Every so often, consumer sentiment completely changes. Styles that were popular one year might be completely out the next. Merchants have to keep up with the latest styles and provide patrons with what they want to succeed.
According to a recent IBM study, though styles like preppy and punk have been popular with shoppers lately, 2013 is set to see a complete 180 degree turn. The “steampunk” look will likely be in this year. This appearance is based on styles from the Victorian era.
IBM found that retailers can keep up with this type of change in sentiment by monitoring social media sites, perusing blogs within their industry and listening to what kind of local events are popular, like the NYC ComicCon.
“Smart retailers are using social analytics to better understand, predict and shape consumer demand for ‘must-have’ products before a particular trend gets saturated in the marketplace,” IBM consumer products expert Trevor Davis explained.
Another thing retailers must do is ensure they rely on the best infrastructure possible to deal with these consumer sentiment changes. Choosing tried and true methods of keeping up with payment trends, like providing online credit card processing machines, are practices that will ensure continuity for nearly any business.Back To Blog