What To Expect In Retail In 2023

Key Topics

With Local Curation strategy, visiting the stores could easily be a part of the city’s sightseeing and help shoppers understand and engage with very local nuances. Retailers are reflecting their neighborhoods’ vibes and residents’ lifestyles via thought-through store design, targeted services and careful product curation. Embracing the strategy, brands appear as an integral part of the local community that supports the residents in their very own specific needs. Merging the trend with purpose-driven initiatives focused...

Grocery stores and supermarkets are using retail media to provide opportunities for new revenues. The retail media concept allows the store to use its existing point of sale systems, such as cash registers, self-checkout kiosks and even in-aisle displays, to provide additional information about products in the store. This includes advertisements, recipe suggestions, nutritional information, and any other content that might be relevant to consumers. Retailers can also earn revenue from their social media presence...

Accustomed to the customization of immersive worlds and the unlimited information and product options available across digital storefronts, consumers now expect the same level of responsiveness from retail stores. To meet these expectations, retailers are connecting consumers’ profiles, allowing them to seamlessly save and share their preferences and details as they navigate from online to the store to an app, allowing for personalization regardless of the channel or location. By connecting digital portals to physical...

Retailers are championing the experience economy by adding play zones to their physical store locations. The imaginative experiences span demographics and age groups, and aim to increase loyalty and shopper ROI by adding an element of engaging fun to the shopping journey. Providing memories families and even adults can’t wait to return to is one way brick-and-mortar can build an experiential moat and competitively differentiate against online commerce.

To authentically, honestly and impactfully connect with their consumers and communities, retailers are actively ensuring that a diverse range of voices are being heard, from the top down, and at every stage of product, marketing and community development. By creating advisory councils, boards and positions within their own organizations or partnering with those outside of it, retailers are not only signaling to their consumers that their experience is valued, but also taking measured steps to...