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2© 2014 RICS Software – Proprietary and Confidential
THE FUTURE OF RETAIL
Independent retailers have more to manage than e...
“BUY LOCAL” IS BIG.
SO IS TECHNOLOGY.
1
4© 2014 RICS Software – Proprietary and Confidential
The “buy local” movement gained momentum in
2014 and will continue to...
5© 2014 RICS Software – Proprietary and Confidential
USE IT.
With the rise of accessible retail technology,
small and mid-...
“The ability to see turns by item,
class, etc. is very powerful.”
Andy Tesane, Owner, Two Bostons pet supply boutique
OMNICHANNEL
IS THE NEW NORM.
GET ON BOARD.
2
8© 2014 RICS Software – Proprietary and Confidential
The typical 2015 consumer’s thought process goes
something like: “I w...
9© 2014 RICS Software – Proprietary and Confidential
HERE’S A TIP:
SO HOW DO YOU HANDLE IT?
Figure out the right form of o...
“In the scarcity economy,
success meant selling your
brand’s products at a value.
In the new abundance
economy, your brand...
3IN 2015, A POSITIVE IN-STORE
EXPERIENCE IS CRUCIAL.
CUSTOMERS NEED A REASON
TO BUY FROM YOU.
12© 2014 RICS Software – Proprietary and Confidential
With all the modern purchasing options available
to consumers, it’s ...
13© 2014 RICS Software – Proprietary and Confidential
By creating a welcoming, positive environment in
which customers are...
“You can do promotions and marketing
gimmicks until the cows come home but
if you haven’t done all you can to convert
thos...
PERSONALIZATION AND
CUSTOMIZATION AREN’T
ADDED BENEFITS ANYMORE.
THEY’RE ESSENTIAL.
4
16© 2014 RICS Software – Proprietary and Confidential
• Collect all the customer data you can get.
• Use this data to pers...
“It’s hard to remember everything.
Tracking customer information
allows us to build relationships
without having to rememb...
LOYALTY CARDS ARE
GOOD. PERSONALIZED
OFFERS ARE BETTER.
5
19© 2014 RICS Software – Proprietary and Confidential
Loyalty programs for frequent buyers have
dominated the customer rel...
20© 2014 RICS Software – Proprietary and Confidential
Use retail data to personalize coupons and
promotions.
For example, ...
“Ask yourself: What’s happening in
my community, in my category and in
my channel? What pain or friction are
my shoppers d...
DON’T BE EGOCENTRIC.
IT’S NOT ABOUT YOU; IT’S
ABOUT YOUR CUSTOMERS.
6
23© 2014 RICS Software – Proprietary and Confidential
RETAIL IS CONSUMER-DRIVEN.
Think of your customers first, and they’l...
“Consumers don’t care about tags
like ‘omni’ – what they care about
is being able to purchase the
products they are lookin...
THANK YOU
ricssoftware.com
Retail Trends Report 2015
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Retail Trends Report 2015

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Independent retailers have more to manage than ever: demanding customers, increased competition, large amounts of data... it can get a little overwhelming.

Luckily, we can help.

Read on for 2015 trends and ways to navigate and thrive within the ever-changing retail environment

