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You have probably noticed that I am a bit of a market analysis junkie, always expecting to find some insight and indication of things to come in the reports which arrive on my PC from a variety of sources. The report with the titillating title, ‘Top Technology Predictions for the Retail Industry in 2011’ from retail technology consultants, CTS Retail, wasn’t an exception, and i dived into it head first. Some of the forecast trends were rather predictable: online stores will gain greater share of sales; multi-channel integration will become king, and retailers need to keep up with consumer thirst for social media.
However the report also contains a statement which should lift the spirits of the independent sector: the bricks & mortar store will always exist for the following reasons:
• Having researched the item, customers prefer to ‘want it now’ so whether this is reserve and collect or just drive to the store and purchase, immediacy will drive bricks and mortar sales.
• Some products are very personal and therefore the product’s condition needs to be seen and considered in person even if it has been researched previously.
• Customers look to the retailer for expertise and knowledge, so speaking to a member of staff in a store will instil confidence in the customer purchase.
It’s also worth remembering that customers’ expectations have changed irrevocably since pre-internet times. “The days of waiting for the customer to contact us have long gone!,” retailer Martin Havills told me last week. This is the message I would like to leave you with as the old year comes to a close and the new one begins, wishing you all prosperity in the next twelve months.
Anna Ryland
Editor
