Retail Marketing

   By: Shannon Crilley

      The world of retail is changing as our society becomes more and more dependent on technology and trying to receive goods in the easiest and fastest way possible. For those in the marketing field trying to promote retail products, they have to be three steps ahead of the customer and of any changes that may happen due to technology and consumer expectations because of that. Retail marketing has always been an interest of mine so I was curious about all the changes being made and the new methods of marketing some companies have been trying out.

      After reading an online article from The Business Reporter, a European business newspaper, I learned that recently there have been some big changes in the field of retail marketing and what steps those working in the field have had to take in order to stay ahead of the game. According to this article, there are five big changes in retail lately that have shifted how marketers try to connect to customers while promoting their products all at the same time.

1) Consumers expect and demand hyperlocal experiences - This means that consumers want local goods. They ask their iPhone "whats the closest store to me" for convince. This has shifted marketing to focus on smaller, local markets rather than worldwide markets.

2) Technology giants are delivering against this expectation, ahead of everyone else - Over the past few months the big websites such as Google, Facebook, and Amazon have focused on local markets as well. 

3) Reputation management is going local - Recently smaller, more local companies have been strongly encouraging costumers to write reviews about their products in order to gain trust from the customers that might be use to only buying from major brand companies. The marketing teams of smaller companies are in charge of finding these ways to encourage customers to share their experience with the product they purchased, in order to gain more business.

4) The local search ecosystem is gaining in prominence - Google now lists local search results above organic responses. This is a game changer for businesses. Most consumers today don't like to take the time to scroll and research a certain product for too long, so if they can find what they want quickly and locally, they're sold. 

5) Increase in local media spending - Business marketers are realizing that their local stores are the ones that own the relationship with the customers and that those are who need to be nurtured in their media spending. 

      Markets are changing quickly! Consumers want fast and east transactions with companies and as a marketing major it's very interesting to see different trends arise and how companies manage to stay on top of them and change to meet the customers needs. 

"Local and Personal: The Future of Retail Marketing." Business Reporter. N.p. Web. 02 Feb. 2017.