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PSFK Future of Retail 2016 Summary Report

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Download a full version of the report at:
www.psfk.com/report/future-of-retail-2016

Built on a robust study of trends and patterns in the market, the 6th edition of PSFK Labs’ Future of Retail report offers a directional playbook for brands and retailers – defining 10 pillars to build a modern and engaging shopper experience strategy and go beyond expectations to create an enhanced shopper experience and therefore, build value, drive sales, and boost loyalty.

Featured within the 80+ page report, readers can find:
- 10 actions every retailer can adapt to redefine the shopper experience
- 20 key trends driving change in the marketplace
- Future service concepts for top brands
- Perspectives from leading retail experts across the globe

If you are interested in seeing a presentation of this report or would like to understand how PSFK can help your team ideate new possibilities for your brand, contact us at sales@psfk.com

Vol. 6 | Published November 2015
All rights reserved. No parts of this publication may be reproduced without the written permission of PSFK Labs.

Published in: Retail, Marketing
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PSFK Future of Retail 2016 Summary Report

  1. 1. DESIGNING THE NEW SHOPPER EXPERIENCE PRESENTS The OF FUTURE RETAIL 2016 @PSFK | #FutureOfRetail SUMMARY LABS
  2. 2. GET THE FUTURE OF RETAIL 2016 The 6th annual report delivers insights on how to design the new shopper 
 experience to build value, drive sales 
 and boost loyalty. -10 actions every retailer can adapt to redefine the shopper experience -20 key trends driving change in the marketplace -Future service concepts for top brands -Perspectives from leading retail experts across the globe -Plus an 80+ page full presentation Download a full copy of the Report at: psfk.com/future-of-retail Access all Reports and Debriefs as a PSFK Members: psfk.com/membership
  3. 3. ABOUT THE REPORT Piers Fawkes Founder & Editor-In-Chief PSFK.com & PSFK Labs Over the last five years we have witnessed a radical shift in shopper behavior fueled by the seismic impacts of mobile and social. For our sixth edition of The Future of Retail report, I wanted to provide new guidance to all of the companies actively lining up their omni- channel shopping experiences in place. Companies must look beyond traditional systems and devices and focus on the design of an intuitive and customized shopper experience. They must provide both utility and education to their customers with a narrative and program rich retail experiences that drive sales. This report will help us all to understand the opportunities for developing a shopper narrative and apply the lessons to their work so we create a new era of engaging, relevant and vibrant retail. LABS Volume 6 | Published November 2015 Download a full copy of the report at: psfk.com/future-of-retail
  4. 4. DESIGNING THE NEW SHOPPER 
 EXPERIENCE Scott Lachut President of Research & Strategy, PSFK Labs In a multichannel marketplace, with infinite information available at the tap of a screen, brands both big and small selling through Facebook, Pinterest and Instagram, and mobile alerts promising the next and the newest, today’s consumers are flooded with more options of what to buy and where to buy it from than ever before. Emerging technologies and their impact on consumer expectations require companies to take a different approach to retail, regardless of channel or platform. While utility and relevance form a solid foundation, retailers and brands must strive to deliver more to truly capture the hearts and minds of today's shopper. By tapping into an ecosystem of partners and a community of fellow customers, they can create a powerful halo effect, generating value for all who participate. In the Future of Retail 2016 report, PSFK describes the 10 Pillars of the New Shopper Experience and the key trends that are driving their adoption in the marketplace. Through the exploration of innovations in service, technology and design we highlight the ways leading retailers, brands and startups are responding to the demands of consumers and differentiating themselves from the competition. Expert insights and analysis offer further guidance as you look to inspire your organization and develop a forward-looking retail strategy.
  5. 5. THE NEW SHOPPER EXPERIENCE @PSFK | #FutureOfRetail Winning the hearts and minds of today’s shoppers can’t be accomplished with one- off tactics, marketing campaigns or points- based rewards. Instead brand and retailers must develop a broader process that considers the core needs of shoppers, delivering utility, value and meaningful interactions at every point along their journey. The graphic below visualizes four key stages in the shopper experience lifecycle, showing how the 10 pillars identified in our study inform and build off one another to create a comprehensive strategy for driving increased engagement, repeat sales, word of mouth and lifetime loyalty.
  6. 6. 10 PILLARS DELIVERING THE NEW SHOPPER EXPERIENCE CREATE CONFIDENCE PERFECT PARTNERSHIPS ELIMINATE OBSTACLES OPTIMIZE OWNERSHIP DEMOCRATIZE ACCESS CULTIVATE COMMUNITY RECOGNIZE & PERSONALIZE ENCOURAGE ADVOCACY PROMOTE TRANSPARENCY DELIVER DELIGHT @PSFK | #FutureOfRetail ENHANCING THE PURCHASE PATH BUILDING BETTER RELATIONSHIPS CREATING A VALUABLE COMMUNITY ELEVATING THE TOP TIER
  7. 7. READ THE FULL REPORT The 6th annual report delivers insights on how to design the new shopper 
 experience to build value, drive sales 
 and boost loyalty. -10 actions every retailer can adapt to redefine the shopper experience -20 key trends driving change in the marketplace -Future service concepts for top brands -Perspectives from leading retail experts across the globe Download a full copy of the Report at: psfk.com/future-of-retail
  8. 8. ACCESS INNOVATION PSFK membership provides you a constantly updated database of over 50,000 ideas for you to leverage as you build the future. PSFK Membership includes access to: •360+ Innovation Stories Monthly •Archive of over 55,000 Ideas •All PSFK Published Debriefs And Reports •Events and Networking Opportunities Become A PSFK Member to access all 
 PSFK Labs Reports: psfk.com/membership PREMIUMPURPLEBASIC
  9. 9. ABOUT PSFK LABS PSFK Labs is an innovation agent. We leverage the research skills, expert network and editorial reach of PSFK.com to offer consulting and thought leadership services to the world's most future forward companies, helping them develop new products, services, and ways to interact with their consumers. PSFK Labs has worked with Apple, BMW, Google, Nike, Red Bull, Samsung, Target and many other leading brands. The team also brings to life the themes of our Future of Retail reports with ideation workshops and immersive trend tours. If you are interested in seeing a presentation of this report or would like to understand how PSFK can help your team ideate new possibilities for your brand, contact us at sales@psfk.com
  10. 10. DESIGNING THE NEW SHOPPER EXPERIENCE PRESENTS The OF FUTURE RETAIL 2016 @PSFK | #FutureOfRetail SUMMARY LABS

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