Four Trends for Retail Brands in 2021

As we begin 2021 and prepare for a new year ahead, I've been staying informed of the way the retail landscape is evolving.

In today's post, I've listed four key trends we'll be paying attention to this year. ‍ But first, let's take a moment to acknowledge that the world changed pretty quickly in 2020. Here are a few interesting stats I've come across:

The world of e-commerce retail is growing and so are the opportunities to evolve along with our changing world. These are four trends I'll be paying attention to in 2021.

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Trend 1: Video Content is Increasingly Important

92% of marketers said that video content is an important part of their marketing strategy.

Where can you engage your audience with video content?
1. A professional quality brand video
2. Video testimonials from your customers
3. Candid social media video content: Instagram (IGTV, Stories & Reels), Tiktok and a YouTube channel.

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TikTok is an important opportunity with over 1 billion monthly active users, and the average age is climbing. 67% of TikTok Users are over the age of 20 and 38% are over the age of 30. Read more about TikTok stats in 2021 here.

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Trend 2: An Omnichannel Strategy is a Must
To capitalize on the e-commerce boom, optimize commerce across channels like online marketplaces, social media, retail, and wholesale. - Shopify, The Future of E-Commerce

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With mobile shopping taking over, 73% of e-commerce sales will take place on a mobile device by the end of 2021.

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Selling channels to consider, aside from an e-commerce website.
- New-gen curated marketplaces like The Fascination and Bulletin
- Selling directly through influencers and ambassadors
- Facebook and Instagram shops

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Trend 3: Humanizing Your Brand is Key
Tell your target audience members stories that they can relate to, instead of simply presenting your brand as perfect. - Entrepreneur

Customers are not interested in receiving recommendations that are relevant to people similar to themselves, they want to receive recommendations that are relevant to them, personally. -CMS Wire

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Some ways to humanize your brand and create a more personal connection with your customers:
1. Be authentic: have a sense of humor and put your team members in the spotlight.
2. Make the customer experience more personalized: understand your customers through data to create unique customer journeys.
3. Use original photography instead of stock photos to show how you’re unique. In addition to professional photography, try adding behind the scenes footage, a vlog-style day in the life at your brand, or show your audience how your product is made.
4. Engage with your audience on social media: reply to comments and use conversation starters to ask for their thoughts and feedback.

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Trend 4: Let's Get Virtual
Many retailers are now taking advantage of virtual try-on instead of an in-store experience.

Interactions with products having AR content showed a 94% higher conversion rate than products without AR. -Harvard Business Review

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Want to make augmented reality...an actual reality for your business? Here are some resources to make it happen.
1. For jewelry brands: TRYON Jewelry
2. For beauty brands: YouCam Makeup
3. For other product types and general use: AR on the app store