“Speak to any consumer in our major global cities, and they will describe a world of convenience, from click-and-collect to fulfillment within hours. But they will also think and express the new face of physical experiential retailing – and for our island economy, this wave of consumer lifestyle experience is crucially now on the horizon.”
The above paragraph is from an article by Brian Walker, CEO of Retail Doctor Group. It was published in Linkedin a week ago and its timing at the start of a new year and the relevance to all forms of retailing including market trading, makes for compelling reading.
“Retail specialisation rather than generalisation will be paramount in 2019.”
The emphasis on specialty retail and the importance of convenience are just two ingredients that will ring bells with some of our recent discussions on Victraders.
“Specialty retail will focus on curation, with a greater focus on retail metrics and customisation. Savvy retailers will be building more ‘play’ into their shop experiences.”
“…… convenience in the future may relate to payment technologies, store opening hours, or other assistive technology in the pipeline. Whatever the case, the drive for convenience is likely to persist.”
At the completion of his article Brian Walker predicts “At the niche community end, the community high street, done well, will start its climb back into relevance” and surely that is the link to market trading.
Our success may we depend on how well we excite customers through retail experiences, and meet their need for convenience.
Read the full article here: A look at the future of retail in 2019 and beyond