How To Research Retail Trends

If I wanted to study retail trends, where could I start?

There are several different ways to find retail and sales trends:

Researching Trends by Yourself:

You can find out about current trends on a daily basis by reading industry publications such as Forbes, Business Insider, Trend Hunter, Wired Magazine and others. There are also plenty of blogs out there dedicated to covering retail trends. Use Google Trends and also look at your own sales trends data. Walk into brick-and-mortar stores, think about the physical space and wonder about the possibilities of far-out-there ideas like drone delivery.

Researching Trends with your Team:

If your company has a consumer insights or market research department, these retail executives may be tracking the key trends in the marketplace. They should know who customers are talking to online and offline, what problems people are having and what solutions are available.

Using Syndicated Research to Track Trends:

Some companies offer retailers and consumer goods companies a database of trend reports, white papers and best-in-class examples and other data points. Retail trends firm PSFK offers industry-leading reports through their IQ platform although it’s worth checking if this kind of resource already exists at your organization.

Hiring A Consultant or Analyst To Identify Trends:

Consultants and analysts often work closely with businesses to provide industry expertise and insight into emerging trends. Many consultants specialize in one or more areas of interest. Others focus on broader issues related to strategy, innovation, etc. Sometimes a company’s advertising agency can provide these services as part of their retailer. PSFK also offers bespoke services and has helped major companies understand how to activate retail trends including Apple, Facebook, Google, Microsoft and Samsung.

If you have any other questions about retail trends research, contact us via the links in the footer!