Haygarth Future trends for retail

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Haygarth Future trends for retail

  1. 1. Future Trends for Retail Nine key trends and the technology that will influence future consumers and shoppers Alex Fennemore Senior Planner Haygarth alex.f@haygarth.co.uk @aphlex www.haygarth.co.uk
  2. 2. The future is exciting… But let’s not get too carried away. There’s amazing stuff happening out there but it’s important to recognise that the mass market are not early adopters. And whilst the cutting edge will be pushing boundaries farther than ever before there will still be a huge market for traditional retail service. High tech bad service is still bad service.
  3. 3. Sources of inspiration research
  4. 4. 9 key trends Oneline Mobile technology Individualism Transparency Local community “Retail-tainment” Retail technology Ethics & environment Self service
  5. 5. Advancements in mobile phones Multimedia convergence has been talked about for a number of years but the growth of smartphones is accelerating this trend. Devices are increasingly becoming multimedia computers and future developments in their capabilities will have a huge impact on retailers. Shoppers can have instant access to a wealth of information when they makeAugmented reality a purchase decision. Augmented Reality on phones Such as price comparison and reviews, not just what the retailer or brand are telling them. Phones are not just purveyors of information but also media touchpoints too, leading to a whole host of targeted communications based on behaviour and geo-location. This will only increase as smartphones move towards mass adoption. Holographic projections
  6. 6. Transparency “Personal recommendations and consumer opinions posted online are the most trusted forms of advertising globally” Nielsen 2008 Transparency is the freedom of information. The connected world has empowered consumers to seek out information at the click of the mouse. The transparency trend is a maturing theme that is set to become more and more powerful. With smartphones as the portable facilitator, customers now expect to instantly find product information, customer reviews and price comparisons for all their purchases.
  7. 7. That’s retail-tainment Retailers and brands are providing richer, more entertaining consumer experiences to capture customer attention. As goods and services become commoditised and as quality goods and top quality service becomes expected, the way that retailers can differentiate themselves is through staging events. A company should use their services as a stage and goods as props to engage individual customers in a way that creates a memorable event. As some products become more complex and therefore requiring greater level of service and assistance in store, greater emphasis is put on staff engagement. In short the stores of the future will be a form of entertainment as well as shopping especially in the UK where shopping is as much a pastime as sport or going down the pub.
  8. 8. Retail Technology Advances in retail technology will help transform the retail environment and cater for new customer expectations. We’ve already seen the likes of Microsoft Surface in stores, expect to see more digital and interactive display Digital POS solutions. RFID technology, already in mass usage, will become more commonplace in retail and consumer products. Enabling instant recognition of customers at every touchpoint allowing displays to be tailored for specific customers in and out of store - like 4D CRM. Social media aggregators pulling info from web, videos, price matching – transparent pricing & customer reviews posted in real time, in store, to give searchable ratings. Improved EPOS, stock systems and centrally or locally RFID Microsoft Surface controlled digital POS will free up staff to spend more time interacting with customers.
  9. 9. Self-service Self-service technologies free up time for staff to be selling, demonstrating and/or creating that more memorable experience for customers. In-store vending machines for lower interest categories. The capability to pay with your mobile phone using Near Field Communication or SMS to ease queuing in busy times. Holographic and/or augmented reality displays to help shoppers. NFC payment
  10. 10. Oneline - the merging of Online and offline Online retailing has thrown down the gauntlet to traditional retailers and highlighted a number of areas where high street stores under perform. Consumers see the online and in-store arms of retailers as one brand, not as different often competing departments. Consumers are using the (mobile) internet to research, visiting stores to experience and going back online to find reviews, and price comparisons. Successful retailers will merge the best What ONLINE does best What IN-STORE does best of online and offline in both Open 24/7 Experience real products environments so they provide the best Easy search and comparison Take the product home with you consumer experience wherever you shop. Reviews and pricing information Social interaction Not pressured to buy Recommendations given for you
  11. 11. Individualism The growing trend of individualism will continue as technical advancements allow products and services to be customised to personalised tastes. Shoes, t-shirts and even M&Ms are already available. There are a number of sub trends here with some customers wanting to express their own creativity while others want brands to “Do-It-For-Me”, either way mass market globalised products are starting to be customised.
