PSFK Future of Retail Report 2012
This annual survey of retail trends from the business innovation team at PSFK Labs captures and contextualizes the early stages of a seismic shift that is changing the face of the retail landscape. Big-box retailers like Best Buy and Walmart are beginning to feel the heat as sales decline in the face of stiffer competition from e-commerce giants like Amazon. 'Showrooming' is the new reality. Shoppers are more educated than ever before and the ability to check prices on the fly has resulted in increased commoditization and a rethinking of how brands and retailers go about providing a differentiated offering. The pressures that companies like Amazon and Alice.com are exerting on the marketplace have forced traditional retailers to contemplate a multi-channel approach to online, mobile and bricks-and-mortar sales. PSFK's Future of Retail Report shows that a hallmark of this changing retail environment is the savvier shopper, who takes advantage of technology, is prepared to offer their personal data for a better experience, and has come to expect contextually relevant recommendations. They are actively engaged, want a say in what products get made, will evangelize offerings to get a better price for themselves and their friends, and want to be rewarded for sharing their knowledge and expertise. In our latest version of the Future of Retail report, PSFK explores the new retail reality, taking a deeper look in the trends that are driving the change in shopper behaviors and expectations as defined by Retail on Demand and the New Brand Champion. To order a full version of the Future of Retail report 2012 please visit: http://www.psfk.com/future-of-retail
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PSFK Future of Retail Report 2012
- 1. FUTURE OF RETAIL Reinvention & Revolution: Retail On Demand & The New Brand Champions
- 5. Modern Shopper’s Expectations Sophistication Based On Personal Knowledge Prepared To Trade Data For ABetter Experience Instant Access To Expertise Takes Advantage Of Technology Wants To Be Offered A Perfect Match
- 7. THE NEW BRAND CHAMPION
- 8. “LET ME SELL ON YOUR BEHALF” THE NEW BRAND CHAMPION Setting The Stage SHOPPER AS By clearing the air before customers enter a store and calling out targeted AFFILIAT moments for valuable interactions, retailers are helping to create the foundations of a focused and worthwhile interaction
- 9. MULU.ME COMMISSION FEES EARNED BY INFLUENCING ONLINE PURCHASES
- 10. TESCO SHARING PRODUCTS ON FACEBOOK DOUBLES CUSTOMERS’ LOYALTY POINTS
- 12. BARCLAYCARD RING COMMUNITY POWERED CREDIT CARD INVOLVES CARDHOLDERS IN CARD MANAGEMENT AND PROFITS
- 13. CATERPILLAR CONSTRUCTION BRAND GETS REAL-TIME FEEDBACK FROM CUSTOMERS ON NEW TRUCK DESIGNS
- 14. “HELP ME DECIDE WHICH ONE TO BUY” Meta-Library By tapping into the wealth of online information by leveraging image recognition search and augmented reality to present detailed information and contextual relevance, users are able to use information without being tied to a specific medium or behavior.
- 15. NEEDLE SERVICE PAIRS CONSUMERS WITH BRAND EXPERTS FOR REAL-TIME PRODUCT CONSULTATIONS
- 16. KYSY VAIKKA INSURANCE COMPANY RECRUITS EXISTING POLICY HOLDERS TO ADVISE POTENTIAL CUSTOMERS
- 17. “LET ME NAME MY PRICE” Layered Virtual Showcase With a growing level of peer to peer communities that are working together and searching for service answers, the right information is being rewarded and being presented in easy formats for large groups of people to use and share. A new set of digital services are enabling shoppers to visually experience and experiment with products before they buy.
- 18. NETPLENISH APP LETS RETAILERS COMPETE TO SUPPLY HOUSEHOLD GOODS
- 19. BUYAPOWA WEBSITE PROVIDES BULK DISCOUNTS ON POPULAR PRODUCTS
- 20. Modern Shopper’s Expectations Sophistication Based On Personal Knowledge Prepared To Trade Data For ABetter Experience Instant Access To Expertise Takes Advantage Of Technology Wants To Be Offered A Perfect Match
- 23. “Give Me Personal Attention And Better Service” Service With An Opt In
- 24. NEIMAN MARCUS LOCATION AWARE APP PROVIDES SALES-STAFF WITH CUSTOMERS’ PREFERENCES
- 25. MODCLOTH STYLISTS LOOK TO YOUR PAST PURCHASES TO TAILOR ADVICE
- 26. “Teach Me How To Use This” RETAIL ON DEMAND Subject Specialist SHOPPER COACHING Staff members with specialized knowledge bases who can provide smarter answers and product recommendations to their customers in-store, online and over the phone.
- 27. MOTOMETHOD MOTORCYCLE REPAIR SHOP INVITES CUSTOMERS TO WORK ON BIKES THEMSELVES
- 28. LENBROOK EXPERIENCE ‘POP-UPS’ SHOW CUSTOMERS HOW TO ACESS HIGHER AUDIO PERFORMANCE
- 29. “LET ME SHOP WHAT I LIKE”
- 30. GLIMPSE SOCIAL SHOPPING CHANNEL USES FACEBOOK ‘LIKES’ TO BUILD CUSTOM CATOLOGS
- 31. PICKIE PERSONALIZED MAGAZINE SHOWCASES FRIENDS’ LIKES AND SHARES
- 32. “LET ME BUILD THE PERFECT ONE FOR ME” Experience Centers Best-in-class brands are creating experience centers where consumers are approached, not only as shoppers, but as sophisticated learners who are eager to engage and create
- 33. EVOLVEX CUSTOMIZING MODULAR FURNITURE ONLINE AT AN AFFORDABLE PRICE
- 34. FUJIFILM 3D PRINTING KIOSK ALLOWS RETAILERS TO OFFER CUSTOMERS PERSONALIZED OBJECTS
- 35. “HELP ME CHOOSE THE PERFECT FIT” Reading The Customer RETAIL ON DEMAND FIT WITH A CLICK Opt-in services that allow customers to make their personal data available to members of staff in exchange for the promise of tailored service, product recommendations and optimization.
- 36. UPCLOAD WEBCAM ENABLED ALGORITHM ENSURES CUSTOMERS FIND THE RIGHT FIT ONLINE
- 37. SAYDUCK AUGMENTED REALITY APP TESTS POTENTIAL FURNITURE IN CONSUMERS’ HOMES
- 40. CONTACT WHY PSFK PSFK is a trends-led innovation company that provides its clients with ideas and inspiration to evolve its products, services and marketing communications. We employ a unique methodology to deliver trends research together with future business concepts and user scenarios to a client list that includes American Piers Fawkes Express, BMW, Microsoft, InterContinental Hotels CEO & Founder Group, Target and Pepsi. piers@psfk.com +1 646.520.4672 Jeff Weiner Director, Business Development jeff.weiner@psfk.com +1 646.520.4665 +1 516.359.3453 42 Bond Street, 6th Floor New York, NY 10012 USA www.psfk.com