The pandemic has impacted many sectors, including retail. It has made it clear that shops must reinvent themselves or die and, when talking about the future of retail, one concept has been repeated in recent times: phygital retailing.
How will retail design work in 2023? That is the question that a large part of the sector, just a few weeks before the end of 2022, is asking itself.After the paradigm shift with Covid-19, accelerating and modifying consumer buying habits, as well as consumption itself and the values pursued by the customer, 2023 will involve taking on new realities. Therefore, at CAAD we want to anticipate the retail trends of 2023, with a special focus on business design and the challenges that the industry faces in order to transform itself once again.
The design of commercial spaces is not a trivial matter. The personality of the brand, the shop windows, the lighting, the product, the customer service… everything counts to create a memorable shopping experience.However, once we have managed to get the customer to enter our establishment and buy, we must continue working to find out what they liked the most and what they did not like. Only then can we continue to improve and increase sales. For this, the best tool is retail intelligence.John Lennon said that life is what happens while you make plans. Well, while most companies continued with their business plans in retail, we have had to live a pandemic caused by covid-19 that has changed EVERYTHING.
Much more demanding, purchasing decisions, especially between millennials and Generation Z, no longer only depend on the amount and quality of the product or service, aspects related to sustainability and ethics are also valued.To continue fulfilling consumer demands, all companies in the retail sector and the business world in general, are changing their philosophy and way of doing business to be more sustainable. Because for consumers it not only matters that brands do well, they want them to give the best of themselves and not only worry about economic aspects, but also monitor their social and environmental impact.To sum up, consumers want companies to be sustainable. In this article we want to reflect on the state of sustainability in the retail sector and whether it is a trend or a reality that is causing the sector to change in favor of responsible and sustainable consumption and to meet the demands of the youngest and most demanding public: Millennials and Gen Z.
If the global pandemic caused by covid-19 has made something clear to us, it is that confinement has changed consumer behavior.Given the impossibility of not leaving home but with the same needs (or even more, as a result of more free time to play sports, eat, cook ...) electronic commerce has become the perfect ally to make purchases with just one click, without setting foot outside the home. At the same time, the industry suffered from the slowdown in economic activity.The retail sector has been greatly affected by the coronavirus from different areas and perspectives: starting with the stoppage in industrial production and the drop in sales throughout the confinement, until the need to adapt factories and physical establishments implementing new measures of safety, hygiene, cleanliness and health. All of this, in turn, has led to the need for resilience to adapt to the new lifestyle.
In the previous article we presented 6 innovations in the retail sector that have turned the way customers are introduced to the shopping experience, these are:
- Virtual shelves
- Differentiated spaces
- Automatic check-out
- Loyalty program innovations