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Michelle Romero: Michelle.Romero@syf.com Tyler Allen: Tyler.Allen@syf.com
Article
March 9, 2022, 4:15 PM EST
The retail landscape is ever-changing and running a successful business means planning and evolving your strategies. By staying ahead to provide what today’s shopper wants, you can help keep your business strong, engage with customers, and keep making the sale.
Here are five steps you could take, and additional resources to help you along the way:
1. Stay connected to your customers. Maintaining regular contact with your customers can help keep your small business top of mind and increase loyalty. Whether it’s through social media, blog posts, newsletters, emails or other online content sharing helpful, relevant information regularly is a great way to help shoppers remember you when they’re ready to buy.
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2. Provide customers with multiple types of shopping options. The key word is “flexibility.” Being in the places customers want to shop, when they are ready to make a purchase, and how they feel most comfortable paying is what this year is all about. You can’t just rely on online or in-store shopping methods to keep customers happy. Instead, offering multiple options to customers will help ensure that no matter how they like to shop, you’ll be able to meet their needs—whether it’s online, in-store, on an app or a combination.
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3. Offer a safe, convenient shopping process. The need to feel safe while shopping is likely to linger in people’s minds for years to come. To encourage visits to your store, take steps to help make your customers feel comfortable. This can include posting your cleaning processes, having store layouts that make social distancing easier and offering contactless payments.
4. Introduce shoppers to your brand. More than ever before, today’s consumers want more meaningful interactions with the businesses they support. Customers may want to know “who” you are as a business, your company values and where you stand on important topics, such as local sourcing and sustainability. If your business has a socially-conscious, community-focused mindset, be sure to let your customers know.
5. Stay in the know as shopper preferences change. To keep your business thriving, it’s important to stay aware of consumer trends so you can be ready for what lies ahead. Keeping track of the latest economic news, shopping trends and what’s happening in your industry and in your community, can help you adapt quickly, if and when things change. Subscribe to industry newsletters, podcasts, follow organizations like the Small Business Administration to keep up on the latest news. Of course, we invite you to stay up to date with Synchrony’s insights where we share what’s now, new and next in payments, consumer trends and more.
Contact us to see how Synchrony’s decades of data insights and world class analytics can bring you more customers and drive loyalty.
This information is shared solely for your convenience. You are urged to consult with your individual advisors with respect to any information presented.
Tags
Announcement
09/29/2020
STAMFORD, Conn. – September 29, 2020 – Synchrony, a premier consumer financial services company, is rapidly deploying digital technology solutions to help ensure a safe
11/12/2019
April 15, 2019 – STAMFORD, Conn. — Ahead of Earth Day, Synchrony (NYSE:SYF), a premier consumer financial services company, today announced a new ‘Go Paperless’ campaign in partnership with American Forests. For the first 100,000 customers who enroll in paperless billing beginning Monday, April 22nd through July 21, 2019, Synchrony will donate $1 for each Synchrony customer. Every dollar donated plants one new tree with American Forests.
Press Release
COSTA MESA, Calif. – November 6, 2019 – The American Academy of Orthopaedic Surgeons (AAOS), the preeminent provider of education and practice management services for orthopaedic surgeons and allied health professionals has entered a new partnership with CareCredit, a leading health, wellness and personal care credit card business.
09/11/2019
We surveyed key new elements of retail technology that have emerged over the past several years.
Event
11/15/2019
STAMFORD, Conn. – October 30, 2019 – Synchrony Financial (NYSE: SYF) will participate in Citi’s 2019 Financial Technology Conference. A live webcast and replay will be made available on the Synchrony Financial Investor Relations website at www.investors.synchronyfinancial.com.
Video
12/11/2020
Many businesses have a mobile app — but is that app giving customers what they need? As retailers reimagine their customer touchpoints, apps look like a promising new opportunity.
10/09/2020
Learn about the expanding world of social commerce and how customers have embraced the “see it, click it, pay for it” mentality.
07/20/2020
Data drives opportunities for growth. When you use it to tailor a strategy, you may make stronger, more personal connections with your customers.
01/24/2020
In the next five years, retailers can expect wider adoption of facial recognition and finger-print scanning in payments. Why? Bio-authentication offers stronger payment security than a typical password.
WhitePaper
01/31/2020
If occasions for gift-giving are meant to be joyous, why are they often a headache? Whatever the reason – Wedding? Father’s Day? Second cousin’s dog’s wedding? -- there are challenges galore to getting the right gift to the right person at the right time. Why can’t it be as simple as “I see it, I like it, they’ll love it, I bought it”?
03/18/2019
The transformation in retail is driven mainly by technology and artificial intelligence. Read on to discover five top trends that are changing the way people shop—now and into the future.
03/04/2019
Our survey findings show that retailers are making meaningful strides in their digital transformation efforts, with AI-powered technologies an increasing focus.
11/20/2023
Read the findings from Synchrony’s 2023 Major Purchase Study. Learn about recent buying behavior across 13 different shopping categories.
04/06/2023
Synchrony SVP, Chief Product Officer Florin Arghirescu shares what he sees are three key trends for retailers in 2023.
03/16/2023
While working at a free clinic in college, Dr. Shad Hattaway, D.D.S., noticed a paradox: those who need quality healthcare the most are often unable to afford it.