While some trends come and go, there were a few trends that have stayed with consumers throughout the year.
This week we look at how new technologies have the potential to have unique use-cases for retail stores.
THIS WEEK’S HIGHLIGHTS
- Monthly Roundup: Inside the latest trends.
- NRF2023: A recap of what experts expect to see in the coming months.
Q4 Benchmark Report: Click HERE to see how your store compares to the industry average.
FOOT TRAFFIC INDEX
FOOT TRAFFIC TRENDS
Industry insights so you can convert your foot traffic into more sales.
NRF2023: Top takeaways
In January, thousands of retail change-makers from around the world came together at the National Retail Federation’s Big Show in New York City to talk about the latest trends and innovations.
As no surprise, artificial intelligence was one of the major talking points of the event. Retailers are turning to AI for churn prediction and product recommendations based on individual preferences, while others have found use-cases for it in their marketing.
Similar to what we discussed in our blog last week, ‘Phygital’ retail or the blend between the two worlds was a major talking point of the event.
Click HERE to learn more customer experience trends from NRF2023.
Monthly Roundup
While some trends come and go, there were a few trends that have stayed with consumers throughout the year.
Similarly to what we found earlier this year, 40% of consumers are still willing to pay extra for climate-conscious products. 63% of shoppers would also recommend a product if they think it isn’t very harmful to the planet.
Security is still a major concern for many shoppers. In 2021, retail organizations saw a 75% increase in cyberattacks compared to the year before. If customers don’t feel that their personal information is kept safe, they become far less likely to make purchases at your online store.
Lastly, appointment shopping, which emerged at the beginning of the pandemic, is becoming a premier in-store experience that many customers are looking to have.
Retail Snippets.
Holdiday forecast: Why the retail sector is grappling with shifting consumer behavior.
Fast or last: Amazon launches 2-hour delivery from select Rite Aid stores.
Food games: Features and steps for gamification in the food retail industry.
Random Irrelevance
Warning signs: Why tech leaders call for a pause on ChatGPT.
Portland’s best: Two Portland restaurants named James Beard award winners in 2023.
A new perspective: Uber Eats is shutting down thousands of virtual restaurants to make the app less spammy.