As we come to the end of another year, we’ve been thinking about how the retail sector has evolved over the past 12 months, the impact technology has had, and what’s to come in 2015.* With that in mind, we’ve been reviewing some of the predictions retail analysts and pundits have made as we head towards the new year. *
Here’s a round-up of some of our favourites…
“Last year, the fifth anniversary of our coinage of ‘omnichannel’ as the go-forward retail paradigm, we recognized three Rs — relationship, relevance, and reciprocity — as the industry’s defining characteristics. A year later, we see another characteristic building on these three, participation.”
Growth in Spending on Services
“Spending on goods will continue to lose ground to spending on services (Figure 15). Older generations are becoming more service, “do it for me”, and experience oriented. Younger generations are more likely to approach goods, services and experiences as an integrated continuum. To satisfy customer needs, retailers will need to incorporate services and experiences into their concepts.”
Mobile enabled store staff
“Mobile friendly services have always clearly been important to gain customer adoption. But we’re seeing more and more recognition that apps for retail staff must have that same level of quality if employees and the business are likely to generate maximum value from them. Ease of use is a growing driver when companies are making technology decisions in 2015.”
Google Glass to finally take off
“Google Glass applications are starting to emerge in industries like medical and hospitality. Retail will soon follow suit with applications like pick, pack & despatch and personalised concierge service in luxury retailers.”
The rise of beacons
“Beacon technology will start to become more prevalent with retailers starting to engage customers with location-based personalised targeted promotions when in store.”
Craig W Smith, Retail-innovation.com
Q: Who is making the best effort joining the dots on to offline?
A: John Lewis and House of Fraser and Schuh
Q: What strategy do you think we’ll see retailers start to abandon in 2015?
A: Race for space and sales per square foot metrics
Q: What tech will be a big distraction for retailers that goes nowhere?
A: NFC maybe…the move seems to be beacons and low power Bluetooth
Glynn Davies, Retail Insider
2015 is certainly shaping up to be a transformative year in retail. With brands embracing new technologies and new ways of using their offline space to engage with shoppers, it can only mean exciting things to come for the customer in the year ahead and beyond.