As we stated in our last retail article, the retail industry is not dying and it never will.
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Yes it’s showing changes, yes it’s our turn to reassess, modify, and improve…
Consumers will always look forward to shop for testable products and services:
Swimsuits, vehicles, prescription glasses and sunglasses, appliances, shoes, among many others.
Shopping behaviors may be changing and retail players are changing, too—some more quickly than others.
Retail sales numbers shows the consumer is out there buying all sort of testable things.
This is why Amazon is entering the point of purchase floor, both retail and e-commerce complement each other.
As the economy has been gaining strengh again since the 2008 recession, retail sales figures also have been growing.
People are consuming, the first quarter of 2017, retail sales tipped an estimated of $1.25 trillion, according to the Census Bureau.
That’s an increase of 1% from the fourth quarter and a year-over-year increase of 5.1%. Consumers spent around $64 billion.
That was more in just the first trimester of this year than in the entirely of 2016, and it wasn’t because of higher prices but because of people had cash in their pockets.
So where is the problem? The cost of keeping open thousands of stores for certain big companies and certain types of products is getting unattractive compared to a single e-commerce.
Also consumers are turning into the screen to buy those kind of products making big retail companies file bankruptcy just to be able to reshape their focus.
Scaparato is a premium custom store fixtures manufacturer click here or contact us for more information.
Custom store fixtures are the key to success…
Are the retail floor owners going to destroy their buildings and start an agriculture business?
No… they are renting spaces to other rapidly growing areas, there is a huge opportunity here for small businesses with other types of products and services that are gaining strength.
Consumers are enhancing their eyebrows, making their nails at retail kiosks, looking for innovative products and new technologies such as drones, they are testing their apple electronic devices, or they’re looking for last minute gifts for birthdays and other important dates.
They are also buying all sorts of candies, desserts, ice cream, coffee and other everyday consumables while they hang out with their families, friends and girlfriends among others.
Foot traffic at shopping centers, malls and earnings reports are far from crashing down, as we said it is rapidly changing.
As always there will be the ones that better adapt better and others that don’t…
Retail survivors are adapting their own business models and strategies to attract the consumer to a totally new shopping experience.
Drinking wine or champagne while clothes being brought to you.
Testing your new mattress in a fancy warehouse or your next car picking you up at home for a test drive and down the agency to check all of the model versions.
It’s all about better and more efficient ways to create new experiences.
And this is all happening around digital minds: millennials and now generation Z consumers whose sense of reality around them is digitally based.
But it turns out both generations like to go to stores and malls for specific buying and social activities.
They need a dynamic brick-and-mortar sector with focus in new more efficient experiences both in look and function.
They still need and want to see, touch, and feel products and services, and they also want the immediate gratification of taking those new things home perfectly suited for them.
For what activities are you going to the malls? Please comment, share and wait for our next edition where we will analyze the most active products and strategies at the point of sale.
*Scaparato a top notch retail fixtures manufacturer and a specialized professional designer.
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