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Retail Trends Report 2015

  1. 1. 2© 2014 RICS Software – Proprietary and Confidential THE FUTURE OF RETAIL Independent retailers have more to manage than ever: demanding customers with personalized needs, copious amounts of data to sort through, and the pressure to be “omnichannel”, frantically competing with big-box stores and eCommerce giants by selling products on as many channels as possible. It can get a little overwhelming. Luckily, there are ways to handle and thrive in the ever-changing retail environment. We’re here to point out the major trends of 2015 and show you how to navigate them.
  2. 2. “BUY LOCAL” IS BIG. SO IS TECHNOLOGY. 1
  3. 3. 4© 2014 RICS Software – Proprietary and Confidential The “buy local” movement gained momentum in 2014 and will continue to grow in 2015. That’s good news for independent retailers. Not only are these stores popular, but owners have a secret weapon: technology.
  4. 4. 5© 2014 RICS Software – Proprietary and Confidential USE IT. With the rise of accessible retail technology, small and mid-size retailers are empowered to use data to make decisions that drive their business forward.
  5. 5. “The ability to see turns by item, class, etc. is very powerful.” Andy Tesane, Owner, Two Bostons pet supply boutique
  6. 6. OMNICHANNEL IS THE NEW NORM. GET ON BOARD. 2
  7. 7. 8© 2014 RICS Software – Proprietary and Confidential The typical 2015 consumer’s thought process goes something like: “I want what I want, when I want it, where I want it, in the way I want to buy it.” Okay, maybe that’s a bit of an exaggeration, but we’re probably not that far off the mark…
  8. 8. 9© 2014 RICS Software – Proprietary and Confidential HERE’S A TIP: SO HOW DO YOU HANDLE IT? Figure out the right form of omnichannel for you. If that means building and maintaining an eCommerce site, great. Just make sure you’re not opening a web store “just to have one.” 2015 is about smart retail.
  9. 9. “In the scarcity economy, success meant selling your brand’s products at a value. In the new abundance economy, your brand’s values are the product.” Doug Stephens, @RetailProphet
  10. 10. 3IN 2015, A POSITIVE IN-STORE EXPERIENCE IS CRUCIAL. CUSTOMERS NEED A REASON TO BUY FROM YOU.
  11. 11. 12© 2014 RICS Software – Proprietary and Confidential With all the modern purchasing options available to consumers, it’s easy for small retailers to get passed over in favor of big-box stores. Don’t let this happen to you.
  12. 12. 13© 2014 RICS Software – Proprietary and Confidential By creating a welcoming, positive environment in which customers are easily able to get the products they want and the help they need, you create a competitive advantage to being an independent retailer. Build and emphasize these relationships with your customer base using the tools at your disposal.
  13. 13. “You can do promotions and marketing gimmicks until the cows come home but if you haven’t done all you can to convert those customers who are in your four walls – the only place you can truly affect your sales – from lookers to buyers, then you are like a poor marksman constantly missing the target.” Bob Phibbs, @TheRetailDoctor
  14. 14. PERSONALIZATION AND CUSTOMIZATION AREN’T ADDED BENEFITS ANYMORE. THEY’RE ESSENTIAL. 4
  15. 15. 16© 2014 RICS Software – Proprietary and Confidential • Collect all the customer data you can get. • Use this data to personalize marketing campaigns that drive traffic into your store. • Use your retail technology to keep track of customer purchase history. • Arm your salespeople with this data so they can keep track of past purchases and build personal relationships with customers.
  16. 16. “It’s hard to remember everything. Tracking customer information allows us to build relationships without having to remember all the details ourselves. It’s amazing what that can do to drive sales.” Linda Shikany, Owner, Marigold Clothing
  17. 17. LOYALTY CARDS ARE GOOD. PERSONALIZED OFFERS ARE BETTER. 5
  18. 18. 19© 2014 RICS Software – Proprietary and Confidential Loyalty programs for frequent buyers have dominated the customer relationship management landscape in retail. You can’t settle for one general plan anymore. Customers expect personalization, so make it work for them.
  19. 19. 20© 2014 RICS Software – Proprietary and Confidential Use retail data to personalize coupons and promotions. For example, run a report to find your Top 250 spenders in a certain area of your store. Then, send them a coupon for items within that area.
  20. 20. “Ask yourself: What’s happening in my community, in my category and in my channel? What pain or friction are my shoppers dealing with right now? What can I do to ease it or just make them happier? And how will this lead to them choosing our store?” Laura Davis-Taylor, SVP of Omnichannel Experience, The Integer Group
  21. 21. DON’T BE EGOCENTRIC. IT’S NOT ABOUT YOU; IT’S ABOUT YOUR CUSTOMERS. 6
  22. 22. 23© 2014 RICS Software – Proprietary and Confidential RETAIL IS CONSUMER-DRIVEN. Think of your customers first, and they’ll reward you for it with their hard-earned business.
  23. 23. “Consumers don’t care about tags like ‘omni’ – what they care about is being able to purchase the products they are looking for on their own time, from anywhere, on any device.” Jason Becker, COO, RICS Software
  24. 24. THANK YOU ricssoftware.com

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