  12. 12. Local & Community As part of the backlash against globalisation and the monotony of high streets, customers and retailers are increasing turning to local suppliers and engaging in community based activity. Technology is redefining the meaning of local – local is not just about geography but also about opinions. Communities are no longer limited geographically and online groups are exploiting their crowd power to be heard and get what they want. Location based social media such as Foursquare and Gowalla will also enable opportunities for marketing to be done on a hyperlocal and personalised basis – providing it’s relevant and not done because it can be.
  13. 13. Ethics and Environment Although predictions about the longevity of this trend are mixed (because it should become business as usual rather than a trend), there is no doubt brands are falling over themselves to prove their eco credentials. Consumers have been willing to accept inferior products to support the cause, but are increasingly expecting their eco products and services to be superior and comparably priced to non-eco alternatives. This won’t just affect products – retailers will need to make sure they pay attention to what consumers care about and the environmental/ethical role they are playing with the products they range and the stores themselves. The iPhone app gives consumers instant information on products while standing at fixture in store by scanning barcodes for health and environmental ratings. A great example of 3 trends merging together (technology, transparency & ethics) is the GoodGuide. A website that lets consumers get detailed environmental, health, and social info on more than 50,000 products and companies in US.
  14. 14. In summary These key trends will influence consumers lives and will therefore impact on retail. Products considered pure science fiction just a few years ago are now a reality and for each new innovation, countless new possibilities are unlocked. Possibilities that not only can entertain customers but also free up staff to interact more with them The retail environment has found itself playing by completely different rules and the advent of online retailing has turned age old traditions and practices on their head. Traditional retailing is in many ways playing catch up. Successful retailers of the future operating in a permanently connected world, will have to evolve quickly and seamlessly with the wants and needs of its customers to avoid being very quickly found out and subsequently ignored. For those that do pay attention, they will be able to convince customers to see their store as the enjoyable way to shop. Whether that’s due to increased efficiency or a better more enjoyable experience this leads to a competitive advantage in the shopping centre or on the high street.
  15. 15. HAYGARTH GROUP LTD ('THE COMPANY') terms & conditions of business 5. Company obligations The Company promises to supply the Goods and Services using reasonable skill and care. The Company will also use all About these Terms & Conditions: reasonable endeavours to follow the Client’s instructions and to faithfully reproduce any information supplied by the Client. - they apply to all business conducted between the Company and the Client, and all other Terms & The Company will make every effort to ensure that any marketing communications campaigns it designs on behalf of Conditions are excluded unless they are in writing and signed by an authorised representative of the Company; the Client comply with the relevant statutory requirements and voluntary codes normally applied within the advertising, - variations can only apply if agreed in writing by a Director of the Company; sales promotion and direct marketing industries, including, but not restricted to, the Advertising Standards Authority -they are to be construed and have effect according to English law and the Client and the Company shall submit and the British Codes of Advertising and Sales Promotion. any dispute to the exclusive jurisdiction of the English courts; - if any Condition or part of a Condition is held to be unlawful or unenforceable, the rest will still apply. - variations to these terms purportedly agreed by e-mail shall not be contractually binding unless, and until, The Company shall treat as confidential all information (written or verbal) supplied to it by or on behalf of the Client in relation confirmed by non-electronic hardcopy in writing and signed by a Director of the Company. to the Services, unless such information is in general circulation. The Company has the right to use as it sees fit any general marketing information obtained in relation to the supply of the Services. The Company will keep with care any materials entrusted 1. Definitions to it by the Client and will return them on completion of the Services if so requested by the Client. If the Company recommends ‘The Client’ means anyone who receives a cost estimate, submits a brief, places an order or buys any Goods or Services a supplier with whom the Client contracts direct, the Company shall not be liable for the performance by that supplier of its duties from