Why You Can’t Trust Expert Predictions About the Retail Industry?

Retail predictions for 2021

The Journey From Retail To eRetail

We all are aware of the power of eRetail now. But how did people feel about this entire concept of shopping through a device and not going to the store in the past? Many predictions made in the early years, before the internet became so popular, were actually not in the favor of eRetail.

Why Did Retail Predictions Fail Many Times?

Let’s understand this by studying the example shared above. The base of that prediction was ‘women like to touch their fabrics before buying those.’

What Can Be Done?

The best thing you can do as a business owner is to figure out how to provide the ‘feel the fabric’ experience and the ease of online shopping at the same time.

How To Successfully Analyze Predictions?

The art of successfully analyzing any prediction is to not lose your focus on your customers. Whenever you hear of any prediction, you have to figure out if it’s going to make your customers’ lives better or not. Predictions accurately can move your online retail business.

Key Takeaway

There are no rules for finding out what will work and what will not. These are predictions, after all. But if these predictions are made from a customer-centric view and are based on data, then you can invest more time and energy in learning about these and eventually adopting these in your business.

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Pooja Agnihotri

Pooja Agnihotri

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Experienced marketer and a published book author, Pooja Agnihotri, is on a mission to save businesses from themselves.