LONDON--(BUSINESS WIRE)--Infiniti Research, a world-renowned market intelligence solutions provider, has announced the completion of their latest list blog on the top trends in the retail industry to be aware of in 2018. The global retail industry has experienced a decline in its growth rate, but the sector has managed to hold up somewhat better than other industries.
The never-ending desire of customers for ‘retail therapy’ has led to the success of the retail industry year on year. This year, new trends, new consumer behavior and demands, new technologies and tools, and new opportunities have entered the market. Due to such changes, retailers have been forced to meet the demand and stay ahead of the competition.
According to the retail experts at Infiniti, “The retail industry players have concluded that their survival exclusively depends on their ability to provide innovative offerings to customers and distinguish themselves from the other fishes in the sea.”
View the complete list of the top trends in the retail industry to be aware of in 2018 from Infiniti
Infiniti Research is a global market intelligence company presenting market insights to help look beyond market disruptions, study competitive activity, and develop intelligent business strategies. Listed below are the top trends in the retail industry to be aware of in 2018.
Top trends in the retail industry to be aware of in 2018
- Experiential retailing - Revamping in-store experience: The invention of online shopping has declined the demand for brick and mortar stores, but hesitant attitude among customers to trust online shopping might save the retail stores from dying. Top retailers need to understand how to attract more customers, and one of the top trends is to make a memorable shopping experience for customers.
- Expect more of AI and AR: Companies have been using advanced technologies like AI and AR in the retail industry to boost their performance. This trend is expected to continue in 2018, resulting in the growing popularity of experience customization. Example, Starbucks reserve roastery in Shanghai has a digital web app that acts as a virtual tour guide for customers, by pointing their smartphone at a piece of equipment, the app will explain how coffee is processed in that machine.
- Personalization: the key to creating a connect: The growing demand of customers to own and experience things that are unique has fueled this trend of customization, which is one of the trends that has been on the rise from 2017 in the retail industry. Customers of today are giving more importance to experiences over physical items. When they buy a product, they want those items to tell a story. It becomes more exciting for shoppers when they are given the opportunity to build and customize their products. For example, Dresden, an eyewear retailer allows shoppers create their own pairs of sunglasses by interchanging the lenses and frame parts as per their desire.
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Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies.
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