There’s no telling what 2019 will bring to the world of retailing, but now that the dust has settled on the past year, it’s time to reflect on changes in the industry in 2018. Adweek magazine recently did just that, and its list of the 10 Biggest Ways Shopping Changed in 2018 contains a few predictable points as well as a few surprises. Still others are works-in-progress and quite likely to be the big stories of 2019, as well.
Read on for the scoop, and we challenge you to write down your own predictions for this coming year.
- Cashierless Stores: From the first Amazon Go location in Seattle that opened a year ago, the no-checkout format has expanded from start-ups like Zippin and Standard Cognition to legacy retailers like Macy’s and Sam’s Club that are developing their own programs.
- Autonomous Delivery: Still primarily being tested in the grocery space, robotic unmanned delivery vehicles are starting to turn up in general merchandise stores, as well.
- BOPIS: Awkward acronym aside – it stands for Buy Online/Pickup In Store – this practice exploded in the second half of last year. Some retailers report half of their online sales being picked up in their stores.
- Cannabis: A state-by-state development, sales of marijuana-based products have not had a huge impact on the home furnishings industry…yet.
- Social Commerce: Social media used to be just for chat, but platforms like Instagram and Snapchat are increasingly offering goods for sale.
- Crowdsourcing Design: A potential threat to in-house product development and marketing departments alike, some companies are experimenting with using social media to determine what products to bring to market.
- Challenger Brands: You may know them as ‘disrupters,’ but whatever the name, new companies with new business models are penetrating nearly every consumer product classification – including home furnishings.
- Retailtainment: Creating restaurants within retail establishments is as old as retailing itself, but the practice gained new momentum in 2018, thanks to retailers like Restoration Hardware, Tiffany & Co. and Urban Outfitters.
- Healthcare: An aging population and other demographic segments are making pharmacy and health services a desirable element for stores looking to drive regular traffic.
- Mall Stores Rise From the Dead: A store brand is never really gone if an investor is willing to resurrect it online or as part of another retailer’s assortment. This one has been building for years.