2011′s Retail Trends
Zeitgeist was asked at the end of last year to write an article on retail trends for the coming year. The following is an altered excerpt of the original article…
It’s surprising to read editorial describing us as still being in a recession. If you’re going to use economic terminology, then you have to listen to economists when they say the recession ended months ago. The trouble now is dealing with the aftermath – impending cuts and taxes. Evidently it’s not all gloom though, as new stores Dior, Mulberry and Miu Miu join the salute to capitalism that is Louis Vuitton’s Maison on London’s Bond Street.
Look for more brand collaborations. Disney’s venture with Tesco is bold and innovative… Savile Row’s Gieves and Hawkes recently installed a space for barber Gentleman’s Tonic, and vintners par excellence Berry Brothers has a concession for Lock and Co. Both instances suggest a deep insight into who their shopper is; useful for the brand, flattering for the shopper. With empty high street retail spaces, the time is right for sage collaborations, bringing brands added security.
Digital integration will become more widespread, aiding both in brand building and simplifying the customer journey. More people are expected to be surfing via phones than computers by 2015. This swing constitutes an immediate opportunity for retailers and marketers. Since helping Obama to victory, crowdsourcing has only gained in popularity. The Louvre recently fundraised through thousands of individual donations online to buy a coveted Renaissance painting. The power of many, prognosticated in “The Wisdom of Crowds”, is driving ideas like Groupon, as well as its subsequent offer for purchase by Google.
It’s going to be a make-or-break year for Foursquare et al. There have been interesting campaigns by all sorts, from Marc Jacobs to McDonald’s. What’s missing is seamless integration of these services with retail environments. ‘Checking-in’ has got to become a utility for shoppers outside London, New York and San Francisco. Currently, opportunities to create conversations are being missed.
Twitter’s retail presence will continue to grow, evinced by Best Buy’s Twelp Force and Debenham’s Twitterers flitting about stores. Multi-platform interaction can be enhanced by the physical retail environment: Diesel pulled off a fun gimmick last year with a screen outside the changing room allowing customers to upload a photo of themselves to Facebook to query friends on their clothing choice. Neiman Marcus recently merged online and in-store inventories, a great idea that others should emulate. Allowing people to browse products in-store on an LCD screen without the pressure of exasperated sighs from sales assistants can make shopping enjoyable and convenient. Chanel’s Manhattan flagship has such functionality; it could be of equal use at B&Q.
Getting someone to linger in your space and mention the experience to others is what counts. Pop-ups, if they serve a purpose rather than being a gimmick, can be a tremendously effective – not to mention fun – tool. Don’t underestimate fun. Emphasising convenience alone means most people – especially when the odd flurry of snow arrives – will shop online at home. There must be an element of excitement, innovation. This can be escapist, like Secret Cinema, or pure enjoyment like Muji’s vending machine (see top photo). Pop-ups can provide an excuse for an otherwise serious brand. They help in getting a message to new audiences (Gagosian’s pop-up), or taking the store to the customer (Natwest’s mobile truck).
So, more collaborations, more digital and more pop-ups; so what’s new? As William Gibson once said, “The future is here, it’s just not very evenly distributed yet”. Embracing digital won’t stop people price-checking and tweeting negative remarks, but it would be worse to keep it – and therefore the customer – segregated. If that happens, and you promote on convenience alone, that customer never comes to your store and never sees a physical embodiment of the brand. Last November, as Zeitgeist previously reported, Ralph Lauren was one of the latest brands making use of 4D projection mapping. People cheered at animated handbags and ties. In 2011, Mintel advises, “brands may need to get more creative to lure consumers into stores, offering more than just retail and be a venue, not just a shop.” I’ll leave you with that thought while I go and cheer at a sandwich in my local “venue”.