According to data, the total size of the US Retail Industry is expected to reach $30 Billion by the end of 2020. In terms of year-on-year growths, the industry is growing at double digits comfortably.
However, this does not mean that there is no let-up for retail businesses in terms of competition. In fact, more and more brands are coming up leading to a saturation of the market space.
Smaller retail businesses, like your local grocery store, can also pursue constructive marketing strategies in 2021 to boost their performances.
In this article, we look at some of the top marketing strategies for retail businesses in 2021. We begin the article by looking at the needs and requirements of local retail businesses and point out the strategies and solutions to help them.
Why Retail Marketing in 2021 has to be a Mix of Online and Offline Activities?
Most marketers suggest retail businesses to focus more on online mediums than offline ones. However, retail businesses, especially the ones, which cater to local markets and populations, should always have a blend of offline and online marketing strategies.
This is because businesses, which work with limited budgets and resources, need cannot invest heavily in a purely online ecosystem. Creating e-commerce platforms is one thing, integrating them with complex ERPs, logistics, supply chain, etc. is another.
Local offline marketing by using useful and functional elements like custom reusable grocery bags can give exposure, spread the word about the brand in local settings. This helps with physical footfalls and sales. Online mediums too are important as you cannot afford to ignore the changes in consumer behavior in 2021.
List of Top 5 Marketing Strategies for Retail Businesses in 2021
- Local SEO with Google My Business-
If there is one digital marketing strategy, small businesses should not ignore it in any way, it is GMB. Google has amplified the coverage, exposure, and immediate results for brands who use GMB. If your GMB page is updated, carries, positive reviews along with images and videos, it is very likely to draw more queries, phone calls, and physical check-ins.
- Grocery Bag Offline Promotions-
People who buy from retail businesses can become their own walking brand ambassadors with this simple, yet effective strategy. Retail brands should look to invest in affordable and organic reusable grocery bags, which allow customers to use them for different needs. This small step is likely to add a lot of value to your customers and endear them to the brand in a big way.
- Local Community Influencers-
One workable marketing strategy to use in 2021, is to work with local influencers who have their audiences in limited geographical territories. Not only are they more affordable to work with, but they can help you spread the work in local communities. This can help you with regards to branding, hosting events, and emerging as a strong name in the community.
- Targeted Social Media-
While having a social media presence is essential, targeting the same for best performance is critical for retail businesses. This means using local hashtags and targeting strategies on paid social promotions. If you do not have any way to ship your product to a query in Australia, you should not have a generic social media plan. Focus and emphasis are important.
- Local Print, Radio, and TV-
It has been found that smaller communities, still consume a lot of local newspapers, community radio, and news channels. This is not to say that they are not on social media. However, retail businesses, which are primarily focussing on local clients can run ads, sponsor shows, and hold events to boost their visibility in markets. This is a highly effective form of traditional marketing.
The Final Word
If you are running a retail business, with a primary focus on local consumers you can take help from the list of marketing strategies in the article. This will allow you to not only grow in terms of new customers but also allow you to increase repeat purchases and sales. Small strategies like reusable grocery bags or Local SEO with GMB can yield highly productive results for retail businesses in 2021.