the Company, and includes their staff, agents and subcontractors. under the contract, and the Client shall satisfy itself as to the supplier’s suitability. The Company shall not in any event be liable ‘The Services’ means anything that the Company does for the Client at their request. for any consequential loss or loss of profits suffered by the Client. The Company shall not be liable or deemed to be in breach ‘The Goods’ means anything that the Company purchases on behalf of the Client at their request. of this contract by reason of any delay in performing, or any failure to perform, any data downloads, website maintenance or development obligations in relation to externally hosted websites if the delay or failure is due to any cause beyond our 2. Quotations reasonable control. All quotations and cost estimates are based on information available at the time. Any subsequent additions, alterations or corrections requested by the Client will be subject to additional costs. Acceptance of the quotation 6. Client’s obligations/indemnities is deemed to imply acceptance of these Terms & Conditions. Where timescales are specified in the quotation the The Company relies on the accuracy of information and instructions provided by the Client. Any statements of fact provided by the Company will use all reasonable endeavours to comply with the timescales. Client should be correct and able to be objectively substantiated, and any statements of opinion provided by the Client should be reasonably and honestly held. The Client must inform the Company without delay if they consider that any claim or trade description 3. Invoices/payment in any communication relating to the Client’s product or service is false or misleading, and must be able to support any claim Invoices are payable within 28 days of the date of invoice. Any invoice queries must be made in writing within 15 days made with objective factual evidence if required. The Client must ensure that all information concerning their products which of receipt of invoice. The Company reserves the right to charge interest at 4% above the NatWest Bank base rate from is required by statute to be displayed, is so displayed. The Client shall ensure that no work commissioned involves the infringement time to time, calculated monthly, on any invoices not settled within 28 days. Some projects may require payment in of a patent, registered design, copyright or other property right. The Client accepts all liability and shall indemnify the Company advance for certain Goods or Services; this will be clearly stated on the cost estimate and invoice, and the Client agrees in respect of any claims, costs, damages, or proceedings brought against the Company, caused by or relating to the supply of the to pay these invoices immediately on presentation. Delivery of the Goods or Services may not be made by the Company Services (including, but not limited to, any breach of the Client’s obligations under this clause), unless these are directly due to unless such advance payment has been received. In the event of cancellation or termination of a contract, the Company negligence by the Company. This indemnity includes costs and expenses incurred by the Company, and shall continue after has the right to charge a cancellation fee to cover the work done up to the date of cancellation, and any costs incurred termination of the contract. or contracted up to that date. 4. Repeat fees Please note that the level of agency fee quoted for any project is based on that project being run once only, unless otherwise 7. Copyright agreed in writing. We therefore reserve the right to charge additional fees should any of our concepts be repeated, with or The copyright on all designs, concepts and artwork created by the Company belongs to the Company unless otherwise agreed without our input or assistance, such fees to be not less than 75% of the original agreed agency fee unless otherwise agreed by a Director in writing. If any such designs or concepts are used by the Client without the Company’s agreement, or for in writing. Any additional implementation fees will be negotiated according to input required. a purpose other than that for which they were originally commissioned, the Company reserves the right to charge a fee for such use. 8. Suspension/termination If any circumstance whatsoever which is outside the Company’s control causes a delay in providing, or inability to provide, the Goods or Services, the contract will be suspended until the circumstances cease. The Company will keep the Client informed of the situation at all times, but will still be entitled to payment for work done up until the circumstance occurred, and will not be held liable for any loss caused by such circumstance. The Company reserves the right to terminate any contract by written notice to the Client, if the Client consistently fails to settle invoices by the due date, or after written requests for payment, or if in the opinion of the Company the Client at any time becomes unlikely to be able to pay debts as they fall due, without affecting any of the Company’s other claims or rights under these Terms & Conditions.
