Fashion

Five trends to beat the ‘at home economy’

Retail as we know it is changing. But that in itself is not ‘new’ news. Since the advent of online shopping, physical stores have seen declining customer numbers and a rise in the work that needs to be done to entice passers-by through the doors.

The pandemic and its associated lockdowns have seen a change in retail patterns again. And while the number of people visiting physical stores is starting to increase again, the emergence of the ‘at home economy’ and the priorities people are giving to their spending – from eating at home, the consumption of digital services such as video streaming, and, of course, shopping online – is a significant trend that looks set to stay. At least for the short term.

So, what can be done to encourage shoppers back onto the high street and physical stores. In this article we examine five trends that retailers could employ to buck the ‘at home economy’ and bring people back in their droves…

In our latest PPDS Retail survey, we asked our installation partners what the main uses of digital signage in retail are now, and what they believe they’ll be in five years’ time. In both, advertising was clearly dominant, scoring 85% now and 71% for five years’ time. In second place, ordering scored 28% in both timeframes.

Omnichannel marketing – creating a consistent brand and customer experience across all channels and platforms – is essential for all retailers. For retailers with physical stores, as well as competing among themselves, they are fighting back against ecommerce. In their toolkit they have something that online stores simply can’t provide – the physical experience – from feeling a product through to trying it on or tasting it.

Supporting the ‘experience’, digital signage bridges the gap between the online world and the physical. It offers a great deal of potential when it comes to in-store advertising, and it can make much more of an impact than a simple, static ad.

And building upon that experience, retailers can enhance their brand and engage their customers. How? With digital signage delivering traditional advertising messages – from offers and promotions through to aspirational visuals – augmented with the latest trends in store.

Phygital. Gamification. Big data analytics. These trends are all easily accessible and they can encourage a viral wave of visitors that online competitors will struggle to beat.

Why retail analytics make the difference

For all businesses, data is a game changer and, retail stores – both physical and online – are no exception. Data gives shop owners the head start to enhance their store’s performance. With the newest technology, using cameras featuring facial recognition and artificial intelligence, you can make significant improvements in many areas.

In this article, we will talk you through the most promising data you can use to get better insights and optimise your business significantly.