Retail Industry Trends 2019 Archives - Business Intelligence

Tag: Retail Industry Trends 2019

Retail industry trends

Top Retail Industry Trends that will Soon Go Mainstream

Staying nimble is one of the key traits to succeed in today’s retail sector. Change is the only constant in the retail sector, and to stay relevant and prevent themselves from being overpowered by their competitors, companies in the sector must keep a close watch on the rapidly transforming retail industry trends. The proliferation of digitization has made several top retailers alter their existing processes and embrace digital transformations to ensure consumer convenience. This has helped them adapt to the latest retail industry trends and gain the ‘early-bird’ advantage. Let’s take a look at some of the biggest retail industry trends that are already shaping up in top retail markets around the globe and will soon become mainstream.

Feeling left behind amid the rapidly changing retail industry trends? Request a free proposal to know how we can help your business identify service gaps and adapt to the changing market forces.

Retail industry trends 2020

Growing popularity of multichannel approach

Since the advent of e-commerce, its capability to overthrow brick-and-mortar stores has been a popular topic of debate. However, this hardly reflects how the modern customer wants to shop. Todays consumers tend to check the prices of a product online and then go to the brick and mortar store to understand the look and feel of the product. This is one of the key reasons why multichannel is becoming one of the popular retail industry trends. Giving customers the options to make the purchase either online or offline gives a retail company an added advantage compared to others who offer to sell only on either one of these channels.

Ecommerce capabilities on social media

Retail companies have increasingly started targeting customers on social media platforms to make purchases. Some popular social media platforms are now also offering ecommerce capabilities such as shoppable tags which allows users to view the price or product name. Although this is not yet one of the popular retail industry trends, retail companies can expect shopping on social media to go mainstream over the next few years.

Get In touch with a retail industry expert from Infiniti Research to know how we can help you overcome key business challenges.

Pop-up stores

Pop stores have become a popular retail industry trend that aims to build brand awareness and generate a buzz around new products or offers launched. This trend can be beneficial for both established as well as young brands to promote their products. While the big retail companies benefit from having a buzzy brand onsite, and young retail brands are exposed to a larger, more diverse customer base.

Ethical and value based shopping

New age shoppers like to feel good about the products that they are using and tend to provide more support to retail sector companies that cares about the greater good. This makes customers feel like they are a part of this initiative and are supporting a good cause. Several brands have already begun playing their part in CSR and other measures to promote societal well-being.

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A Window of Opportunity to Win Customers in Central Europe’s Retail Sector

Retail sector

Central Europe’s retail sector: An overview

Central Europe is a highly value-oriented market where consumers strive to find new ways to stretch their budget without having to compromise on quality. Consumers in this market are constantly on the lookout for the best deals that both online and offline channels in the retail sector have to offer. In fact, in most Central European countries, promotions are becoming relatively commonplace. However, for companies in the region’s retail sector, winning consumers does not only mean merely offering mediocre-quality products at entry-level prices.

The most successful retail sector companies in Central Europe are those that are successful in finding ways to provide added value while keeping prices low. This can be achieved by improving product quality, offering a larger assortment, or providing a seamless and satisfying customer experience. Although the region is going through a phase of financial insecurity due to recent recession, this does not mean that only inexpensive products attract Central Europeans. As consumers in Central Europe are increasingly becoming omnichannel shoppers, they are educating themselves more on price and on product features. Companies in the CPG and retail sector must, therefore, ensure a consistent, value-oriented presence across channels establish a brand value for themselves in the future of retail in Central Europe. In addition, they must also act on some key priorities.

Consumers in Central Europe are in the search for the best value-for-money deals. Is your business prepared to meet the changing demands of consumers in this market? Request a free proposal to learn how our advanced market intelligence solutions can help your organization effectively tap market opportunities and stay ahead of the curve.

retail sectorInvest in ‘value for money’ brands

CPG and retail sector companies are rapidly offering higher quality or even premium products at mainstream price points. Private labels have become one of the most popular retail industry trends with several retail sector companies launching premium quality private label products and heavily investing in their advertisements. Advertisements can be used as a source to communicate emotional cues to consumers in order to make private labels an everyday household name while promoting the idea of value for money.

Expanding assortments

Companies in Central Europe’s retail industry are providing broader assortments in products to appeal better to consumes. Grocers, for instance, are providing variants including vegetarian, organic, and vegan products. Following this trend will be especially useful for fresh food and prepared meals categories. Retail sector companies can also experiment with introducing newer store formats by expanding their offerings in fresh produce, ready-to-eat meals, and grab-and-go snacks.