  16. 16. HAYGARTH DESIGN LTD(‘THE COMPANY’) About these Terms & Conditions: 5. Company obligations - they apply to all business conducted between the Company and the Client, and all other Terms & The Company promises to supply the Goods and Services using reasonable skill and care. The Company will also use all Conditions are excluded unless they are in writing and signed by an authorised representative of reasonable endeavours to follow the Client’s instructions and to faithfully reproduce any information supplied by the Client. the Company; The Company will make every effort to ensure that any marketing communications campaigns it designs on behalf of - variations can only apply if agreed in writing by a Director of the Company; the Client comply with the relevant statutory requirements and voluntary codes normally applied within the advertising, - they are to be construed and have effect according to English law and the Client and the Company sales promotion and direct marketing industries, including, but not restricted to, the Advertising Standards Authority and shall submit any dispute to the exclusive jurisdiction of the English courts; the British Codes of Advertising and Sales Promotion. - if any Condition or part of a Condition is held to be unlawful or unenforceable, the rest will still apply. - variations to these terms purportedly agreed by e-mail shall not be contractually binding unless, and until, confirmed by non-electronic hardcopy in writing and signed by a Director of the Company. The Company shall treat as confidential all information (written or verbal) supplied to it by or on behalf of the Client in relation to the Services, unless such information is in general circulation. The Company has the right to use as it sees fit any general 1. Definitions marketing information obtained in relation to the supply of the Services. The Company will keep with care any materials entrusted ‘The Client’ means anyone who receives a cost estimate, submits a brief, places an order or buys any Goods to it by the Client and will return them on completion of the Services if so requested by the Client. If the Company recommends or Services from the Company, and includes their staff, agents and subcontractors. a supplier with whom the Client contracts direct, the Company shall not be liable for the performance by that supplier of its duties ‘The Services’ means anything that the Company does for the Client at their request. under the contract, and the Client shall satisfy itself as to the supplier’s suitability. The Company shall not in any event be liable ‘The Goods’ means anything that the Company purchases on behalf of the Client at their request. for any consequential loss or loss of profits suffered by the Client. The Company shall not be liable or deemed to be in breach of this contract by reason of any delay in performing, or any failure to perform, any data downloads, website maintenance 2. Quotations or development obligations in relation to externally hosted websites if the delay or failure is due to any cause beyond our All quotations and cost estimates are based on information available at the time. Any subsequent additions, reasonable control. alterations or corrections requested by the Client will be subject to additional costs. Acceptance of the quotation is deemed to imply acceptance of these Terms & Conditions. Where timescales are specified in the quotation the 6. Client’s obligations/indemnities Company will use all reasonable endeavours to comply with the timescales. The Company relies on the accuracy of information and instructions provided by the Client. Any statements of fact provided by the Client should be correct and able to be objectively substantiated, and any statements of opinion provided by the Client 3. Invoices/payment should be reasonably and honestly held. The Client must inform the Company without delay if they consider that any claim or Invoices are payable within 28 days of the date of invoice. Any invoice queries must be made in writing within 15 days trade description in any communication relating to the Client’s product or service is false or misleading, and must be able to of receipt of invoice. The Company reserves the right to charge interest at 4% above the HSBC Bank base rate from time to time, support any claim made with objective factual evidence if required. The Client must ensure that all information concerning calculated monthly, on any invoices not settled within 28 days. Some projects may require payment in advance for certain Goods their products which is required by statute to be displayed, is so displayed. The Client shall ensure that no work commissioned or Services; this will be clearly stated on the cost estimate and invoice, and the Client agrees to pay these invoices immediately involves the infringement of a patent, registered design, copyright or other property right. The Client accepts all liability and on presentation. Delivery of the Goods or Services may not be made by the Company unless such advance payment has been shall indemnify the Company in respect of any claims, costs, damages, or proceedings brought against the Company, caused received. In the event of cancellation or termination of a contract, the Company has the right to charge a cancellation fee to cover by or relating to the supply of the Services (including, but not limited to, any breach of the Client’s obligations under this clause), the work done up to the date of cancellation, and any costs incurred or contracted up to that date. unless these are directly due to negligence by the Company. This indemnity includes costs and expenses incurred by the Company, and shall continue after termination of the contract. 4. Repeat fees Please note that the level of agency fee quoted for any project is based on that project being run once only, unless otherwise agreed in writing. We therefore reserve the right to charge additional fees should any of our concepts be repeated, with or without our input or assistance, such fees to be not less than 75% of the original agreed agency fee unless otherwise agreed 7. Copyright in writing. Any additional implementation fees will be negotiated according to input required. The copyright on all designs, concepts and artwork created by the Company belongs to the Company unless otherwise agreed by a Director in writing. If any such designs or concepts are used by the Client without the Company’s agreement, or for a purpose other than that for which they were originally commissioned, the Company reserves the right to charge a fee for such use. 8. Suspension/termination If any circumstance whatsoever which is outside the Company’s control causes a delay in providing, or inability to provide, the Goods or Services, the contract will be suspended until the circumstances cease. The Company will keep the Client informed of the situation at all times, but will still be entitled to payment for work done up until the circumstance occurred, and will not be held liable for any loss caused by such circumstance. The Company reserves the right to terminate any contract by written notice to the Client, if the Client consistently fails to settle invoices by the due date, or after written requests for payment, or if in the opinion of the Company the Client at any time becomes unlikely to be able to pay debts as they fall due, without affecting any of the Company’s other claims or rights under these Terms & Condition

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