Top 7 Retail Trends For 2020
It’s a new year of new technologies and exciting innovations in Retail! From AR to e-receipts, from imagery to Instagram, 2020 is shaping up to be a fascinating year of hi-tech engagement.
Check out our top 7 picks of the top retail trends for this year. Some may be surprising; others you’ve probably already experienced in some form or another.
So without further ado, here we go!
This is becoming a crucial point for retail businesses. Although certainly not a new concept, a growing number of fashion brands and retail companies are making a big push for sustainable processes.
Some of the trends we’re seeing:
Brick-and-mortar shops using solar-powered heating and cooling systems
Digital receipts replacing paper and lowering BPA exposure
Fashion brands taking unwanted or secondhand clothing and re-purposing fabrics
Supermarket chains decreasing plastic usage and pushing reusable materials
2. Image Search
Visual imagery is a powerful thing.
In 2020, tech companies and retail startups will continue to invest heavily in image search and visualization tools. Consumers will use them in fashion, home accessories, and furniture.
Case in point: let’s say Alisha wants to jazz up her living room sofa with some new pillows, but she isn’t sure what looks best. Image search to the rescue!
Alisha can snap a photo of her old pillows and use image search to find similar designs that complement her living space.
Few visual tools are as widely used and as enormously popular as Instagram.
IG will maintain its top spot as the king of imagery and in-app shopping, while continuing to be a huge driving force of retail consumer engagement.
4. Digital Receipts
Goodbye paper, hello digital!
This year, e-receipts will gain more traction as digital transformation hits the retail industry with greater force.
As the cost of returns has reached a whopping $642 billion annually worldwide, digital receipts will become a larger focus for clothing, home décor, home improvement, and pet product sellers.
It’s all about convenience. BOPIS (Buy Online, Pickup in Store) is growing in demand and retail chains re answering the call.
This year, consumers can expect to take advantage of BOPIS not only at their local supermarkets and clothing shops, but electronics and office supply stores, as well. Target, Kohl’s, and Walmart may be known as BOPIS leaders, but Home Depot and Staples are getting in on the action, too.
6. Augmented Reality
AR is quite literally changing how we view the world around us.
Curious how a new glass cabinet will look in your kitchen? AR lets you virtually “place” the cabinet in your kitchen space so you can literally see how it looks next to your fridge, hung up above a microwave, or in a corner space.
Analysts believe that 62% of retail brands will use some kind of AR technology in the next 1-2 years, and we couldn’t agree more.
7. Customer Experience
Frankly, #7 should really be #1.
Even in an increasingly digital world, people want to have physical experiences.
It’s why retail stores create gorgeous and Instagram-worthy product displays.
It’s why Nordstrom offers its shoppers in-house tailoring and personal stylists.
It’s why you can dine at Tiffany & Co. at their popular Blue Box Café.
It’s all about Customer Experience and how it can delight shoppers and build brand loyalty. CX will be THE dominating factor in 2020 and it’ll be fascinating to watch how retailers outdo themselves.
That’s it! As always, let us know what you think in the comments below.