How has shopping changed in your lifetime? Have you seen stores come and go? Have you come to rely on online reviews, e.g., Yelp, before making purchases? Do you “shop” online? How have your shopping patterns changed? How are they different from the way your parents or grandparents shopped? When you think about it, I’m betting that much has changed for you. And you will see accelerated changes ahead..
Retail is one of the most dynamic sectors of our economy. Consumers drive ~70% of our economy. And we’re tough customers! Stores pop up while others go away. Stores succeed or fail on the value they deliver for shoppers. As shoppers, we vote with our feet (and fingers).
We also shop with our senses, seeing intriguing things on display, smelling the coffee or baked goods, feeling the fabric, hearing the advice of knowledgeable sales associates. We like to interact with our prospective purchases; both online and traditional retailers know this.
Retailers will continue to evolve to meet our changing wants as shoppers or cease to exist. The marketplace determines retail winners and losers.
Like the gazelle and the lioness, both arise to face a new day. The gazelle knows, “Either I run fast today or I become someone’s dinner.” Likewise, the lioness knows, “Either I run fast today or I have no dinner for me, my mate and my brood.” Whether we’re the hunter or the hunted, we must run fast each day to survive.
Display and fixture companies must run fast each day too to serve the dynamic world of at-retail marketing. Retail never stands still!
Posted on 9/29/2013 at 8:00:00 PM