Wonder how you can achieve consistency and successfully adopt a value-oriented approach to win over consumer trust and loyalty? Get in touch with our experts for more insights on how we help clients across the globe to effectively achieve their business goals.

Digital technology to enhance CX

Retail sector companies and CPG manufacturers alike are investing in technology to enhance their omnichannel presence. Hypermarkets are incorporating more digital technology into their stores to help shoppers explore broader online assortments. They can also incorporate the use of digital kiosk that suggests specific items, depending on the occasion, food pairings, or customer preferences. These efforts will drive customer loyalty and offer a superior customer experience.

Final thoughts

Consumers in Central Europe are a new breed of shopper. They remember the past, were affected by the recession and are quickly trying to embrace a technological revolution. Consumers in this market are characterized by their nature to seek value for money, are extremely demanding, and expect superior technology and customer experience while shopping. As Central European consumers now have much higher expectations of retail sector and CPG companies, both offline and online, companies in the region have little choice but to innovate constantly across channels. Several have risen to the challenge; the rest should act soon or risk losing out to agile competitors.

For more insights on Infiniti’s solutions for retail sector companies, request for more information.

Retail industry

Overcoming Challenges in Retail with Infiniti’s Solutions – A Storyboard Series of Success Stories

Lower unemployment and tax cuts have fueled the growth of the retail industry over the past year. According to the retail industry experts at Infiniti Research, 2019 will be a precarious year for players in the retail sector. As the stock market is in flux, the future of retail is expected to be dominated by steepening tariffs. Furthermore, another intriguing retail market trend is emerging markets are taking on a greater share of global growth. This could also present several opportunities for savvy retailers who are willing to face the winds heads on.

Infiniti’s solutions to overcome challenges in the retail have helped several established brands to enhance their overall performance and drive greater business growth. This newsletter offers a snapshot of some of our success stories and how our experts helped clients overcome some major risks facing the retail industry.

Attracting new customer groups for a fast-fashion retailer using market opportunity analysis

Recently, several fast-fashion retailers have had to wind up their operations due to their inability to cope up with the dynamic market trends and ever-changing consumer demands. This has acted as a wake-up call for other players in this segment to reinvent their strategies to survive. This success story is a great example of how brands that have the courage to self-disrupt will emerge as winners. Our client, a fast-fashion retailer based out of Central America wanted to attract new customer segments and wanted to identify the right marketing channels to invest in. With our market opportunity analysis, they were able to effectively target the right customer groups and thereby increased their targeted segment spend by 19%. They were also able to reverse their declining sales in less than 60 days.

Using customer buying journey maps to identify untapped opportunities

Personalization of customer experience is becoming vital for companies in the retail industry to retain their customers. To do so, retailers will need to map their customers’ journey from awareness to the purchase stage. This is where the importance of customer buying journey maps come into play for companies in the retail industry. A German retailer wanted to devise personalized product offerings, develop better marketing strategies, and drive sales. Experts at Infiniti provided the client with a customer buying journey analysis solution and devised strategies to help them personalize their marketing and sales strategies to drive maximum sales. By identifying the right marketing channels to target customers the client was able to drive customer engagement and enhance ROI by 23%.

Competitive pricing analysis to boost sales and enhance profit margins by 19%

Companies in the retail industry resort to different pricing strategies based on their unique business goals and other key factors affecting their business. However, increase in the number of competitors in the market is increasing challenges in retail especially when it comes to setting prices for products. The client is a renowned company in the Canadian retail industry. The company was facing predicaments in pricing their products in line with the current market demand and adjust to the competitors’ pricing structures. Our competitive pricing analysis solution focused on identifying how similar products of the same category are priced in the Canadian market. This helped the client to identify the optimum price at which they can set their products to attract more customer while making steady profits. As a result, the client was able to overcome challenges in retail pricing and increase their profit margins by 19% in one year.

