same day.  

This proves that people want to get hold of the items they shopped online as quickly as possible.  Unfortunately, only 51% of retailers offer same-day deliveries.  

If you want to stand out this 2023 and meet customer expectations, consider adding same-day delivery options to customers.  

Remember that you’re closer to the customers in your area compared to other big eCommerce players. Take advantage of this by optimizing your business for local SEO in Miami and targeting people who are near you.  

Since you can get products to them faster, they’ll most likely opt for your same-day delivery services!

5. Explore Social Commerce

Social commerce is helping a lot of physical retail stores thrive and stay competitive. 75% of retailers are now selling on social media. Moreover, 43% of retailers who sell on social platforms also say that half or more of their profit comes from social media sales.  

If you haven’t tried out creating shoppable posts, live selling, and setting up a TikTok shop, 2023 is the best time to get started!  

Being on social media allows you to reach more customers and boost your sales, especially now that people are more glued than ever to their devices.

6. Create Interactive Retail Experiences with Augmented Reality and Virtual Reality

Augmented reality in retail shopping and marketing.

Instead of just using static images and videos to help consumers make informed decisions, consider using VR and AR to provide a richer and more delightful virtual shopping experience.  

Unfortunately, only 1% of retailers are currently using AR and VR.  

AR and VR are more accessible than you think. It can be as simple as creating an Instagram filter to let people try out your latest collection of shoes or lipsticks just like what Kylie Cosmetics did to promote their product line.  

Doing something as simple as this is going to help customers experience your products and convince them to buy them.  

Here are some ideas on how you can use AR and VR in retails:

  • Put QR codes on your products to allow customers to scan them and view information about how and where it's being made.  
  • Allow customers to visualize themselves using your products and pick out what’s best for them through a filter on social media platforms or through your app.

Take Your Retail Business to The Next Level with Miami SEO!

These are the top retail trends you want to be mindful of as you plan your marketing and growth strategy for next year.  

To stand out and stay competitive, focus on providing an elevated in-store shopping experience, being proactive in your communication, adopting new channels, exploring social commerce, offering same-day delivery, and using AR and VR to be more customer-centric in your marketing efforts next year.  

At Digital Resource, our SEO specialists in Miami and digital marketing experts will work with you to create a custom marketing plan that will propel your retail business forward and boost your sales next year.  

Want to get more sales online and watch your business grow exponentially? We can help! Contact us today to get started!

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