1.Pop-ups without products

From brands to apps, we are seeing an increasing number of players look to pop-ups in retail environments as a way of attracting customers that are not just shopping for products, but experiences.  This year will see the social and dating app Bumble continue to grow a physical presence with its Hive pop-up concept; a play on the beehive branding to offer entertainment activities and networking.  “They’ll be something no one’s seen in the space, and it won’t be a model that you’ve seen outside the space” said Whitney Wolfe Herd, founder and CEO of Bumble at this year’s TechCrunch Disrupt in San Francisco.

Fresh from the holiday, perhaps you watched Miracle on 34th Street this Christmas?  The film shows Macy’s Santa Claus serving customers by telling them where they can find the toys they’re looking for, even if that means sending them to shop elsewhere. The story showed it to be a huge success for Macy’s as people felt more aligned with the store they could trust.  Customers are increasingly shopping with their emotions instead of their wallets, which leads to our next trend…

2.The rise of cultural hubs 

Customers are looking to engage with companies outside of conventional shopping parameters, so brands are increasingly aligning themselves with cultural agendas.  Leaders are seeking diversity of thought and using their internal culture to convey brand identity.  This not only attracts customers but staff as millennials are pushing preferences for authenticity and social consciousness.

3.Data with purpose

Tools that measure change and unlock value are increasingly popular to support teams with a live view on data tailored to different roles or tasks. Fast access to data helps to develop the right tactics, decide how much to invest in each effort and how to prioritise opportunities. A tailored platform powered by real-time analytics can free up managers from day-to-day specifics, allowing them to survey the competitive landscape and effectively lead the business with purpose.

As we carve the future of retail and the spaces where we live, network and play, it will become increasingly important to measure success in new ways. Data will drive this as we innovate and experiment.

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We started MAPIC 2018 early at the International Outlet Summit, where ART Software Group director, Gareth Jordan took the stage for a panel discussion on The Connected Consumer Experience in Outlet Destinations.  The lively debate hosted by Mark Faithful, editor of Retail Property confirmed the importance of sharing information and connected working in order to satisfy the new connected customer.

Neinver’s European marketing and retail director, Sebastian Sommer commented “We need to provide a stage where guests and consumers want to be loyalty customers… This requires a lot of data sharing between outlets and retailers. We cannot underestimate how important this will be.”

There was also discussion about connections between outlet and full-price retail.  Nike’s senior director of real estate, construction and facilities EMEA, Fabien Stultz said the company was redefining its outlet store model and becoming more experience-led. “Discounts are no longer just in outlet centres,” he added.

ART’s director Gareth Jordan also commented on how changes in consumer patterns, with more focus on positive experiences are changing the way outlets and traditional retail portfolios are interacting with brands: “The gap and the difference between outlets and full-price retail is changing now. Brands that are in full-price retailing are more willing to work with shopping centres to share data. But the key is not how much you have to share – it’s what you do with it.”

Gareth elaborated on this point at the Innovation Forum on the opening day of MAPIC – showcasing ART’s data analytics and management solution Retail Advantage.

In this session, Gareth spoke about data with purpose: “Retail environments have access to more data than ever. In theory, this should be fuelling insights and informing decisions, but you have to treat it with purpose.” He expanded on the importance of connecting the right person with the right information at the right moment. 

“There has rightly been a huge push to deliver a connected customer experience. Retail Advantage expands this concept, communicating and sharing live information to create connected stores; supporting retail efforts. The aim is to help create a community where shopping centres and outlets can work together with tenants to get the best performance based on up-to-date information,” Gareth added. 

Reiterating the mood across MAPIC 2018 that tech may be transforming our reality, but it is also transforming our culture as we move into the future of connected retail.

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Consolidate

A shopping centre’s biggest competitor is arguably the customer’s time, so quite rightly a lot of effort is spent creating cultural hubs with shops that supply both products and experiences all under the same roof.  Our experience shows that community goes far beyond the shop floor. By consolidating databases, and collecting data from site and numerous other systems, an intelligence solution can help managers across the business create community.  Do away with multiple spreadsheets that require constant attention from staff. Live, accurate data and the right retail intelligence solution opens opportunities for collaboration.  

Look at resources differently

Exploring the value of an investment is far easier with a more transparent view on progress and the results of each initiative. Clients using our dashboard-driven management software Retail Advantage are enhancing tenant coaching.  Marketing managers are using it to measure community-building activities through a variety of perspectives with intelligent, interactive tools.

Communicate Ideas

Grow community by making it easy and instantaneous to share ideas and information and further engage with a transparent view of who has seen what and when.  With a connected retail management solution, coordinating the distribution of key ideas, data or documents with managers and staff is a straightforward process with secure digital delivery.  

We have said it before and you will have to forgive us, as we are likely to say it again.  As technology advances, the goal is not to remove humans from the equation, but to empower them.  We look forward to a year ahead of rewarding exchanges between commerce and community.  

Can’t wait for 2018? Start a Discussion now

A good time to digest the realities and predict future trends, data mining makes way for knowledge driven decisions. We will be showcasing Retail Advantage, our data analysis and management platform for retailers, shopping centres, outlets and managed retail locations.

Here are a few talking points we look forward to discussing at Revo 2017…

Retail is a data rich, time poor industry  

Transitioning from descriptive data capture to diagnostic analytics. How we can help uncover strategic insights from data and leverage time previously spent making sense of it.  

Shoppers are demanding more 

How we can help measure the results of added value strategies to allow you to analyse your retail performance through KPIs, sales performance analytics and footfall metrics.

The need to be stable and secure has never been greater 

How we can help provide the tools you need to distribute information instantaneously with a transparent view of who has seen what and when with secure digital delivery.  

See us at Revo or start a discussion now