The people who once went to the electricity board or telecommunication company to make their payments, now do the same operation online through their personal laptops or mobile phones, the people who manually bought DVDs from different rental shops for movie nights now simply would turn up Netflix, those who went out to the courts to play badminton have now switched into play stations to play the same on their own and similarly, all those who went from store to store to shop for something now have shifted more on to the online purchasing.
If you look at anything that is in the business context and out of it, you could clearly see that the way it was done before has changed due to several macro environmental changes in terms of technology, politics, society, economy and different other trends arising out of natural environment. This has resulted in fluctuations in the business to peak or optimize on opportunities and some have even become the reason for the close down of certain companies. However, this read will bring you the ways how retail industry has changed when comparing its past with present conduct.
Most people own a smart phone these days and there are so many applications that optimize the usage of customers. Phones replaced people from travelling physically to a store get information while smart phones made it even more convenient by enabling customers to simply make orders even without making a single call. Most customers now will look up on different stores, see their locations and contacts if they want to get some direct responses and it will be a disadvantage to those companies who have not incorporated maps and other services to their site.
Even back in the day, people preferred to buy something with more confidence if anyone of their friends or family recommended them on a certain purchase. It’s still true and coming out stronger today where people will look up social media reviews and see the kind of comments that different YouTubers have given on certain products prior to purchase. Therefore now retail companies must be up to keep their social view head strong.
Unlike the customers’ years ago, people are now well aware of what they want, the prevailing prices and the offers that each business offers to them. They can’t be fooled or tricked into buying something they are not worthy of. Therefore, the sale staff must also be kept well updated with information to cater to these clients.
These are some of the ways that people have shifted in their preference and behaviour and how it had made an impact on the businesses today.