Top 3: Retail Consumer Trends for 2012 and their Effects on Retailers

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What are the best practices for retailers in 2012? Well, it all starts with the consumer. Check out the top 3 consumer trends for 2012 and see how they will effect you...

1. Consumers increasingly want custom tailored and more personalization: They are interested in products with their own style and taste.

What does this mean for retailers? A study conducted by RSR Research examines the state of personalization in customer communications today, and where retailers are heading in the future. The biggest challenge that retailers currently face, is understanding the needs and wants of a “post-recession” consumer.

2. Cross Channel Commerce: Because of Internet, consumers are becoming better informed about prices and products. They want more products at any time and through any channel.

What does this mean for retailers? With consumers shopping anywhere and anytime they want, retailers must provide a consistent brand and shopping experience across each of its channels. The customer should get a consistent message and service level at each consumer interaction.

3. The Super Digital Consumer: The Internet has helped consumers by allowing them to be more informed and helping them to decide on their purchases based on reviews, forums and social media.

What does this mean for retailers? All consumers are becoming increasingly sophisticated at multichannel shopping. Retailers need to better align their business operating models with consumer sophistication and experience.

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