Here are the top 7 trends that we have seen from Remarkable A New Retail Company in the last 9 months and that we believe will continue to be relevant in the near future.
1 - Return to local
With confinement consumers have been forced to shop locally, and have led to an increase in local business traffic away from the large out-of-town malls. This trend goes hand in hand with Clic and Collect and home delivery for those items that are not available locally. The opportunity is for large consumer technology retailers to become more local with expertise and advice available in stores offering same-day delivery across their entire product portfolio.
2 - Dark stores
A necessity during lockdown has led to the restructuring of the physical store, and even the creation of new Click and Collect areas in separate physical spaces. Collection points will continue to be relevant to safety-minded and speedy consumers. This puts more relevance in the online customer journey and online support opportunities: Click to Video, Click to Chat ...
3 - Social selling
The rise of social media during lockdown was not a surprise, and the growth of social selling particularly in APAC has been interesting to follow. It won't be long before we see more direct selling opportunities on Instagram and Facebook among others in EMEA.
4 - Flexability as a strategy
The factor that has most influenced retail profitability in the last 9 months has been flexibility. From flexibility in functions to flexibility in response, there have been few areas unaffected. This will continue and the challenge will be to have hybrid talent that is operational in various areas. Digital transformation is the cornerstone of the future, but it has also taught us to always have a Plan B.
5 - Shock to loyalty
As noted by Mckinsey el Shock to Loyalty reflects the changing situations of consumers and the interest in finding new brands that satisfy their "new reality". It's hard to think of a greater opportunity in the last 20 years when consumers have been so open to changing brand loyalty. Those who can identify consumer preferences in health, sustainability and corporate responsibility will be the ones who will grow in the future.
6 - Hybrid talent
The move from the physical store to the online store has highlighted the lack of available hybrid talent. Omnichannel is here to stay, and old online or traditional features are not worth it. Hybrid talent is able to follow the Customer Journey as easily as the customer jumps from the physical store to the online store. Those who continue to divide online and offline roles no longer understand the consumer.
7 - Customer experience
Consumers are risking their health and those of their loved ones to buy your products. The question is whether the customer experience is up to scratch. More than ever the customer experience must be flawless. Aligned omnichannel experiences, seamless in-store experiences, streamlined product delivery, and efficient post-sale experience aren't the key, they're the new consumer reality.