Merchant Cash Advance Blog

Specialty retail shops have certainly taken a hit over the course of this year and those who have hung on should be looking to make 2021 as prosperous as possible. Those businesses that have been adaptable and willing to embrace technology have found ways to thrive, and that is something that is going to be necessary well into the future. Here we take a look at five trends that will continue to impact specialty retail in 2021.

Ecommerce has exploded over the course of 2020 as many small retail owners have either expanded or initiated their online stores. An enormous portion of holiday shopping will take place online this year and the competition will be fierce. Having a strategy to make your store stand out could make or break your holiday season.

The food industry thrives on trends and paying attention to the changing tastes and preferences of consumers is essential in cultivating offerings that fit their demands. Scouring the internet we have identified five trends that are beginning to take hold and are poised to explode over the next year.

Being flexible is one of the major advantages that small retailers hold over their larger competitors. Using this flexibility to enhance and expand your inventory for the holiday season may be a wise move to increase your average sale numbers. Even if you specialize in a particular niche, it may be beneficial to explore different product categories and consider carrying a few popular items that may be out of the ordinary for your store. So, where are consumers expected to spend their money?

An emphasis on safety, speed and convenience is driving major changes to the face of specialty retail. While many make the wise move to incorporate ecommerce into their business plans, it is also important to focus on the crucial changes you’ll need to make to your physical location.