The 2021 trends influencing NZ’s retail resurgence
Gordana Redzovski delivers some 2021 trend advice for New Zealand’s remarkably resilient retail business owners – to help them succeed in the evolving Covid-hit retail landscape. While 2020 wasn’t as profound for New Zealand as it was globally, the arrival of 2021, and its promise of bigger, brighter and bolder, will still be welcomed by […]
Gordana Redzovski delivers some 2021 trend advice for New Zealand’s remarkably resilient retail business owners – to help them succeed in the evolving Covid-hit retail landscape.
While 2020 wasn’t as profound for New Zealand as it was globally, the arrival of 2021, and its promise of bigger, brighter and bolder, will still be welcomed by many. That’s certainly the case for a local retail industry that’ll be eager to turn 2020 recovery into 2021 growth.
Despite the comparative success New Zealand has had getting to, and maintaining, ‘post-Covid normal’, success in an evolving and uncertain time is by no means a foregone conclusion. It’s dependent on not only innovation and delightful retail experience, but on identifying the trends that will define this year, and how retailers can capitalise on them.
From the ‘love local’ movement to emerging technologies, here are some of the trends New Zealand’s resolute dynamic retailers should be aware of this year.
Pandemic trends are here to stay
The pandemic has accelerated technologies and trends that allow customers to shop safely. For example, ‘click and collect’ and curbside pickup, and contactless and mobile payments all surged as shoppers prioritised safety and convenience. Significantly, they’re trends that are here to stay. Consider ‘click and collect’. It’s not only convenient for shoppers, but an opportunity for retailers to upsell. Indeed, studies find that between 50-70% of New Zealand shoppers purchase additional products when collecting an online order in-store.
Similarly, the pandemic has made people more cautious about handling cash, so ensure you accept multiple forms of payments, including Apple and Android Pay, and ‘buy now, pay later’ solutions.
With these trends here to stay, it’s important for retailers to implement them and use them as an additional foundation to enhance their delightful omnichannel retail strategy.
The rise of loyalty marketing
By delighting shoppers, you can increase loyalty – a crucial competitive advantage in 2021. To do so, you must demonstrate to customers that they’re a valued part of your business not a dispensable commodity. So look at your customer data: What are they buying, how and when? Where are they from? What channels do they use? With these insights, segment your customers and create tailored marketing strategies. By being strategic and targeted with ‘how, when and where’ you engage with different segments, you can provide the meaningful experiences that shoppers crave.
New Zealand proud
New Zealand is proud of New Zealanders, and this is certainly the case in the business community, with a strong and engaged #ShopLocal movement. To cater to that demand, it’s important to feel local and be active within the community. Promote yourself within your neighbourhood; invest in campaigns that fuel the shop local movement or partner with non-competing businesses (like a coffee shop or bar) to expand your reach. Be proud of your roots, motivations and story. After all, if shoppers feel like they know your brand personally, their affinity to it will strengthen.
Being active locally transcends the high street, though, and must be considered online too. Today, 90% of global shoppers search online before visiting a store. So, populate a Google My Business profile with your contact details, store hours and other pertinent information. Encouraging your customers to leave reviews and adding photos of your store, products and friendly staff will give your business a #ShopLocal boost in 2021.
Cater to intentional consumers
Consumers are less spontaneous and more intentional with their purchasing preferences. Research finds that not only are consumers planning store visits in advance online, two-thirds say their shopping decisions are planned, not spontaneous. Therefore, it’s crucial that your brand is active in the ‘research phase’ of your customer journeys, using an omnichannel to take your shop front online. Understand how, where and why they shop and tailor your approach appropriately. For example, solutions like Pointy from Google allow you to list in-store products online, so customers can see what’s available before heading to your store. Pointy integrates with POS systems like Vend, and helps engage shoppers long before they visit your store.
Compelling content is gold dust
In a saturated industry, creative, compelling content is gold dust. Producing content that truly resonates is one of the best ways to not only keep existing shoppers engaged, but acquire new ones. First, use customer insights to understand what will resonate. Knowing their challenges, preferences and interest will help you devise a suitable tone and strategy. Equally important is knowing what platforms to use. Instagram and TikTok are becoming more ingrained in retail on a near-weekly basis – especially for young shoppers – so could be a great avenue to approach this year.
With New Zealand’s success reaching post-pandemic normality as the foundation, the local retail industry can thrive in 2021. By being aware of these trends and how your business can utilise them, New Zealand can lead by example and establish itself as a truly progressive market in the new and evolving retail landscape.
Gordana Redzovski (pictured below) is Vice President for APAC at Vend, the point of sale and retail management platform that lets retailers run their business in-store, online and on-the-go. For more information visit https://www.vendhq.com/