The always competitive retail market has drastically changed over the past 10 years and small businesses like Wildfox Home are always working hard to adapt.
I will not lie to you folks. Retail is a REALLY tough game especially since we have had to endure the economic uncertainty of Brexit over the past 3+ years.
However, according to Retail Technology Innovation Hub, there are some key retail trends that are set to happen over the next 12 months. I have listed below what you can expect these changes to be and how my online homeware business will be embracing them.
The Human touch
I will confess to using Amazon as they are king when it comes to speed to convenience. However, when you want to talk to someone at this retail giant it is almost impossible to interact with a human being. It is, for want of a better description, a very robotic and unemotional experience.
Now, I have always made a point of interacting with everyone who visits and comments on our social media sites or gets in touch via the website. I very much enjoy the conversations, connections and interactions we have, and this will continue strongly for 2020. As the new brand range grows and expands, I will be inviting my followers to help more with shaping the product development and service that Wildfox Home offers.
In the past, my behind the scenes videos have been very popular, and I will aim to film more of them so you can see the human being behind the business.
It’s not just online, its offline too.
Wildfox Home is what I would consider to be predominantly an online shop. Yes, it provides the convenience of shopping for a homeware gift whilst still in your pyjamas. However, there is nothing like seeing and touching products for real.
For 2020, Wildfox Home will be attending more major shopping events for you to come along and experience our homeware products. There is nothing like meeting new and existing customers and creating meaningful relationships. It’s a wonderful experience for me when customers chat and engage. I do enjoy hearing all the stories about why customers are drawn to our products, whether they are purchasing for themselves or as a gift and their reasons why. It’s quite humbling when one of our designed products is purchased and goes off to a new home.
Find Wildfox Home at an event near you this year by visiting our Calendar of Events page.
Digital Wallet Technology.
Do you know the biggest question I get asked when trading at events? It is “Do you take card?”. The simple answer is YES, we do!
For quite a while now Wildfox Home has been able to take payments digitally and that does include payments made via mobile phones and smartwatches as well as the plastic card variety. I’m a firm believer that in this day and age it is imperative that small businesses are forward thinking by providing the convenience and security that comes with taking digital payments. The card payments I take are all done through iZettle and for extra convenience I can email you a receipt for your purchase.
So next time you are at one of our events, save your cash for your coffee and know that you can make your Wildfox Home purchases via your digital wallet.
Product Pricing and value
Economically it has been rough for everyone for quite a few years now. Many businesses (large and small) have come and gone and customer behaviour is really changing. Consumers are generally spending less and thinking a lot more about their purchases and budget. I am no exception. Every purchase I now make as a consumer must be carefully considered to make sure it fits in with my budget and whether I believe in the value that I am receiving.
At Wildfox Home, I have taken on board this change in attitude towards shopping. Firstly (and this is based on market research that I carried out last year), customers are looking to spend £20 and under for a homeware accessory or gift. This is the price point that I am working on when developing the new in-house designed range. At this price you can buy a quality item for the home without breaking the bank or blowing your budget.
Secondly, it is all about making sure that my customers are getting the best value for their money. ~Let me explain how I bring value to your Wildfox Home experience….
The Wildfox Home range is predominantly black and white / monochrome with simple designs and shapes.
To quote Vikrmn from the novel 10 Alone “The most colourful thing in the world is black and white, it contains all colours and at the same time excludes all”
Black and white is classic and soulful (why do you think black and white photos are so popular). When something is void of all other colours it adds clarity to a message or design. It never goes out of fashion and it works so well with both contemporary and traditional interior decors. Basically, in this designer’s opinion, black and white offers longevity which equates to value.
Over the years your tastes will change. You may fancy adding a completely new colour scheme to your home which can work out to be expensive when you come to changing your accessories. With a monochrome homeware piece from Wildfox Home it will continue to complement your home décor for many years to come. And for an item that is under £20 that is definitely excellent value for money!
I hope that has given you a bit of an insight as to what to expect from yours truly over 2020. Please do leave any comments below and let me know your opinions on the predicated retail trends.