What can we expect from another fascinating yet challenging year in retail? With retail being one of the industries to really feel the impact of the pandemic, 2021, looks like another rocky year for retailers. In this interview, the second on this topic, this time with 92.9’s Jarrad Brooke, we discuss the following four key areas and the impact on traditional bricks and mortar stores.
1. A return to instore shopping. During Covid, customers turned to online shopping in droves. However, with shopping being one of our favourite pastimes, we’ll see shoppers returning to stores to experience the personal interactions that only physical stores offer.
2. Fewer but better stores. We’ll see more stores closing as the problems of last year bite retailers hard. Stores that thrive will need to tap into emotion and human connection, using discovery to excite and embrace their community.
3. Shop local. With consumers now used to shopping local, smaller stores can thrive by offering great products in a fresh updated environment with outstanding customer service.
4. Personalised offers. Using big data to identify shopper trends, retailers will be able to drive highly personalised offers by predicting buying habits based on trends.