Modern-Day Retail Industry Forecasts

The global market always changes. This can be said with more certainty than the Earth continuing to spin. But how it changes and what will change is something that is as hard to predict as the weather. So for that, most people end up doing predictions and forecasts by analyzing the trends that have been going on for the last few years. The world is changing in its many phases and is revolving around the issues and of population and money. It has come down to the ages where the more money and technology one has, the more he or she will accomplish.

More payment options for the tech savvy

Apart from the traditional payment options of going to the cart and then putting your card information, the increasing technological inventions will make it possible to pay in easier manners. And the accelerating trend of making your own website and e-store or social media page, will make it easier for those who are on their portable devices to pay for their purchases from these sites.

PayPal recently rolled out their PayPal Here Chip Card Reader which is compatible with Android and iOS devices and will accept EMV and magnetic stripes cards for payments. It also takes in Apple Pay, Android Pay and Samsung Pay NFC payments. Apart from that you have Mercury that gives the retailer the required hardware to accept EMV cards and mobile-payments, and then there is Poynt which is a smart terminal that can take magnetic cards, NFC, QR codes and EMV payment options. So the times of going to the licensed money lender in times of hardship has gone by.

The dawn of click-n-collect

If you do not have cash with you and do not want to go to the licensed money lender to get easy cash, then you can use your phone and make the purchase. Click and collect is an initiatives that popped up a couple of years ago and is steadily becoming one of the favorites among customers. They can buy online and then collect the items from the store. This usually happened through the website on the computer but the mobile apps for the stores have become increasingly adapted to this system. Some stores have even added the option of letting the store know when you are nearby so an employee can actually bring you the items to your vehicle.

Due to customers using different pathways and websites and platforms to do their shopping, accumulating all the data has become an issue. And such, in the coming years, retailers are advised to collate their offline and online data both as to give accurate information of shopping habits.

Why Do You Need Good PR?

When you are the owner or the manager of a business, you are responsible for making sure that the output is an absolutely stellar product. However, in the world today, there isn’t enough planning or concentration being given over to the daily operation of a business and all of the processes that make it go smoothly. One of the biggest challenges for a business is to gain a reputation for itself in the target sector of the market. The usual way to do this is to have a PR campaign that is run by a department or an individual inside the company or a third party firm that specializes in offering these services. Having good press means that you and your company can overcome a whole range of challenges that would otherwise stump you, such as building customer and investor loyalty or making you more desirable to jobseekers.
Your Investors Will Be More Loyal
If you have a PR campaign that is very professional and well thought out, you aren’t going to struggle to impress your investors nearly as much as you otherwise would. A business plan is a great way to turn potential investors over to your way of thinking. However, having your company featured in a publication like Time magazine or Forbes will just about guarantee that investors will be interested in giving your plans a shot. Whether you are in the US or Singapore PR is going to be an essential part of your campaign to gain more and better press as well as better, more impressed investors. If you have been featured in multiple business related publications, it is going to be all the better for you.

More Client Turnover and Loyalty
One of the better parts about having a professional, successful PR campaign is that you get more customers. In most of the companies in Singapore PR is given high priority for a reason. The more publicity you get in a positive light, the more likely it is that people are going to want to work with your company to get the goods and services that they need. This is especially true if you don’t have too much fluff in your advertising. Because there are so many advertisements out there, people tend to automatically focus on the content and nothing more.
More new customers means more profits for you. In addition to this, your existing customer base is going to be a lot more loyal to you if you are a company that is constantly in some top tier business magazines and websites.