Future of Retail Special Report
Online shopping may have grown significantly during lockdowns, but lots of people are returning to stores at the soonest opportunity. Reports of the demise of traditional bricks and mortar retailing appear to be premature, for the time being at least, but retailers that want to survive will need to provide consumers with a high-standard blend of online and traditional shopping options.
‘Nobody knew what the circular economy was a few years ago, but really it’s just common sense’
Second-hand shopping has been rebranded as thrifting or vintage; the growing trend is to reuse, recycle and repair to extend products’ lifecycle
Technology now underpinning most stages of purchasing journey
Everything from houses to pets now has some form of technology underpinning the purchasing journey
Retailers look for tech advantage in an omnichannel world
Retailers are responding to new trends in shopping by integrating their sales channels to provide a unified experience
With data collection at an all-time high, online retail is increasingly individualised
Technology just part of the story as ‘it’s all about psychology and neuroscience’
‘Ireland has a strong consumer base and a high level of disposable income, making it attractive to retailers’
What does the Irish retail landscape look like now and into the future?
Removing Friction: Bypassing grief for the ‘cognitive and effort misers’
Friction is often triggered in retail spaces due to a lack of speed of service
Let’s get phygital – retail is buying into tech to keep customers happy and margins secure
From virtual shelves to augmented reality, the smart brands are doing it
How physical stores are fighting back
‘With the power to buy whatever you want at your fingertips, it’s more important than ever for retailers to offer customers an experience that’s worth leaving the house for’
Consumers are nervous but retail holding its own
Spending is increasingly happening on the high street as well as online and experts believe online and in-store shopping can now coexist
Filling the marketing funnel
Consumers are looking at what everyone else is thinking. They are looking at social media reviews, comparison sites, Amazon reviews - these are a lot more convincing than what a brand says about itself
Retail therapy: ‘Greenwashing’ crackdown, virtual banking and AI yet to make full impact
What the future of retail looks like for Ireland
Younger shoppers more comfortable with social shopping
If your business is not on social media you are missing out, writes Jillian Godsil
How retail has changed forever
Stores need to look ‘Instagramable’ and offer an ‘unforgettable experience’ as retail moves towards ‘omnichannel’ trading, say experts
It can’t be a choice between affordability and sustainability
Retailers also need to have accurate facts and figures to hand when it comes to the environmental impact of their products, as this is what consumers are demanding
Inflation poses challenges for retailers
Sector is also having problems finding staff, driving up competition for resources and costs
Is this the end of cash as we know it?
As more payment options crop up every day, cash is going out of style
Lifelines for a sector struggling following lockdowns
Wage support and online retail schemes have provided vital support for retail
Brexit’s impact on Irish retail is far-reaching, but there are positives
Irish firms can recover by marketing local credentials and courting new markets
Data on consumers an increasingly precious resource for retailers
But GDPR has changed the game and businesses must ensure they get it right
Bricks and mortar retailing far from dead – but now it’s just part of the mix
Consumers still have an attachment to the physical shopping experience while new online shopping habits will persist
Designist: ‘We saw a whole new set of customers find us online’
Dublin gift shop hasn’t looked back since switching focus during lockdown
How omnichannel shopping is changing the face of Irish retail
What is omnichannel and why do Irish retailers need to embrace it?
‘Sales flooded in’: How a small boutique coped with lockdown
Deids Mahon of Quack and Dirk delivered items for free everyday on her bike
Pandemic proves retail staff need to be adaptable and resilient
There are many skills required for the sector, but communication is key
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