5 Retail Trends That Will Shape 2017 | shop4pop.com
5 Retail Trends That Will Shape 2017

5 Retail Trends That Will Shape 2017

2016 might have been the year of uncertainty but as we start the new year, we’re looking ahead to what the future holds for the retail sector. Sales for November’s Black Friday weekend topped expectations, and it seems that the UK population is showing no signs of slowing down when it comes to spending – which is promising news for retailers looking to see big sales in 2017.

With consumer needs and shopping habits continually evolving, the changing face of retail means marketing and merchandising strategies must follow suit and adapt to the trends. That’s why today, we’re bringing you a comprehensive guide to how retail trends will affect the industry in 2017. From identifying the modern consumer’s needs to taking a look at how the latest technology could be incorporated into the retail industry, our experts will be giving you all the need-to-knows for maximising profit in your store.

1. Seamless shopping with mobile payments

As a nation, we’re obsessed with our smartphones, and with the development of mobile payments, our mobile phone usage is now spilling over into our shopping behaviour. The simplicity of contactless card payments means that it’s easier than ever for consumers to keep on spending – and with the contactless mobile wallet taking easy spending to a new level, more and more of us will be changing the way that we pay. Apple Pay and Android Pay may be a relatively new phenomenon, but with the annual transaction of mobile payments forecast to reach 780 US dollars in 2017, retail predictions suggest that many of us will ditch the physical wallet altogether in 2017.

As well as being a secure and convenient payment method for shoppers, retail industry experts have identified that the most successful mobile payments will go beyond the standard digital wallet. With loyalty card rewards already driving repeat business in retail, it’s the merchants connecting their loyalty schemes with mobile payments who will have the edge with this rising trend.

2. Less will be more when it comes to the store

The sheer size of e-commerce and the option of same-day delivery means shoppers have become used to a convenient and efficient shopping experience. Online shopping means consumers have the option of browsing a range or searching directly for a particular item, and if you want your physical store to follow suit, it could be time for a refit.

With so much going on on the high street, both baby boomers and millennials are looking for a shopping experience that’s not only focused on ease – but also personalised. The retail industry has identified the needs of modern shoppers, and as we enter into 2017, it’s both retail giants and independent boutiques that are focusing on the idea that less is more. Whether it’s a smaller-format store that offers specialised services or a curated product range, a simple shopping experience will fulfil the consumer’s purchasing needs and encourage them to return in the future.

Instead of retailers blowing their budget on an expansive retail space, an interactive POS display and series of customisable dump bins will make a visual impact at a much smaller cost. As they leave the store, the simple yet effective store design will mean that it’s your brand that customers remember – and their repeat business will mean your smaller-sized store can generate much bigger profits.

3. Omnichannel experiences will continue to grow

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With new technology evolving and improving each year, retailers are all too aware of the importance of embracing the digital age. Accessing audiences online is fundamental for building brand awareness and encouraging e-commerce in the modern day, and retail experts say that these omnichannel experiences will only grow in 2017.

Augmented and virtual reality has fast become a global phenomenon – 2016 was the year of Pokémon Go after all – and the retail industry is keen to get in on the digital action. From utilising artificial intelligence to creating virtual fitting rooms, 2017 promises seamless shopping experiences that will blur the boundaries between reality and virtuality.

With technology holding the power to entice customers both online and into the brick-and-mortar store, it’s crucial that retailers are up-to-date with everything from loyalty reward apps to incorporating interactive touch-screens at the point of purchase display – as well as prompting purchasing decisions with eye-catching FSDUs.

4. The rise of retailtainment

With 2016 marking the second consecutive year of significant growth in experiential marketing, immersive brand campaigns and in-store experiences have fast become an integral aspect of modern retail. And while experiential marketing continues to push boundaries, the tactics and techniques of creating the consumer experience are guaranteed to evolve: and it’s retailtainment that’s set to dominate.

A fusion of retail and entertainment, retailtainment is all about providing the customer with a truly unique shopping experience. With retailers incorporating lifestyle elements into their store, retailtainment provides even more of an incentive for consumers to pay you a visit. The combination of shopping and entertainment opportunities keeps consumers interested as they make their way around the store, and the customer’s engagement with this one-of-a-kind experience will mean that your brand is remembered long after they’ve left the store.

Driving footfall and encouraging additional in-store spending, there’s no doubt that retailtainment will be a big part of the future for physical stores. Whether it’s a boutique coffee shop, quirky cocktail bar or a virtual reality experience, experts in the industry are placing their confidence in the success of retailtainment in 2017.

5. Retail-centric and third party apps

Whether it’s in-store or online, modern day consumers will always want to get their hands on the products in the quickest and most convenient way. From easily accessible products on retail display stands in physical stores to social shopping on Instagram, the ease of sale goes hand-in-hand with the likelihood of the consumer’s purchasing decisions.

The rise of online shopping significantly changed the way that we spend, but with the constant development of social media services and e-commerce platforms, trends suggest that 2017 will be the year of a new shopping revolution. With brands and online influencers using Instagram and Snapchat to encourage the population to purchase products, retail-centric and third party apps have come up with a solution that transforms social media into an e-commerce environment.

Retail-centric companies like Tapshop and Like2Buy provide a third party service where shoppers can tap a product featured on their feed and head to the checkout in seconds – which means it couldn’t be easier to appeal to the impulse buyer online as you transform your Instagram account into a virtual store.

The growth of 2016’s annual sales indicates that consumers are showing no signs of slowing down with their spending, and with cutting-edge technology at the forefront of the shopping experience, 2017 will no doubt be an exciting year for the retail industry.

Are you ready to see a rise in sales in your store? From redesigning your retail displays to creating an e-commerce environment on Instagram, it’s time to tap into the biggest retail trends for 2017! Browse our collection of point of sale displays online, and when you’re ready order your customisable FSDU with shop4pop.com.

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