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Is that even possible coming out of a year like 2020? This year, like most, catalyzed some nascent trends and kicked a few in the teeth. One futurist we know said, “2020 was so weird I didn’t even get a chance to be wrong.”. In no particular order, let’s examine what we believe to be some key trends in retail.
Here are the top five ways retail will evolve in 2020: Loyalty Breaks With Tradition. Leading retailers recognize the need to build dynamic relationships that extend far beyond traditional loyalty programs heading into 2020. A single data breach in the retail industry typically costs more than $1.84
2020 was a whirlwind of a year not just for the global population, but for businesses too. The post Preparing for 2021: RetailTrends & Shopper Expectations to Watch Out For appeared first on Blog. The post Preparing for 2021: RetailTrends & Shopper Expectations to Watch Out For appeared first on Blog.
Earlier this year, we released a report, titled “The Best Vision is Insight,” outlining our predictions for the top retailtrends of 2020. Now, the newfound immediacy of the trends has, if anything, made them more insightful. If loyal consumers were becoming harder to retain, then COVID-19 has only made them more fickle.
Another, less expected, element driving the growth of this market is trendiness of tinned fish amongst Gen Z and millennial consumers, who tend to be much more adventurous, from a culinary perspective, than older generations. “A per cent year-over-year compared to this time last year.
Disruption, Responsibility and Veganism – effects on POS and retail. We’ve been saying (for what seems like many, many years) that one of the key upcoming retailtrends will be a move towards enhancing engagement in store through digitalisation. The grocery industry will look very different by the end of 2020.
That’s why retailers and their ecosystem partners can better prepare for the future by understanding where they were already headed and compare it to the new trajectories created by the coronavirus. The reported focused on long-term trends, with an eye on how they have shifted in the relatively short window of COVID-19 activity. .
Online consumer purchases are increasing, and this means more shipping. And according to the latest research from ShipStation, more consumers are demanding shipping transparency from retail businesses. Consumers Demanding Shipping Transparency. ” Image: Depositphotos.
Circular retail prompted by sustainably-minded shoppers, a revival in bricks-and-mortar demand and continued cost-conscious consumerism by price-sensitive shoppers were among the emerging retailtrends for 2023, the latest research from Sensormatic Solutions , the leading global retail solutions portfolio of Johnson Controls , reveals.
Shepard was inspired to start the brand based on his own experiences searching for such products, and he knew other consumers were looking for the same thing. Tapping into this much-underserved market has led to steady growth for Both& since it officially launched in 2020.
By keeping a close eye on customer data, you can not only adapt your offerings in real time but also predict future retailtrends and fuel new product creation centered exactly around your customers’ wants and needs. In 2020, 88% of consumers in the U.S. used coupons when making purchases.
Q4 2020 will be the most consequential retail quarter of the past 25 years. To make the most of this holiday shopping season, retailers must understand changes in consumer behavior and mindset, and reflect this understanding in their in-store experiences. Music: “We are off to grandma’s”.
By Tricia McKinnon Over the past decade direct-to-consumer businesses have popped up in nearly every corner of the retail sector. From mattresses sold by Casper to prescription eyeglasses from Warby Parker ambitious founders have taken a page from Amazon’s playbook hoping to sell goods directly to consumers online.
For consumers, that’s a lot of power. And for retailers, that’s a lot of competition. Retailers that can provide a satisfying shopping experience have a strong advantage, but consumers are a demanding bunch. With such high standards set, other retailers must now keep up. Innovate Now, Invest For The Future.
Values-based buying — consumers consciously selecting products and companies that support environmental sustainability, social justice movements and a range of other causes — was already a growing force in retail before this year’s unique combination of COVID-19 and Black Lives Matter protests. Brands are 140%.
The “Clicks to Bricks” (C2B) movement is disrupting retail, and it’s here to stay. Several years ago, a handful of direct-to-consumer (DTC) brands expanded into the physical retail space. An Emerging RetailTrend. Today’s consumers are digital experts and gravitate toward online platforms where they can shop 24/7.
The COVID-19 pandemic has also played a role in the increase in consumer snacking—an NPD s tudy found that 37% of consumers felt it was important to have sufficient snack foods on hand during the pandemic. Upcycling is both a trend and necessity,” says Camilo Bernal, Co-Founder of The Other Side of Coffee. Are they organic?
Matt Moorut, principal analyst at Gartner for Marketers , recently explored the topic of livestreaming and offered practical advice for how retailers can get the most out of it. Retail TouchPoints (RTP) : Why are consumers flocking to livestream shopping? For younger consumers, this is an extension of the way they behave online.
Have a look and see if you can incorporate these into your retail strategy. The rise of e-commerce was a massive step forward in retail innovation. Amazon responded to the need for convenient, contactless grocery shopping through the use of their Amazon Go stores , which first opened in February 2020. Social shopping.
The 2020 holiday shopping season is anticipated to be remarkably different than any in recent years, especially when it comes to where people are expected to shop — online. With this in mind, delivery, logistics and distribution of inventory need to be top of mind for retailers.
The retail market size is continuously growing. According to a report from the National Retail Federation, the US retail sales in 2020 grew 6.7% What’s more, retail trade added 4.8 trillion to GDP in 2020, reports the US Bureau of Economic Analysis. trillion during 2020 ( NRF ).
That’s what global consumers are saying, united by product trends that transcend consumer packaged goods (CPG) categories and national boundaries. Today’s global consumertrends influence e-commerce strategies, online marketplace assortments, and retail marketing trends in the U.S. December 14, 2020.
