Experience, in the end, wins it all, isn’t it? No matter how much hype e-commerce has gained over the years, and immense money that is invested in improving a customer’s shopping experience e-commerce lacks the feel. The touch of the product, the assurance of quality and client satisfaction that is achieved in the high-street retails of choosing well and informed, is giving high-street retailers an upper hand in the competition.
Clearly, retail businesses were tamed by the power of e-commerce. In fact, just last year in 2018, about 35,000 people lost their jobs in the UK alone due to the shutdown of the high street shops. It is staggering and apparent of the defeated condition of big retail brands.
But when all seems to go wrong, suddenly there came good news for the retail sector. We are sensing three new consumer trends in the market that are apparently very beneficial in driving the fate of the retail industry.
The fateful Three
Having foresighted the trend already, we really hate to burst your bubble but it is all too necessary. There have been major internal speculations predicting the future of retail lie within e-commerce. But however, viable it may sound it is not the ultimate salvation. Not taking more time we will directly take you towards the future of high street retail.
1. Everything with ‘Uber’ Filter
The on-demand economy is driving like crazy; Uber has become a tried and true example of how one tap on the mobile screens can give so much more. Suddenly everything is getting ‘Uberified’ and every industry is using the same formula to success. From takeaway meals, cleaners, taxi to everything and anything relative to service has an app.
Likewise, retail industry too is looking forward to the same uberification. According to a survey, about 38% of shoppers expect delivery on the same day or with 1 hour of the purchase.
‘Click and Collect’ thus is one of the major trends that can alter the fate of high street shops. Breeding a whole new host of opportunities of high street retailers, options such as in-store collection or 1-hour delivery are likely to help them grow a lot.
2. The Shift of Powers Between online-offline
With people using the power of technology to always be uptight with the trends and new development in the retail industry. There is a growing trend in which people are browsing and learning from online products and buying them offline. Thus this online-offline shift of power is likely to become an ultimate savior.
No more being threatened by e-commerce with the use of ‘uberification’ and careful execution of online-offline benefits any retailer today can live a more free life.
In-store shopping trend has some staggering 146% consumer rise in the researches such as shop near me, where can I buy and much more. Now marketing 30% people want to buy in-store than online.
3. Importance of Experience
We told you at the beginning itself, the experience is the key. So not so much of a surprise but when we look at the whole picture it is something of increasing importance. Purchase decision and product selection thus are something that is very much cherished by a buyer.
The population “Z” or the millennial already love this shopping phenomenon. It is becoming a sensation providing the shoppers the value in their product decision making.
Other than these trends on micro-levels a lot of are happening in providing and promoting the easy shopping experience to clients. Technology, experience and thus informed and evolved consumer behavior are thus to drive the trends making it easy of high street retail to make an impactful comeback in the market.
Pre-evaluating market trends Miraj Group also is coming up with the big investment shopping mall concept- Miraj Meridian in Nathdwara, which is going to the first luxury mall of Rajsamand.