Reducing customer churn by 37% for a European retailer with customer needs assessment solution

The European retail industry is growing exponentially and presents huge opportunities for retail companies around the globe. Despite this steady growth, rising need for convenience and rapidly changing market realities are making it vital for retailers to understand customer needs and analyze their buying patterns. Our client is a well-known brand in the European retail industry. They noticed a steady decline in sales and consequently increasing customer churn in their business. They wanted to identify the prime reasons for them and overcome the key retail industry challenges coming their way. Infiniti’s customer needs assessment solution helped the client identify their customers’ unmet needs and demands. They also gained detailed insights on the product features that drive product purchase. With this, the company in the European retail industry was able to reduce customer churn rate by 37%.

retail industry

The Reasons Behind Soaring Private Label Success in the European Retail Industry

In the European retail industry, there is currently an unprecedented prominence of private labels. According to our industry experts, the sales and market share of private label brands have climbed to an all-time high in countries including Belgium, Netherlands, Austria, Denmark, Poland, Sweden, and Norway. Our experts believe that some of the key drivers behind the success of private labels are the expansion of retailing around the world, the emergence of e-commerce, the success of discounters, and changing millennial shopping habits. Furthermore, Private labels allow companies in the retail industry to offer something distinct to their customers. With intensifying competition in the retail industry, private labels have grown to include exclusive products aimed at increasing brand loyalty.

Brands in the retail industry should always be on the lookout for opportunities to better serve their customers. Request a free proposal to know how we can help you capitalize on the right market opportunities.

retail industryThe rise of millennials

Millennials are expected to outnumber baby boomers over the next decade as the generation with the highest discretionary spending power. Millennials are known to be experimental in trying out new products and consequently, private labels are becoming increasingly popular among this group. They demand products that do more, provide greater convenience and offer a variety of lifestyle options and are known to undertake extensive research before buying products. Loyalty to established brands in FMCG cannot be expected from millennials. As a result, almost all major retailers in Europe have developed sophisticated private label programs that give tough competition to established FMCG brands.

Attractive and meaningful packaging

Modern retailers have realized the importance of attractive and meaningful packaging and generally, they have been succeeding in using packaging to get the right message across to shoppers. In the case of private label, it is mostly up to the retailer to set the specification, and there has been some heavy investment in packaging solutions. Apart from increasing the market share, private labels have also undergone stratification with the rise of premium and mid-range offerings besides the traditional bargain ones. Stratification has been in practice over several decades. Today, however, we can see stratification based on factors including organic, natural, gluten-free, and value-based.

Private label is a secret weapon for retailers today. To use it right and maximize its potential, experts at Infiniti can help you as it has done with many companies in the retail industry. Get in touch with us for more insights.

Health-conscious customers

The UK is a market where players in the retail industry use private-labels to reinforce an already-strong store equity position. The major supermarkets’ strategy has been to grow private-label sales. This can particularly be seen in fresh foods, while reducing the range of packaged goods. Retailers are gradually expanding their private-label brands to include healthier options, including for consumers with special dietary needs, and recommends looking for opportunities to remove, reduce or replace undesirable ingredients in their prepared foods. The benefits are also being prominently highlighted on packages and with in-store signage.

Ecommerce boom

Private labels are being disrupted on many various levels due to the rise of ecommerce. Several top ecommerce companies are fragmenting the path to purchase and opening new opportunities for private labels. E-commerce platforms are opening up many doors to expand the sales of private labels.

Learn more about Infiniti’s solutions for companies in the retail industry

Competitive pricing analysis

Winning in the German Consumer Market: Top Retail Industry Trends to Track

retail industry trendsRetailing in Germany is going through major transformations as consumers are increasingly becoming accustomed to the new retail trends in the market. Although the German retailers are widely known in the international markets, especially in the US in the context if their entrance into the North American market, the domestic German retail sector is also as sophisticated and competitive as other international markets with their own unique set of challenges and opportunities. In this blog, experts at Infiniti provide comprehensive insights on the current German retail industry trends.

Identify hidden opportunities in your target markets, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

Top retail industry trends in Germany

Discounters emphasizing on customer experience (CX)

In some key German retail outlets also known as ‘no-frill discount stores’, pallets of products go straight from the backroom to the sales floor. However, with the changing retail industry trends in Germany, these retailers are beginning to emphasize more on improving customer experience in retail. Furthermore, supermarkets in this region have been investing heavily into private brands in order to steal the market share from discounters. As a result, the boundaries between traditional supermarkets and discounters are becoming less clear in the German retail sector.

