On the eve of a brand new financial year, we asked visual retail specialist Eve Reid, of the Metamorphosis Group, to give us her professional predictions for the coming year ahead. What retail trends in shopper psychology are shaping the retail landscape. What’s in and what’s out? What should every successful retailer, whatever their size, be aware of? The question…
Are you retail ready to hit the ground running?
RETAIL TRENDS: SMALL IS BEAUTIFUL
Smaller stores are in; larger stores are out.
At last! Welcome to the small store revolution.
Your mission should you choose to accept it, is to be ‘brilliant’ not BIG.
WHAT IS YOUR SPECIALITY?
Specialty stores will be more productive than department stores. Think, butcher, the baker, the candlestick maker and you’ll definitely be onto something. Be aware of where your competition lies and who’s doing what on the high street. So, think about what YOUR ‘specialism’ is, and then play to your ‘strengths’.
MAKE YOURSELF AT HOME
The fact is there is a reason that Ikea doesn’t really mind if its customers go on dates, vomit and pass out in their stores. Customers want to feel ‘at home’. So whatever you do this year, stop thinking ‘customer Service; and start thinking ‘Customer Care’. Welcome your customer and treat them as you would if they were in your own house. Remember, getting bodies in the door means increasing sales, if not today, then somewhere down the line, and that’s a retail trend we could all do with!
WHAT’S YOUR STORY?
Retailers who promote product quality, transparency and sustainability will flourish. You need to bare all!
If you haven’t already, it’s time to ask yourself, what stories do you have that you aren’t communicating?
Remember, in failing to tell the story, you’re failing to sell.
Read more about storytelling in our blog What’s the most important skill a retailer can learn?
MAKE IT PERSONAL
Personalisation will become increasingly important to consumers. Look out for branding services that help you to customise your packaging and products.
2017 will favour retailers who come up with smart, bold ways to personalise & elevate every aspect of the shopping experience.
EXPERIENCE, NOT PRODUCT
Stores providing a unique in-store experiences will thrive.
When we’re not shopping online we are looking for so much more than just product. Just think, bookshops now sell coffee, supermarkets now sell loans, water companies now sell gas, Ralph Lauren even sells white paint. If you really want to elevate your store, think smell, touch and sound. There’s really nothing more inviting than a shop that makes you want to wiggle your toes and relax…
DIGITAL MARKETING AND SOCIAL NETWORKS
Data will continue to be a significant component of retail success. We’re busy, so we forget. It is up to you as a retailer to stay in my mind.
Think of it as a friendship…..let me know when something exciting is happening; or when there is an offer that’s too good to miss.
Last but not least, retail and technology will become even more inseparable. With small being the new big, you will have to ensure that people that love to shop with you, can do so easily; whenever and wherever they want. Retailers can no longer treat online and in-store as two separate entities; the two must merge in order to provide consumers with a seamless brand experience.’ So remember, you don’t have to be big to be online.
To book a Retail School course day for your team, led by the Metamorphosis Group expert and covering topics like retail trends and shopper psychology, space planning, window dressing and visual merchandising – email us at email@example.com