Four Tips to Boost Your Business in 2012

Colliers International released its U.S. Retail Highlights: 2012 Outlook this week. Here’s a roundup of the top trends:

1. Invest in e-commerce and reap the rewards. Make sure your site is easy to read and navigate on both desktop Web browsers and mobile devices. Mobile-phone commerce alone accounted for $6.7 billion in sales last year and that number is projected to soar to $10 billion in 2012.

2. Luxury shoppers are feeling less self-conscious and are buying more. Look for accessories, leather goods, watches and electronics to do well in 2012.

3. Customer service and convenience will often outweigh price for consumers, especially for long-term loyalty. Focus on easy but effective solutions like minimizing wait times in checkout lines, streamlining the returns process, maintaining inventory levels and offering adequate parking.

4. Create a sense of urgency by offering limited-time-only items and offers. The use of mobile applications is escalating price competition and retailers must find new ways to captivate the customer.

One thought on “Four Tips to Boost Your Business in 2012

  1. As e-commerce developers for small to mid-sized businesses, we’ve seen an uptick in brock-and-mortar and web-based-only start-ups. The start-ups that we’ve helped launch are attaining faster return-on-investment with personalized and timely communication. This goes for email inquiries, return-merchandise requests, making appropriate targeted offers to email lists that merchants spend worthwhile time segmenting. The merchants that are taking time get to know their customers through social networks like Twitter, Facebook and blogs are finding that they can spend fewer advertising dollars to gain more new customers and repeat sales through these avenues than they would if they just posted coupons and offers.

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