“Chore” shopping continues to move online and become easier using auto renewals, one-tap purchases, and same day delivery
“Cherish” – the experiential side of retail – discovering great products and socializing with others is soaring. Adding 4,000 new stores in 2017.
Premiere independents selling innovative and distinctive products have grown by 40x over the past 5 years verses “balanced” retailers selling commonly available products.
Millennials and Gen. Z prefer the Brick & Mortar experience.
Retailers that adopt personalization for customers are the most successful. Shoppers purchasing tangible products want those items to tell a story, fit a lifestyle, and be innovative and unique.
Retailers engaging in social media strategies to tell stories and engage with fans in real time are winning.
The flattening effect of the internet allows the smallest retailers tremendous opportunity to launch and thrive. Advertising costs have never been lower because of the power of social media.
Wellness and sustainability as a core value.
95% of the $5.16 Trillion US retail business is conducted by 3.6 million independent retailers.
Luxury retail has grown by 85% over the past five years.
Total online retail commerce in the US has grown just 3% - from 6% to 9% in the past 4 years.
Brick & Mortar retail is growing faster than GDP – at 4% a year – or an additional $36 Billion in the next 3 years
Sources: Deloitte Retail Renaissance Report, The Great Retail Bifurcation – Deloitte, National Retail Federation, Vend Retail Trends Report, Retail Trade Industry Spotlight-Select USA.gov, www.statista.com
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