6 trends that are shaping the retail sector
Today, disruption has impacted almost every aspect of business as a new relationship between companies and customers has taken center stage. The retail industry has been undergoing a radical shift over the past few years. Driven by reshaped customer expectations, the availability of data and the rise of new tools and technology, new business models or market dynamics have emerged. Just take automated stores, virtual showrooms or D2C (Direct to Consumer) models, for example, such as Dollar Shave Club (men’s beauty-care), Barkbox (pet utilities) or Casper (mattresses). The go-2-market has also been impacted, as the customer experience needs to be increasingly personalized: Consumers today are hooked on the real-time, customized world of digital landscape, while retailers have to reach them in new and exciting ways. On top of that, customers are demanding more sustainable businesses (shopping local, healthy food, cultural diversity)… raising new challenges for marketers in the retail industry. Enters corona… For some retailers it means filing for bankruptcy, for others it means coping with the growth by fixing internal processes,… for all it means showing resilience, creativity and courage to reinvent the way they work and adapt to this new reality. Corona has clearly accelerated some shifts in consumer behavior that retail marketers should take into account. We share 6 trends to get you started!