Let’s not sugar-coat it: the British high street has struggled in the last decade. If it wasn’t already hard enough for shops to compete with the rapidly growing phenomenon of online shopping, the COVID-19 pandemic then came along and made things even worse. The pandemic may have led to the demise of many retailers which were already on their last legs, but UK retail sales ultimately managed to grow by 2.2% last year, which proves there is still money to be made in this supposedly crumbling sector. It’s important to have a keen awareness of the public’s shopping habits and desires if you want to keep up with the changing times, so here we’ve listed 4 emerging retail trends that your business may want to pay attention to.
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Omnichannel Retail
It’s no longer enough to just have a good online presence; customers are increasingly looking for their online and in-store shopping experiences to be smoothly integrated. Even stores that have been previously online-only recognise that opening a physical store has its merits: Amazon has recently launched its first (cashierless) shop in the UK, and Oxford Street now has a designated ‘pop-up’ shop that will be rented out by various online retailers to provide a space to reach new customers. Omnichannel retail in action includes click and collect services, online chatbots to answer customer questions, the ability to check in-store stock levels online, and making purchases directly through social media. More established businesses will obviously have more resources to implement a seamless omnichannel strategy, but if you are looking to improve customer loyalty, it is a strategy that’s worth the investment.
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Personalisation