Retail transforms the usual lifestyle of brands. In an era of augmented reality, being present single ladies online and offline isn’t enough. Companies need to adapt to the sophisticated demands of customers. Here are 11 key retail trends brands should take note of.
Physical feat. digital
Sometimes brands that begin online open physical stores. Experts claim that in the next five years, digital brands will open about 850 regular stores. Most of these brands sell clothes, which makes sense because this is the category in which buyers definitely benefit from personal interaction with the product.
Know your customer
If a retailer wants to survive and thrive, it should fully understand the needs and desires of consumers, and this statement is truer today than ever.
Community, not commerce
Retailers create catchy environments where customers want to spend quality time, not just make purchases.
Be ready for consolidation
New development projects will be multi-purpose and contain shopping, entertainment, office, and residential components.
“Hold my hand”
Since everything is now available at the touch of a button, customers want stores to offer an individual approach and informative advice on product selection.
Online and offline integration
Retailers integrate online and offline sales channels into a common space to attract and retain customers.
Improving technologies allow brands to demonstrate the whole “journey” of a product from its manufacturer to the customer to protect their reputation, inform shoppers, and ensure the quality and authenticity of products.
Opinion leader on Instagram
Real-time interaction and the growing influence of opinion leaders on the Instagram social network are changing the way they shop and interact with brands.
Technology contributes to assisted shopping: smart mirrors, sound automatic consultation, as well as virtual and augmented reality make it easier to find what you’re looking for.
Retailers see profits for themselves in outlet centers. This has led to their global development due to the conviction that outlet centers provide a solution to the problem of excess goods and slow growth.
Cash no longer dominates
Technology has changed payment methods, and retailers have to take this into account when planning a store and revise the usual payment methods.
As retailers continue to evolve to meet the ever-changing needs of consumers, traditional retail spaces are becoming increasingly outdated. Therefore, we believe that stores should adapt to offer customers:
Give buyers something that lasts longer than their purchase and makes them
return to you to get more of it.
– Fresh ideas. Regularly create new concepts – think over temporary outlets, concept stores, events, and the like.
– Fun and Community. Create entertainment zones that customers would like to visit and spend time there.
– Everyday experience. Make everyday things more accessible.
– Expanding horizons. Integrate culture and history into consumer experience.
– Compatibility. Retail directions should correspond to different age categories and demographic indicators.