What are the major trends and developments in retailing?
Some of the developments taking place include tighter consumer spending; new retail forms; shortening retail life cycles and retail convergence; rise of megaretailers; growth of direct, online, mobile, and social media retailing; necessity of omni-channel retailing; importance of retail technology; green retailing; and …
Which are the recent changes in retailing?
Shopping Then and Now: Five Ways Retail Has Changed and How Businesses Can Adapt
- Shoppers know as much as salespeople.
- Retailers can deliver personal, relevant suggestions at scale.
- Mobile devices drive foot traffic to stores.
- Opinions carry more weight than ever.
- Products can jump off the screen.
Why are retail trends important?
By looking at the trends in retail, businesses can better predict what their customers will want in the near future and move into a position to fulfil that requirement.
How has retail changed in the last 10 years?
The past decade has seen a rise of direct-to-consumer brands and companies built nearly entirely on social media. Offline stores began experimenting with new forms of tech to entice shoppers back into brick-and-mortar stores.
How is retail evolving?
Retail evolution is leading to an increase in the use of technologies like augmented reality, interactive video, 360 views, and gestural controls to bring products to life on shoppers’ screens, and this will only grow in the future.
What’s the future of retail?
Growth will be slow initially, but ramp up quickly. Smaller retailers will start to close, reducing consumer options and driving more people online. The role of the physical store will still be important despite the rise of online retail. In fact, brick-and-mortar retail can still thrive in the new era.
Why has retailing changed so much?
The experience of shopping has enormously transformed the way retail operates with different technologies, consumer habits and expectations shaping the industry, and the way consumers approach shopping is a distinctive contrast to how they did over 10 years ago.