RETAIL INNOVATION ROUND-UP

During our regular store visits we have seen various retail trends become ever more prevalent through 2021.  This short document focuses on some interesting initiatives in these areas globally and highlights what they mean for POS.

TECHNOLOGY

Consumers expect a seamless experience across channels

The pandemic has encouraged people to embrace technology further with increased usage of QR codes, online queueing systems etc.

According to Mobileiron 72% have scanned a QR code in the past month*, 67% believe QR codes make life easier in a touchless world and 58% want to see QR codes used more broadly in the future

PERSONALISE

People are looking for products, gifts and experiences which feel personalised to them

According to Segment, 71% of consumers feel frustrated when a shopping experience is impersonal and a survey by Retail TouchPoints discovered that 36% of consumers say retailers need to do more to offer personalised experiences

SUSTAINABILITY

Across the high street sustainability is highly visible with Retailers and Brands communicating how they are trying to reduce their impact

This is driven by consumer pressure and people wanting to understand the implications of their own actions

According to a Nielson study of over 30,000 consumers in 60 countries, 66% of respondents were prepared to pay more for sustainable products

PLACEMENT

Consumers expect brands and retailers to understand their needs – and therefore be where they are

To drive differentiation from online, retailers and brands need to work harder to drive footfall by providing unique experiences which cannot be replicated online

*September 2020