Top 5 Retail Trends in 2018 to Watch Out Fo

Top 5 Retail Trends in 2018 to Watch Out Fo

With the festive season come and gone, and the last of the bubbly consumed, it’s time to set our sights on what 2018 will bring. This coming year will be a game-changer for those in the retail industry, and for those with strategic vision who are ready to embrace the latest retail trends, it could well be a record-breaker too.

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1) Memorable In-Store Experiences

Your audience has spoken, especially if you cater to a younger crowd. They don’t want a simple shopping experience anymore; they expect you to help them create memories or to make them feel special in some way. Consider Apple, with its staff trained to educate, Amazon, with its workshops, or Nutella with its personalised labels.

  • In-Store Events and Workshops
  • Experiential Marketing Campaigns
  • Giveaways
  • Relaxation Areas/ Cafes
  • Employees Trained to Educate
  • Personalisation
  • Appreciation/ Rewards

2) Unique Uses of Retail Theatre

Retail theatre, aka setting the stage for your guests, is also gaining steam. While it could be considered part of creating a memorable experience, particularly if your employees are tasked with playing specific roles, it has more to do with creative displays, unique architecture, and unusual methods of displaying products. Some great examples of retail theatre include TESCO’s virtual grocery shelves which appeared in Korean subway stations, giant mooing cow statues Milka placed in airports, and an entire clothing store artfully decorated with stretched tights.

  • Use Timely Displays (Seasonal, Holiday, or Occasion-Based)
  • Create Brand-Befitting Décor
  • Build Around a Concept
  • Offer the Unexpected
  • Give Employees a Role to Play

Image result for tesco virtual store south korea

3) Using Popup Shops to Generate Interest & Revenue

Everyone from the Kardashians to PETA are using pop-up shops for a multitude of reasons. For example, TESCO’s virtual grocery store was a popup shop, designed to educate potential shoppers about their grocery delivery service. The Kardashians use theirs to create limited-engagement frenzies to add to their cult followings (aka brand recognition)… no doubt the revenue they generate doesn’t hurt either. Other groups, like PETA, and even individuals like Richard Branson, use their popup shops to create awareness for their causes.

  • Generate Awareness/ Brand Recognition
  • Boost Sales
  • Test Markets
  • Test Products
  • Provide a Physical Presence
  • Educate Consumers

4) Impactful Use of Data

Right now, 81% of retailers gather shopper insights and 76% believe the insights are critical in determining their performance, but large corporations have the upper hand in knowing how to make use of the data collected. If you use loyalty cards at your local market or do any shopping at online venues like Amazon, you probably already know data is being gathered about you, and if you’re like most people, you’re probably ok with it as long as you benefit from it in some way. The catch- only 25% of marketers are even using location to help target customers with ideal messages and just 31% are using shopper insights to create promotions. With better tracking tools and easy access to analytics, more retailers will be using their data in mindful, impactful ways.

  • Customer Retention/ Loyalty
  • Improved Customer Service
  • Consumer Targeting
  • Store Layout
  • Product/ Service Development

5) Seamless Omni-Channel Experiences

Just like the younger crowds are expecting unique shopping experiences, they’re also driving a shift from individual shopping channels to a cohesive experience across all channels. At last count, 68% of millennials thought stores should be delivering the same message and have the same availability whether they were in a physical shop, using their mobile device, or on a computer. Most companies understand this and give it their best by trying to match up the experience, but a few go above and beyond. For example, Starbucks shoppers can reload their cards in-store or online, earn rewards through either channel, or place an order online and pick it up at a local shop.

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Vince Camuto, co-founder of Nine West, is another great example. His self-named company sells trench coats, which are well-received by female shoppers, but the company got many complaints that the women were losing their belts and couldn’t wear the coat anymore. Camuto seized the opportunity and devised a campaign around it; in-store, online, in social media, and via email. They posted a blog discussing ways to get a unique look without the original belt and invited shoppers to share their tips. This forward-thinking approach incorporated every channel and improved the customer experience.

  • Consistent Marketing Messages Across All Channels
  • Multiple Ways to Connect with the Brand
  • Seamless Shopping Experience
  • Integration of Mobile Tech In-Store
  • Use of Data/ Analytics to Improve Experiences Across All Channels

Pop Up in 2018

If you plan to launch a pop up shop in UK or Ireland in 2018 and integrate some of these retail trends, Popertee can help. Begin your search for your ideal venue by browsing our listings now. If you have a space that you won’t be using, or may be underutilizing and want to share, you may also add your venue to our site free.