It is an obvious fact that the face of retail is changing in 2023 and its transformation is visible on all levels.
This conversion brings together two originally separate boundaries: online and physical commerce.
Between e-tail and retailtainment, new codes are being set to adapt to changing consumer habits 🛍
Major retailers are striving to conform to these new benchmarks aimed at improving the shopping experience.
So, what are the new retail trends for 2023 and why should we adopt them?
Spotlight on shopping and retail trends ✨
On the agenda:
- An omnichannel shopping path
- The recommendation: circular economy and CSR policy
- The customer experience is moving upmarket
- Retailtainment: to engage and better support customers
- Social media are gaining ground
- AI, one of the trends in retail 2023
An omnichannel shopping path
Consumers are increasingly shopping online without deserting the retail shelves.
Today, fashion retailers recognise the complementary nature of online and offline commerce 👩💻
One is not at the expense of the other, quite the contrary! In fact, an omnichannel strategy is a powerful competitive weapon for meeting hybrid consumption needs.
We are witnessing the rise of marketplaces, but also a revolution in in-store merchandising.
By following the omnichannel retail trend, brands gain visibility and commercial performance.
That said, the success of the offline-online alliance will depend essentially on the homogeneity of your marketing actions 😋
Moreover, the success of Click and Collect, a well-known retail market trend, reinforces the link between online and physical purchasing.
The recommendation: circular economy and CSR policy
The ecological emergency is awakening the collective conscience 🌱
Luxury brands are rallying around eco-responsible and ethical brands to develop a sustainable and environmentally friendly trade.
Today, almost all brands are embracing recommerce or reverse trade.
It refers to second hand, the development of the second hand market both online and offline 💫
According to a study relayed by Fashion Networks and realised by the Boston Consulting Group and Vestiaire Collective, fashion retailers generate a profit margin of about 3% from second hand.
The adoption of responsible fashion is beneficial for the circular economy.
In fact, one of the new retail trends is to combine sustainability, innovation and ecology.
This is prompting the most innovative brands to rethink how they market and ship to accommodate the shopping & retail trend.
In addition, the Printemps Haussman department stores’ is undertaking its conversion by dedicating a 1300 m² space for second hand 🙌
The customer experience is moving upmarket
The players in the retail sector are undergoing a major transformation, not to say a revolution, in order to find the ideal positioning for their brand.
The last few months have revealed the failures of historical fashion brands, such as La Halle, Camaïeu, Kookaï. We recommend the excellent Le Monde podcast called Camaïeu, San Marina, Kookaï… Disaster in ready-to-wear on the subject (in french).
This phenomenon added to the rise in costs means that brands are changing their positioning by moving upmarket. They are seeking to develop a more premium brand.
This evolution is accompanied by a paradigm shift in customer relations. This is known as the customer experience and this customer culture is being instilled at all levels of the internal organisation.
The teams in the field are then supported to grow and offer a richer customer relationship at all levels of contact points.
Retailtainment: to engage and better support customers
The in-store experience remains irreplaceable.
The customer discovers the brand’s universe, its colours, its message and its style.
Unquestionably, the physical experience is an essential component of the buying experience, to ensure the quality of the product, among other things.
Brands are competing with ingenious ideas to hold the attention of shoppers, this is the advent of the retail consumer trend 👁
New communication tools are moving into shops to offer immersive, Instagrammable experiences 📸
For the brand Lottie London, to seduce a young clientele who are fans of TikTok videos.
Numerous video contents from female influencers dot the brand’s dedicated product shelf.
E-trials and personal shoppers are also among the retail trends for 2023.
Appointment sessions with a personal shopper and virtual fitting improve customer satisfaction.
Social media are gaining ground
Social platforms are replacing the role of traditional media and can facilitate the visibility of your e-marketing campaigns.
With a generation of mobile consumers, it is becoming essential to strengthen your presence on social networks.
According to Research and Markets, social commerce is growing rapidly and is expected to reach 12% by 2025 🎯
Some brands have even initiated purchasing via social networks by offering payments via WhatsApp.
▷ Have a look at our training catalogues : Be unbeatable on social media
AI, one of the trends in retail 2023
You must have heard about ChatGPT at the beginning of the year.
More than ever, customers are looking for a high level of satisfaction in their shopping experience.
They want to find what they need quickly and pay easily.
That’s why artificial intelligence is taking a leading role in the retail trends of 2023.
AI improves in-store responsiveness through analysis of shopping behaviour. The technology can scan the customer’s profile and predict their expectations in order to offer them personalised support.
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To keep up with the changes, all retailers will have to rethink their retail strategy.
The upmarket nature of brands, Artificial Intelligence, retailtainment and omnichannel are all trends in retail 2023.
To take the step towards these transformations, you will already need to establish your online presence.
The retail trends of 2023 reflect a continuity, a new era. Nevertheless, you must already strengthen your digital presence and work on your e-reputation.
Do you want to know more about the evolution of consumer trends and train your teams on them? Contact us for more information!