Like Janet Jackson, more consumers are asking brands, “What have you done for me lately?” In the past three months, more than 80% of consumers purchased a different brand from the one they normally buy and 44% said they would repurchase the new brand even if the original preferred brand was available again. August 4, 2020.
Though some companies have struggled to keep up, others are adapting and revolutionizing the way modern retail operates. The rise of e-commerce has encouraged businesses to rethink how they communicate with consumers and manage their supply chains. Here are some of the most significant retail shipping trends to look for in 2020.
The business restructure was driven by the brand’s desire to focus on direct-to-consumer sales and involved selling assets such as its B2B confectionary distribution business and the intellectual property of Chill Factor. billion in 2020.” ” Global supply chain challenges.
Consumers around the world either couldn’t go to their favourite restaurant due to public health restrictions or they prefered to avoid going outside altogether. DoorDash’s revenues in fourth quarter of 2020 were up 226% to reach $970 million, Uber Eats’ revenues were up in a similar fashion by 224% to reach $1.4
December 31, 2020 marked the end of the Brexit transition period, and whilst many took a sigh of relief, in reality the Brexit effect had only just begun. Many retailers are already experiencing increased tariffs and supply chain snags , putting customer satisfaction at jeopardy. The shockwaves presented by Brexit are now imminent.
Over recent years, the vegan movement has thrived and the number of vegan products available has become increasingly popular as consumers choose more ethical buying practices. And since there’s no legal definition of either of these words, which term do consumers prefer? Vegan vs Plant-Based. What’s the difference? vegan) 26.9%
One of the biggest moves Wendy’s made on Twitter was when it took its account private in February of 2020. They are all empowered to tweet in the way they best see fit and as quickly as possible which makes sense as you can’t be a star on Twitter if there is a long bureaucratic process governing what is said in each and every tweet.
2020 saw the Covid pandemic arrive and cause chaos among all manner of industries in the UK and across the world. Britain’s retail sector suffered the biggest drop in the total volume of sales since records were begun. It is predicted that over the next few years, around 80,000 retail units will close across the states.
Everyone’s lives are different now than they were before March 2020. Most retail sectors saw growth last year, especially apparel, points Neil Saunders, Managing Director and Retail Analyst at GlobalData in New York City. Now socializing and back to work are on the horizon, and consumers are refreshing their wardrobes.
In the first quarter of its 2021 fiscal year (the three months ended August 30, 2020), Nike’s direct business was up 82%. That year Nike launched its Consumer Direct Offence , an initiative “fueled by Nike’s Triple Double strategy: 2X Innovation, 2X Speed and 2X Direct connections with consumers.”
Retail is constantly evolving in many ways within each country; India is going through an interesting phase. Overall, India has managed to leapfrog so many retailtrends and is now honing its retail game to grab a larger share of the future. Theme 2: Retail’s tech tightrope. Theme 3: Networked commerce.
Whether it’s Savage X Fenty or Fenty Skin or Fenty Beauty she has done what many retailers have struggled to do, make products that appeal to everyone. Her focus on inclusivity is striking a cord with consumers because it’s authentic. Take a look at how Fenty is winning over consumers by catering to their needs in four critical areas.
Across the board, 2020 was a momentous year for us all. Retail has never faced so many changes and challenges. While physical stores have spent much of the year closed, the pandemic period has driven innovation and fueled a huge acceleration in what were just emerging trends at the start of last year. Our Position on Retail.
Welcome to consumer technology in the age of COVID, where tech gadgets of all kinds became an essential part of the way we lived, worked, learned, entertained and pretty much performed every other activity during 2020. Wellness has taken consumers way beyond Bluetooth headsets and fitness trackers. Take sleep, as an example.
and is often a driver for consumers to visit a store —especially in the convenience channel. in the four weeks ending May 15, 2022, in all multi-unit retailers. according to the Office for National Statistics’ Opinions and Lifestyle Survey in 2020, 14.5% Other retailers. Wise retailers will add them to their shelves.
Another growth opportunity is apparel which is up 50% since Nike’s 2020 fiscal year. Nike has made a move over the last several years to grow its direct-to-consumer business. If you do subscribe to our retailtrends newsletter to get the latest retail insights & trends delivered to your inbox.
How many Coca-Cola products do you consume? As consumers move away from sugary drinks they have found refuge in sparkling water. Consumers are voting with our wallets, and sugar is something that people definitely want less of in our lives,” s aid Danny Stepper, CEO of LA Libations, a beverage company incubator. Sparkling Water.
By Tricia McKinnon Amazon is a clear beneficiary of the COVID-19 pandemic with consumers rushing to shop online while retailers around the world went into lockdown and closed their doors. in 2020 across all eCommerce categories. in 2022 to reach $408.2 Things have changed. Do you like this content? Apparel and accessories.
But with people starting to leave their homes more last year, the overall consumer health industry grew by 4% in 2021, according to Euromonitor International. Hybrid products mean consumers buy less but feel they’re getting more. Today’s consumers don’t want a generic product, they want a product for them. Multi-use products.
After 2013 McDonald’s sales started to decline, from $28 billion in 2013 down to $19 billion in 2020 (pre-pandemic sales were $21 billion in 2019). The promotion first launched in the fall of 2020, featuring different celebrities every few months. Consumers, especially younger consumers are obsessed with celebrity culture.
jewelry sales were up sharply in July compared to the same month in 2020 as well as in 2019, according to Mastercard SpendingPulse. The growth was part of a larger trend in which retail sales overall grew for the 11th consecutive month. percent compared with July 2020, according to the survey. compared to July 2020.
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