Retail Trends

Goals

The goal is to find global or US emerging retail trends for a brand project.

Early Findings

  • Brands that started online are predicted to start opening brick-and-mortar stores. One report predicts that digitally native brands will open over 850 brick-and-mortar stores within the next five years.
  • Augmented Reality is being used in shopping experiences more often. One example is the Target app feature that allows users to picture items in their home.
  • Temporary store-fronts, or pop-up shops, are gaining traction. One report shows that temporary store fronts are expected to generate $80 billion per year, globally.
  • Visual search is becoming more popular with younger shoppers. Brands that offer visual search are expected to see a 30% increase in their digital commerce revenue by 2021.
  • Buy online, pick-up in store (BOPIS) is expected to continue to grow among retailers. 49% of survey respondents said they preferred BOPIS to at-home delivery.
  • Secondhand apparel shopping is becoming much more popular. The secondhand apparel market has grown 21 times faster than the new apparel market in the past three years.
  • According to a report by ThredUp, the global secondhand resale market is expected to reach $23 billion by 2023.
  • Order fulfillment automation, currently used by companies like Amazon, is being explored by more retail companies. It is expected that over 580,000 autonomous mobile robots will be used in warehouses by 2025.

Proposed next steps:

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