New year, New Innovation
As we are all aware, retail innovation is constantly evolving and its key to stand out with new ideas and giving the customer a unique and memorable experience whether they are displays in store, art installations, exhibitions and more.
This can cover everything from established brands testing new customer experience to the changing face of delivery. Retailers of all sizes are pushing to stand out and rightfully so.
To get a head start on the market, lets mark up a few key themes to look ahead at what forces are likely to be shaping retail in the next coming months.
What retail innovations are on the horizon for 2020?
- Augmented Reality
From incorporating emerging technologies, AR really will help spice any shopping experience for customers. This can help with developing events to support a launch of your products, be included in a shop window as the store display, an AR zone in store to entice customers to the shop floor, at exhibition shows to allow potential customers onto your stand – or at least to create a talking point! AR will merge entertainment, engagement and buying habits which happen both physically and online.
Mega-brands like Target, Lowes, and Amazon have launched AR features that allow shoppers to picture furniture in their homes. With the AR market anticipated to reach $133 billion by 2021, smaller retailers are undoubtedly close behind.*
- Service deliveries
Brands sometimes struggle with bringing in new ideas to physical personal touches, but it is simple. They can be anything from subscription boxes, personalised clothing and pop-ups. One-of-a-kind products are a classic symbol of personal touch – having something that nobody else has. The ways in which Retailers deliver their service to their customers has rapidly evolved. As the changing face of service takes hold, everyone from independent to iconic luxury brands are looking for ways to do things slightly differently. Bricks-and-mortar stores and Ecommerce alike are offering more options than ever to customise customers purchases. These include anything from monograms and embroidery to fully unique colour schemes. Customisation lets shoppers purchase a product tailored specifically to their style and needs.
As an example, Levi’s offers their own personalised embroidery service for their jeans and denim jackets, whilst NIKEiD let’s their shopper’s customers their trainers which will create a completely unique shoe, just for them.
- Pop-up shops and temporary concessions
Pop-up shops and temporary shopping destinations have increasingly become the go-to destination that influencers and celebs love to attend, as well as members of the public. According to Storefront, temporary retail is expected to generate $80 billion on an annual basis.**
Pop-ups present exclusivity, a sense of VIP and gives a great opportunity to showcase products either before the official launch or at the time of, as well as showcasing the branding like no other which should include innovation, creative thought and practical execution.
Temporary storefronts and pop-ups bring exciting leverages of never seen products which will then provide an experience that drives sales.
From Highstreet to High-end luxury brands, retailers of all sizes are constantly popping up across the world to compete in the industry. These flawlessly designed and curated shopping destinations engage customers and encourage new revenue, interaction and general social marketing for the brand!
Although the future of retail in 2020 has only just begun, its already starting to take shape. There is space for leadership to drive innovation amongst brands to utilize trends and technology. Amongst the listed trends above and examples on how retailers can bring innovation, digitalisation, peer and influencer marketing, as well as experiential shopping – presenting to all of us that the core denominator is technology.
It is proven that technology will lead to new opportunities and expansion in your business and at Pivotal we have access to all products and ways which will bring your brand to life. With our combined many years of experience working with clients across the globe, we can bring digitally lead innovation to all display enquiries – no project too big or small.
- Posted by Emma Thorpe