You’re obsessed with the future of retail. We’re obsessed with the future of retail.
Every CEO, senior executive, CMO and CIO is obsessed. Every trend firm, every consultancy. Everyone. Right?
Except, that is for consumers. Billions of them. Consumers don’t think about retail the same way we do. They don’t go through the day with terms like ‘omnichannel’, ‘m-commerce’, or ‘mobile responsive’ floating around their heads.
They don’t care about your Last Mile problem, or your Bezos-eats-your-lunch problem. Consumers don’t lose sleep over the Retail Apocalypse.
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The thing is, you’re right to be obsessed.
Because while consumers may not care about the future of retail, they’re still busy creating that future. They’re fueled by a set of unchanging human needs. And their expectations never stand still. They want greater convenience. They want better value. They want excitement, meaning, status, relevance, authenticity, social connection and more.
It’s the relentless consumer quest to fulfil those needs that drives every change we see in the retail arena. The demise of Toys R Us. Alibaba’s record USD 25 billion Singles Day. JD.com’s pledge to open 1,000 physical stores a day – yes, you read that right – in 2019. Amazon delivering to the trunk of your car. It’s brutal out there.
But don’t start feeling smug if you’re not a retail business. These powerful consumer expectation shifts may arise within retail, but they’ll quickly spread to your industry, too.
There is no shortage of high-level overviews of the state of retail, and the broad forces reshaping it. With this publication we went a different route. We’re not here to talk about the new wave of automated stores, the ongoing rise of direct to consumer, the march of offline-to-online retail brands, or the opportunities presented by Tier II and III.
Yes, they’re all crucial ongoing trends. But we know they’re already on your radar. Instead, in this this report we’ll highlight five key tactical trends that are reshaping consumer expectations in 2019 and beyond. These are trends that you can use. Trends that can fuel your next winning product, service, campaign, experience, platform, business model and more.
1. MAGIC POINT OF SALE
Consumers now expect to summon retail brands as they would a genie from a lamp.
2. DEEP RETAIL
In 2019, smart retail brands know their customers better than customers know themselves.
3. CULTURE CLUBS
Your internal culture is your brand. So do more to help your people flourish.
From discovery to delivery, retail brands are automating the customer journey.
5. PRACTICAL POST-DEMOGRAPHICS
Inclusive marketing is no longer enough. Time to to reimagine everything you do around true diversity.
So, enough preamble. Let’s do this. And remember, these trends are opportunities waiting to happen. After you read, take action!