Retail in 2019 will be shaped by these five trends
The well-known IGD institution has published its report on Global Trends for 2019 and has identified five key trends that will shape the retail industry in the coming months. To clarify the report, Toby Pickard, Head of Insight, Innovation and Futures at IGD, said: “2019’s biggest trend of all is likely to be the continuation of rapid and radical change in the food and grocery industry. We have already seen a significant pivot towards innovative new technology, and there is no sign of this letting up next year. Shoppers’ expectations have changed, and the retail and grocery sectors are working to meet those expectations in every area of business.”
So what are the five major items that IGD highlights in its latest report.
- Data dictates the way: data will be one of the main building blocks of retail growth : 2018 has seen data become more valuable to the retail sector than ever, with 46% of supply chain experts now actively prioritizing data-driven business. As well as helping to boost sales, accurate data will be vital for tools that allow retailers to understand customer behavior - and reward their loyalty.
- Doing good is good businesses: firms will increasingly take the lead on sustainability. Issues such as food waste and plastic pollution are headline news, and this has translated to changing attitudes across the generations. Retailers are no longer thinking about just reducing waste, but want to make a positive, tangible contribution. The next wave of innovative and leading retailers and brands will move beyond reducing their impact.
- Seamless stores: physical stores will become more digital, and offer a more ‘seamless’ shopping experience. Physical stores will offer a much more digital experience in 2019, by using technology to make it easier for customers to find items and gain more product information. Toby Pickard, had this to say about it: “Physical stores offer customers a more tangible shopping experience, where they can see products before they commit to purchase. This gives these spaces an advantage over online providers, and we are seeing stores begin to capitalize on that and add in extras to incorporate more of the benefits of online.
- Help me be healthy: retailers will play a more active role in supporting the health and wellness of consumers. Most shoppers aspire to eat and live well, with 85% saying they are actively trying to improve their diet, but aspirations don’t always translate into action.
- Anywhere, anytime: social commerce will grow with more options for purchasing products ‘on the go’. Retailers and suppliers will deliver targeted marketing, and new ways to make online shopping more social, instantaneous, and convenient. For Toby Pickard,: “In 2019 we’ll see retailers think increasingly about making every moment shoppable. A recent innovation was easyJet making it possible for Instagram users to find and book holidays to new destinations, simply by clicking on a photo they have seen. …Whether through targeted marketing or simple ways to make purchasing more seamless, shopping is becoming not just more convenient but more instant as well.”
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Igd Igd ReportToby Pickard TrendTrends 2019 Retail