Consumer behaviour is changing faster than ever before – ignore it at your peril

It was a pleasure to join Oliver Banks on The Retail Transformation Show and discuss the extraordinary change in the retail market. 

I believe that the rise of social media is one of the drivers for this. Facebook, Twitter, Instagram and others have significantly changed the retail industry, forever. Whilst I don't dispute there are many other changes happening in retail - this is one area that retailers can deliver impact and change it fast. 

"Consumer behaviour is changing faster than ever before - ignore it at your peril."

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Only 15 years ago, social media was not on our radar and we could never have imagined the huge impact it would have on our lives. We now are using social media for 2 hours a day on average. However, for those aged 16 to 24, that increased to 3 hours a day. All that time scrolling through the feed.

Social media in retail has driven fundamental change - but there are a number of points that many retailers are missing completely.

Social media in retail has driven fundamental change

  1. You don’t need to do e-commerce to do social media 
  2. Social media drives physical footfall not just web traffic
  3. Social media is not just about posting and ad spend
  4. Social media is not just about followers
  5. Social media is a conversation to engage with

Using social media to drive physical footfall

Companies like Primark and B&M Bargains who are trading well, are also performing well on social media. This is made remarkable by the fact that they don’t do e-commerce at all. But they focus their digital activity on driving their social traffic to their stores.

Here are good examples from B&M Home Bargains and Primark who are using social to drive customers into the store. The call to action is very clear and they’re appealing to that urgency to act quickly before they’re gone.  They’re both looking to connect with people in their everyday lives.

What is the biggest mistake to make on social media?

One of the biggest mistakes on social media is to use it as a broadcast channel only. It’s not like TV,  radio or billboards. Social media is a channel for conversation and engagement

This is especially true with paid posts too. In the podcast, I explore how these can get lost and ignored. along with examples of things to avoid if you’re doing social media in retail. But you’ll have to listen to the episode in full to find out more...

Listen to the podcast: 'How Social Media Is Changing Retail ' on The Retail Transformation Show.

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