How Retailers Can Get in the Fast Lane in 2016

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2015 was a pretty incredible year for the retail industry. Futuristic technology came to fruition, and eCommerce jumped in popularity. As the retail industry gradually moves beyond the constraints of four walls, it’s clear that 2016 will welcome great strides in technology for consumers and retailers alike.

In our new infographic “Retail Predictions and Resolutions for 2016,” we examine how the retail tides could change in 2016, and what retailers can do to successfully go with the flow. We believe that data will determine the future of retail. As eCommerce grows and more consumers feel comfortable shopping online, there’s going to be a lot more customer data to use to your advantage.

So what should retailers do with this data? Well for one, they can successfully target shoppers on social media. Consumers are 29% more likely to make a purchase the same day when they use social media before shopping, so make sure you interact with your customer base to improve sales.

The Internet of Things will also see a massive rise in 2016. It could have an $11 trillion annual impact by 2025, further blurring the line between physical and digital in order to improve the shopping experience. Amazon’s dash buttons gained popularity in 2015, and we’re excited to see what else retailers deliver to consumers to simplify the shopping process and propel the Internet of Things even more into the limelight.

As the shopping process simplifies, it will also become more personalized. Thanks to customer data, retailers will be expected to offer personalized recommendations to consumers. Roughly 54% of consumers will share data if it provides them with a better experience online, and 48% of shoppers believe that brands should make spot-on recommendations. So if you haven’t started already, 2016 is the year to start data mining and improve your business.

There’s so much more retailers can do to improve their eCommerce presence in 2016, and we can help. Check out our free infographic below to learn how to get into the fast lane in 2016.

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Wiser provides a complete suite of solutions to give retailers, brands, and manufacturers the edge to stay both competitive and most importantly, profitable.Want to learn more about what Wiser can do for your business? Sign up for a 14-day trial here.

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Arie Shpanya

Arie is the COO, Executive Chairman, and Co-Founder of Wiser, a dynamic pricing and merchandising engine for online retailers and brands. He has extensive experience in business development with a focus on eCommerce (eBay and Amazon), and is a guest blogger on Econsultancy, VentureBeat, and more.