As experts in the retail space, there’s nothing that Elizabeth Stiles and Therese Ortenblad don’t know about independently owned businesses growing their reputation, attracting customers, and converting sales. A couple of months ago they took to the RetailFest stage at Top Drawer to share 5 essential insights that retail brands need to consider within their 2022 brand strategy. 

Once you’ve learned what customers are thinking about below, be sure to watch Elizabeth and Therese’s full session to find out how you can successfully action them. 

1. Customer Mindset

The pandemic significantly shifted viewpoints on how and where consumers spend their money. Three of these shifts have resulted in seemingly permanent change within the industry:

1. Consumers will actively try to shop small if and when they can. If cost prohibits them from solely shopping small, they will still try to do so on meaningful occasions. They are wary of pricing, however, if they know that their money is supporting an individual or small team, they are happy to pay a bit more. 
   
   
2. Sustainability continues to sit at the top of the agenda, so brands should actively try to improve their environmental and ethical practices and be transparent. 
   
   
3. Shop owners and brands need to be more mindful of accessibility; consideration of the different needs people may have should be acknowledged and solutions found. 

2. Discovery

In this new landscape, both bricks and mortar and digital stores cannot count on footfall, unprompted discovery, and passive customers. They need to be proactive and find ways to position themselves as a destination. Rather than waiting for customers to come to them, retailers and brand owners need to show up in the places, both online and in-person, where your potential customers already are. 

3. Storytelling

The phrase ‘storytelling’ gets thrown around a lot when it comes to brand building and digital marketing, but what does it actually mean? Storytelling is, in a nutshell, making sure that every communications touchpoint is being used and aligned to guide your customers and make them feel more connected to your brand. 

4. Retail Theatre

Getting people off the sofa to shop is so important in today’s retail climate - but it takes more work! Customer service, in-store experiences, pop-ups, exclusives and, reminding customers of the instant gratification they can get from an in-store purchase is essential. Going the extra mile, recognising repeat customers and recognising your community’s support is the new definition of luxury in retail. 

5. Selling

Good news for people who get the ick from old-school selling approaches, as today it really is all about service first. Remember to prioritise the why over the what, and lead with knowledge and passion. Don’t forget that, even with a community approach, you as the business representative or retailer still sit at the top of that pyramid and it’s up to them to lead and guide. The most effective mindset shift you can employ when it comes to selling in today’s market is to reflect on how you shop as a shopper, rather than sell as a seller.