The COVID-19 pandemic, which broke out at the end of 2019, has become a test for all businesses, including beauty. Retail was one of the first areas that had to hastily change their strategies and look for new approaches and tools in order not to lose customers. In this article, we will look at the most promising trends in modern retail, which will help you not only to retain old customers but also to attract new ones.
The digital transformation of retail has been going on for many years. The changes that have taken place in the sphere due to digitalization have increased the speed, efficiency, and accuracy of all retail business processes. At the same time, artificial intelligence (AI) formed the basis of many ideas that allowed increasing these indicators.
Today, AI provides businesses with high-quality data that helps companies make the right decisions, constantly improve their operations and find new opportunities.
Personalization in retail is the process of creating a unique path for each customer throughout the entire cycle of interaction with him. To build it, historical data (for example, what other customers bought together with the selected product) and personal data, as well as product and customer analytics are used. The main goal of this approach is to make the customer feel like a super special customer, thereby strengthening their loyalty and improving the customer experience.
Promotion through influencers
Instagram, YouTube, TikTok, and Facebook have long ceased to be just social networks for communicating with friends and colleagues and have become serious platforms for promoting brands and products. That is why retail needs to interact with influencers who can influence buying habits.