There are many types of retailers all around the world. It is considered one of the most promising career path because it offers opportunities and flexibility. This year, buying habit has shifted into eCommerce due to the global pandemic. More challenges appear in business field which also affect how retailers are going to work. However, technology does matter in helping small business retailers to navigate through this hard times and thrive.
Thriving with technology for small business retailers
Retail strategy is not ill-fated even during this gloomy time. Even with the situation with the global pandemic, the surveys show that most buyers choose to buy from small, independent local retailers. It means, small business retailers have big opportunities to navigate better. The key is to familiarize themselves with technology that can support them to make it work.
Be aware of the social awareness
Today, there has been growing movement of social awareness. Small business retailers can take advantage of this situation. This way, they can put their efforts so customers know that their values are aligned with the local retailers they trust. Staying relevant in local market is just as- if not more – important as diversifying revenue by reaching out new audiences through eCommerce.
Find ways to stay relevant
Retail entrepreneurs can use various strategies to stay relevant in local market while growing their revenue. For example, they can use digital ad geofencing. This is a strategy to reach local buyers by designing digital ad campaigns that target them based on their geographic location. Geofencing allow retailers to restrict their ads to be only seen to specific areas. This can benefit retailers in increasing traffic.
Personalization is key
Personalization is the next key retailers can take advantage by using technology. Customer data collection is essential especially when face-time with shoppers are so limited today. Personalizing marketing messaging can help retailer build connection more with buyers. Personalizing marketing messages can be in various ways. For example, using buyers’ birthday to give special offers. The data collection will also contain information regarding to buyers’ interests. It can be used to deliver more personalized service as well.
Track local customers’ shopping habits
Local customers’ shopping habits can be tracked using technology and retailers should take advantage of this. Retailers will be able to identify what customers like to buy or the hours of buyers tend to shop. This is valuable information to collect. With the right technology, this process is very possible. Modern retails need more actual data to be used as the base for making strategies. Data is the most important key for retailers to provide excellent service and buying experiences.
Try the AI programmes
AI-driven programmatic advertising is also technology retailers can fully take advantage of. It can target high-value demographics in their area. Even with limited advertising funds, small business retailers can still be able to maximize the effects. It might be a little difficult to navigate using this technology but it truly pays off when it is used properly. Continued recession is still possible in the next few months. However, small business retailers still have chance to survive and thrive using the right strategies.
Cecil Kuhn