As we enter into the new year, retailers will need to think creatively to attract the ever changing customer. With new technologies approaching us every day, the ability to personalize the shopping experience as well as the convenience of being able to learn more about a product and purchase at any moment, what more are we waiting for?
Recent Technology Collabs
It’s safe to say Amazon and Whole Foods was one of the biggest recent mergers. Sephora created its own Innovation Lab to feature products online using AR, AI and RFID. McDonald’s partnered up with Uber Eats to have your meals delivered at the touch of a button.
Trends We’re Watching
Malls are a thing of the past: Brick and mortar stores aren’t doing so hot. In 2018, this model had a 9% vacancy rate in the 4th quarter.
Private Labels: According to CB Insights, sales growth of private label products are 3x higher than branded products.
Retail as a Service: Personalization is more than mass emails to your customers. Whether it’s an app enhancement or a marketplaces, this concept is going to be extremely relevant in 2019.
Sustainability: Last year, the IPCC (United Nations Intergovernmental Panel on Climate Change) mentioned that there are only 12 more years left to avoid disastrous impacts of climate change. Many retailers will put in efforts to support sustainability standards.
Loyalty Programs: It’s hard to keep up with the monster retailers with excellent loyalty programs. With new 2019 marketing strategies, higher loyalty members will lead to higher sales.
2018 was an interesting year for retailers – between bankruptcy, advancements in technology, data breaches and monster end of year sales, we can put these behind us and head into 2019 armed and ready to go!
C-Level experts from across North America’s retail industry are coming together in Dallas next month for the Digital Retail Transformation Assembly to anticipate the highly complex digital retail environment that will develop over the next few years.
Through a cutting-edge program designed by the industry, for the industry, we will provide a fresh and up-to-date insight to help move your organization to the next level of digital leadership. A series of executive education roundtables, keynote presentations, collaborative think tanks, educational workshops, and networking sessions will offer industry-specific topics and trends to ensure your company sustains its competitive advantage.
Are you a Retail executive interested in attending this event? Enquire here today to find out if you qualify for Millennium Membership >>