Disruptive trends that will change the future of the retail

The pandemic was, in the beginning, a disaster for the commercial world. Closed shops, empty restaurants and deserted shopping streets worldwide have resulted in a significant loss.

Consequently, the ability to switch to online sales was a critical survival factor during the first wave of the pandemic. COVID-19 proved to be an incredible challenge for the retail industry. However, technology has brought a great deal of progress and improvement throughout 2020 and 2021. On top of that, disruption in the digital space has wholly reshaped shopping, online experiences, and even customer expectations in physical stores. Learn more about the impact of COVID-19 in Belgium. 

Omnichannel is key in retail

More and more customers are using multiple channels during their customer journey. Moreover, according to research, customers that used more than four channels during the purchasing process, spend on average 9% more time in-store than customers who only used one channel. Request your free whitepaper Omnichannel Marketing Strategy.

Supporting local shops remains important

The biggest unexpected positive effects of 2020 were the revival of local shopping areas. Customers were no longer willing to visit the larger shopping centers and mainly shopped locally. For example, a trend that emerged on social media in 2020 was the #supportyourlocals. Therefore, we expect the desire to shop locally will continue in 2021.

Customers want sustainable products & social justice

The Corona pandemic has accelerated the importance of this trend. Consumers find it essential that companies are sustainably optimizing the production chain but also using recycled materials. The increased transparency due to globalization also means that social justice (based on fairness, equality and respect for diversity) is becoming increasingly important.

Personalization is the norm

To compete in one of the most competitive industries out there, companies must personalize the shopping experience. But how? In practice, a personalized experience can mean, for example, that customers see an advertisement on their smartphone, exactly when they are near your store or when they have searched for products that you sell.

Some critical tools for personalizing the shopping experience are AI (Artificial intelligence), chatbots, Virtual reality, digital wallets, etc. Learn more about retail media.

Marketplaces continue to grow

Marketplaces such as Amazon, Bol.com and Zalando are more and more used by customers nowadays and impact the retail industry. This is because the marketplaces offer a very high level of services, such as fast delivery and good customer service.

Consumers appreciate these services and they expect the same from smaller retailers. However, smaller companies can not always meet these sky-high expectations. For retailers that offer their brand, selling via marketplaces gives advantages such as direct access to a vast audience and it requires a smaller investment of money and time than with your webshop. As a result, marketplaces expect to continue to grow in the coming years.

Tiffany is a passionate marketing consultant with strong communication skills. She has a first experience at L’Oréal in Corporate Communication and Product Management. Followed by experience in the retail sector at ISFI spices. She is a real team player, with an open mindset, emphatic approach and eye for detail. Tiffany loves to take on new challenges with a positive attitude, motivation and dedication.

Want to know more about Tiffany? Feel free to start a conversation with her on LinkedIn.