The 2 Hottest Trends That Will Sky Rocket Your Retail Sales
2012 is in full swing, and according to latest research from the Aberdeen Group, retail organizations are stepping up their game this year. It’s essential that organizations keep up with customer demands, and with today's evolving technology, mobility and analytics continue to be the top two trends driving retail best-practices.
Mobility. Think about it, do you ever leave your house without your cell phone? People are glued to their iPhones, iPads, Androids and BlackBerrys, and research shows that customers want to use them with their shopping experience. With technology innovations like PayPal and the Google Wallet app, paying with a mobile phone is gradually becoming a reality. Retailers need to meet these mobile needs if they want to stay ahead of their competitors.
For example, Neimen Marcus just launched a mobile app that directly connects shoppers with their preferred sales associates. Customers can mark favorite items as they walk through the store, which is then sent to sales associates. Talk about great customer service! Mobility isn’t going away, and retailers must embrace it to satisfy customers and be successful in their industries.
Analytics. In continuing to satisfy customers, retailers need to empower their associates to understand and connect with what customers want and need in the future. To do this, predictive analytics are necessary. Organizations are looking at what customers are doing both inside and outside of the store, what promotions work and what the best merchandising allocations are. Using analytics, retailers can find ways to make shopping experiences more efficient and valuable for their customers.
In addition to mobile solutions and analytics, talent management plays a huge role in organizational and business success, especially in retail environments. The alignment of talent mangement and business strategy is key, but unfortunately this area is lacking. According to Aberdeen’s 2012 Human Capital Management Report, best-in-class organizations are 30% more likely than their average and laggard peers to ensure talent alignment. So to be a top organization, having an effective talent and employee strategy needs to be a priority as well!
For more insight into successful talent management trends, read the complete 2012 Aberdeen Human Capital Management Report.
What are your thoughts on Aberdeen's latest research? Do you have any additional best practices? Leave us a comment below or share with us on Facebook and Twitter (#ProfilesBlog).