RETAIL TRENDS

has spotted these top five macro-trends for the year ahead...

1. SPEED, SPEED, SPEED

Fast delivery is shaping up to be a focus not just for the increasingly competitive online marketplace, but also for brickand-mortar stores, which are adopting the click-and-collect model.

2. CUSTOMER CONVERSION

As customers know what they want when they visit a store, it is important to ensure good stock levels and easy payment options such as buy-now, pay-later or contactless card systems to help convert the potential buyer into a paying customer.

3. DIFFERENTIATE OR DIE

Retail Doctor Brian Walker says this year will be less about store size and product price, and more about remarkable experiences. “Expect data technologies to drive this.”

4. CONSOLIDATION

On the horizon, expect further mergers and acquisitions as retail faces continuing challenges. Multibrand retailers in particular are likely to restructure to focus on the most profitable parts of their business, suggests Deloitte’s Australian retail lead David White.

5. SUSTAINABILITY

Retailers who can showcase their sustainability goals are likely to come out on top, winning over the socially and environmentally aware younger generation of shoppers. Expect to see more electric vehicle recharging opportunities and shopping centres boasting their carbonneutral status.

VIEW IN MY ROOMERS

Consumers want to connect the digital and the physical, visualising products before they try them and looking for immersive experiences. Greater technical offerings in smartphones drives this trend, and augmented reality is key. Global internet retailing is expected to increase by 13 per cent this year.

SLEUTHY SHOPPERS

Say hello to investigative consumers. From Gen X to Gen Z, these consumers draw battle lines, and brands are either friend or foe. Transparency is key: the purchasing journey starts with the supply chain, and consumers want to be comfortable with the final product.