Increasing value of omnichannel retail

Increasing mobility and a greater number of informed customers are making digitization one of the popular retail industry trends in Germany. As a result, German retail companies have increasingly identified the need to possess the agility that comes with an effective omnichannel strategy. However, most of these retailers lack a sense of direction that is required to make their omnichannel strategy successful. The industry is now waiting to see if these retailers will develop clear strategies and begin investing more into their omnichannel strategies or refrain from selling online.

Gain competitive intelligence about market leaders, track key industry trends, opportunities and threats with our advanced market intelligence solutions. Get in touch with our experts for more insights on our solutions.

Introduction of Amazon fresh

There is some indication Amazon Fresh may be scaling its operations in the United States, but it is a relatively new concept to German consumers and is now being piloted in a few large cities like Berlin and Hamburg. Amazon Fresh delivers groceries directly to consumer homes in temperature-controlled bags. This year online sales in Germany saw a rise compared to the previous year, but it remains to be seen how consumers will respond to specifically ordering groceries online.

The aging German shoppers

The German population is growing older and this is making a significant impact on the retail industry trends in the market, affecting how retailers sell. To cope up with the changing retail industry trends, German retailers are rethinking store layouts, making product packaging easier to read, and putting benches in stores, all in an effort to better serve older customers and enhance their customer experience.

Learn how our solutions can help you stay updated with the latest retail industry trends

food packaging market

Achieving Savings of $3.2 Million for a European Retailer | Infiniti’s Latest Market Trend Analysis Engagement

Infiniti’s Market Trend Analysis Engagement for a Retail Company

The European retail industry is rapidly evolving as consumer centricity is becoming mainstream. Also, the advent of experiential retailing and personalization is creating huge opportunities for companies in the retail industry. However, these increasing opportunities and innovations in the market necessitate retail companies to stay abreast with market innovations and changes. This is where companies realize the importance of leveraging market trend analysis solution. Infiniti’s market trend analysis solution has helped various retail industry giants to analyze the evolving retail industry trends and respond to the ongoing market changes to meet customers’ needs at a faster pace.

Request a FREE proposal to learn how market trend analysis solution will help you identify the latest trends and innovations in the market.

Business Challenge

The client is a retail company based out of Europe. With shifting consumer preference, increasing technological innovations, and changing dynamics of the retail marketplace, the client was facing difficulties in analyzing the latest retail industry trends and market opportunities. Their inability to respond and innovate according to the latest trends and ongoing market changes resulted in huge financial losses for the company. The company even witnessed an unexpected rise in their customer churn and this further resulted in a dip in their overall sales. The client, therefore, approached the experts at Infiniti Research to leverage their expertise in offering market trend analysis solution.

With Infiniti’s market trend analysis solution, they were also looking to:

Revamp in-store experience – With experiential retailing becoming mainstream in the European retail market, the client wanted to revamp their in-store experience by understanding the latest retail industry trends and customer preferences.

Personalize shopping experience – Personalization has been one of the major retail industry trends that have been on the rise since the past few years. Therefore, with Infiniti’s market trend analysis solution, the client wanted to understand shifts in customer perception of value to personalize the shopping experience for them.

Understand changes in European retail industry – With Infiniti’s market trend analysis solution, the client also wanted to identify market trends in terms of product development and marketing initiatives.

Solutions Offered and Value Delivered

To help the client understand the retail industry trends and market opportunities, the experts at Infiniti Research followed a three-phased approach. The engagement involved analyzing the latest innovations in the European retail industry, understanding how the client’s competitors adapted to evolving trends and market changes, and identifying the needs of target customers.

The insights obtained from Infiniti’s market trend analysis solution helped the client to understand the latest changes and market innovations taking place in the European retail market. Also, the client was able to understand how customers reacted to these evolving trends in the market. Infiniti’s market trend analysis solution also helped the retail company to understand how their competitors were adapting to these market changes and innovations.

With Infiniti’s market trend analysis solution, they were able to respond to the ongoing market changes and revamp in-store experience to attract customers. Furthermore, understanding the demands and requirements of their customers helped the client to personalize the shopping experience for them. Also, the client was able to understand the potential demand for their products and identify attractive investment opportunities.

With Infiniti’s trend analysis solution, the client was able to enhance sales, reduce customer churn rate by 44% and achieve savings of $ 3.2 million in a year.

CONTACT US to know how our market trend analysis solution will help you identify trends in terms of product innovation, competitor product features, and marketing approaches.

Retail Industry Trends 2019

TOP RETAIL INDUSTRY PREDICTIONS FOR 2019

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