13 global predictions for the retail sector | #RetailBiz with Craig Page-Lee

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Craig chats to BizRadio about the Daymon Worldwide retail predictions report (if you would like to download the full report click on the link: Daymon Worldwide Releases 2013 and Beyond Global Retail Trend Predictions


RetailBiz-On-BizRadioCraig Page-Lee in conversation with BizRadio’s Grant Jansen
Podcast | Click HERE to listen

1. NoGo – First it was BoGo, now On-The-Go has been taken to a whole new level of convenience with NoGo as retailers bring their goods to consumers, wherever they may be, from parking lots to playgrounds.

Drive-by options will increase and complement mobile ordering options, such as special parking lot bays that allow consumers to enter a code for direct-to-trunk delivery of grocery items on the way home from work instead of having to schedule home delivery.

2. Medical Mayhem – Shoppers will bring DIY to pharmaceuticals with a broad variety of retailers providing online diagnosis, in-store clinics linked to local doctor offices and a rise in homeopathic foods and solutions for common ailments. With economic and rising health care costs, preventative health and wellness is top-of-mind for consumers. On-site nutrition, health and lifestyle experts also will be available to provide immediate guidance.

3. Beyond Four Walls – Floating supermarkets, roving restaurants and convenience stores on wheels will make it easier than ever for consumers to get what they want, when they want it – even if they’re living in a remote fishing village along the Amazon River.  Retailers, national brands and food purveyors will continue to make their products and services more accessible to the masses outside of brick and mortar operations. Digital connectivity will be leveraged to facilitate daily interaction, from exclusive sampling offers and menu specials to the fastest routes to a favorite limited-availability item.

4. “Un-Manned” Marketplace – A growing number of retailers will leverage new technology that enables consumers to make purchases anytime, anywhere and to sell more of their goods without the aid of paid employees. Beauty product kiosks with automatic payment options, mobile scanner-enabled grocery shopping and 24-hour C-stores with vending machine product offerings are just a few examples of consumer empowerment to make even more convenient purchase decisions.

5. Backyard is Better – Despite increased social media use, consumers still desire more personal ties to their local communities and shopping experiences. Retailers and restaurants looking to drive loyalty will provide opportunities for their consumers to support neighborhood businesses, farmers and organizations. Store parking lots will take center stage as a venue for engagement, helping retailers to increase and encourage future sales and visits.

6. New Retail Currency- New technologies will eliminate the need for using cash and credit cards to pay for goods and services.  Instead, consumer-controlled payment methods, such as the swipe of a loyalty card or mobile phone scan, will make the process more convenient, quick and cost-efficient for both businesses and shoppers. By implementing these new payment options, retailers, in particular, can reap the benefits of bypassing hefty bank-imposed transaction fees.

7. Be-Cause – Consumer desire for more ecological, waste-free products and services at affordable prices, matched with retailer focus on consumer engagement, will drive the development of more socially responsible concepts, service models and innovations.

Consumers will be invited to customize or create their own greener products and services, from recipes for home-brewed versions of their favorite beers to supporting local rooftop gardens. Overall concern for the environment will also fuel the popularity of recyclable packaging and in-store “refill” shopping options.

8. Chef In The Kitchen – Retailers will secure consumer loyalty by making culinary adventures and chef-inspired eating occasions more accessible than ever. As convenience and grocery stores increasingly compete with the rapidly changing foodservice segment, retailers will look for ways outside of discounts and purchase promotions to lure consumers inside their stores by making shopping trips more of a treat than a chore. Local chef-inspired, ready-to-assemble or prepared meals, plus in-store cooking classes, exclusive recipe tastings and relaxing cafes can do the trick.

9. Meatless meals – Due to rising food costs, Americans may be particularly interested in learning about alternate protein sources that are less expensive and more environmentally friendly than traditional sources like meat and poultry. More health-minded, cost-conscious consumers will consider safe, ecologically-friendly sources of protein beyond the reaches of most of our imaginations. Remember when sushi was only for the truly adventurous? In the future, perhaps bug and bean-sourced proteins will be more widely accepted alternatives to meat.

10. Participatory Eating Culture – As we evolve into an eating culture versus a cooking culture, shopping and consumption will become democratized and consumers will crave more culturally authentic, inspirational and fresh, local offerings, which will dominate larger sections of grocery stores, restaurants and convenience shops.

Retailers can help consumers rethink their eating habits by providing fresh, healthier snacking options geared to replace rather than supplement meals. Family gathering around the dinner table will be reconsidered to identify more realistic, occasion-based time-slots for busy families still interested in reaping the benefits of sharing meals.

11. Curate or Die – In response to increasing e-commerce competition, brick and mortar operations will implement smaller stores and broader formats to service consumers craving more personal attention. Increased sales and success for Internet retailers like Amazon.com, matched with the cost-efficiencies enjoyed by discount and big box retailers, will force smaller retailers to leverage their physical advantages and provide more products, more solutions and more service to a greater demographic of potential customers.

12. Global Sourcing – As exposure to global cuisines and culinary traditions expand American palates, retailers and brands will identify new product sources beyond traditional business borders.

U.S. manufacturers may consider tapping into less expensive product suppliers, including those in newly emerged markets like Colombia, Indonesia, Vietnam, Egypt, Turkey and S. Africa (CIVETS). As a result, food safety and quality issues will need to be a top priority for consumers and the retailers and suppliers who service them.

13. Next Gen Shoppers – Major brands and retailers recognize that they are still not fully prepared to communicate with their Millennial consumers and employees. From transparent product authenticity and information to work-life balance and health and wellness rewards, it will be increasingly necessary to go beyond basic social media and identify what truly motivates Millennials.


A new addition to BizRadio’s weekly content offering – #RetailBiz with Craig Page-Lee – anything from in-store promotions to outdoor billboards, from customer journeys to brands evolving. Craig dives straight into the retail environment and looks at what is happening in-store and how technology, especially digital is influencing and changing the way in which we shop.

Craig Page-Lee is the MD of Posterscope – SA’s leading Out Of Home specialists. He is passionate about retail and has a background in design and architecture and one day dreams of heading off on a world adventure on his motor-cycle.

Join Grant Jansen every weekday morning from 10 to noon for the Daily Biz on Biz Radio.

 

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eBizRadio

eBizRadio is a live multi- platformed social media service providing an online forum to the business community for holding conversations on the key issues related to specific businesses as well as availing a space for cross-business collaboration in response to key issues affecting the world of business. The place to go if you want to know about business and lifestyle

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