Earlier in the year we headed to NRF, and here’s our summary of retail trends in 2019, and what you should expect in the retail sector over the next 12 months.
Throughout the year, we welcome retailers and industry experts at retail trade shows such as NRF to discuss all things store traffic and customer behavior-related. Talking points often circle around how to use the data provided by traffic counting technology, underpinned by the general consensus that retailers should start with the consumer on every decision.
At every trade show we attend, we meet fantastic stores from across the globe who recognize the need to pay better attention to traffic – and some who are already doing it but want to use their data more effectively.
Nobody can deny it’s been a tough year for the high street, with a number of once-successful brands either fighting for survival or shutting their doors for good. Even those who are faring comparatively well – often by developing a strong omnichannel offer – are no doubt all-too-aware of their vulnerability in a challenging environment.
Retail psychology looks at how consumer spending is influenced, so it is important to provide an in-store experience that is both on-brand and relevant to your audience. To achieve a good conversion rate, marketing needs to be targeted at the right audience so that potential shoppers expect what is being offered in terms of physical product and brand personality. By finding out exactly who your audience is, you can better influence their spending habits. Brand identity is therefore essential, and every element of a brick and mortar outlet contributes to this. Using a mix of the visual merchandising and sales techniques explained below, will help turn shoppers into lifelong customers.
Dr Tim Denison, director of retail intelligence at Ipsos Retail Performance features in the summer edition of The Retailer, the BRC’s quarterly online magazine. The article highlights two different research approaches that are coming to the aid of store design teams in making informed, customer-centric decisions when faced with the daunting task of determining what their stores of the future should look like.
