2020 will be a year of “great vision.”

Smart retailers are recognizing the importance of a good experience. CX and customer service go hand-in-hand in the retail industry. I can’t think of one recognized brand that doesn’t know that. (Even if they don’t appear to be delivering at a high level, they are aware of it.) Brands that stand out? There are plenty of lists that compile the best of the best. We can start with the A’s… Amazon and Apple. They continue to set the bar for others. Luxury brands have always recognized the importance of CX and service and are typically leaders in this area. You’ll see more personalization from savvy retailers. Concepts will take the form of pop-ups, and if they prove to be worthy of permanence, you’ll see them integrated into the store’s footprint. Pop-ups are great for testing.

While 2020 will be a year of great progress for retail, I expect the polarization between the best and the rest to continue. There are so many legacy retailers that are way behind the curve at innovating and, as a result, they are misaligned with what consumers want. Good retailers will be looking at things like: Getting the basics – products, price, place – right (obvious but it still needs saying!); Sourcing and curating products that are relevant, unique and innovative; Added value services to genuinely help and inspire consumers; Being a good corporate citizen and aligning values with those of core customers; Creating a sense of community to stimulate loyalty in a genuine way; Ensuring shopping experiences are entertaining (or at least hassle-free); Investing in technology designed to improve efficiency and reduce costs; Converging channels so that shopping is seamless for the consumer. It is important to understand that not all of the above are relevant to every retailer and how they are implemented will vary from company to company. But the bottom line… Read more »

As always, Gabriela’s instincts are spot-on. I would even up the ante on her predictions to say that while experiences will matter more in the near future, I expect that by 2023, we will see a redefinition of what we think of as a “store.” For many categories, I expect that experiences will come first, with selling stuff a by-product of that experience.

The advent of pop-up shops will certainly provide new innovative retailers and online retailers the opportunity to test their concept on the High Street. However, it is a big step from a one-off pop-up shop to a fully functional group of stores. The management of the supply chain is the biggest single challenge for most retailers whether they be bricks or clicks.

I’m voting for the shopping experience that diminishes the need for a “Sale” sign on every fixture. I’m looking for the experience that isn’t driven by a “%” sign with a big (artificial, fabricated) number in front of it. Honest product at an honest value delivered in an interesting treasure hunt manner. I know that’s horribly antiquated of me, but the growing transparency in the retail business is not the friend of so many bogus retail offerings in play right now.

To me it is still all about being able to do what Amazon cannot do… and experience is a core element of that. Doing this and staying profitable for many remains tricky. I loved the comment from the CEO of U.K. retailer Mountain Warehouse – “If they come to the beach and it’s raining, Amazon can’t help them.”

This suggests a big focus on overall experience – focused on product and availability of that product rather than necessarily it being a super slick experience. Very much back to basics – love it.

You broke it down perfectly, Gabriela. I’d add “sustainability as table stakes for brands.” All signs point to legality around fast-fashion imports changing as lawmakers scramble to preserve the planet for the next generation. It won’t be long before high waste apparel production is as illegal as it is environmentally devastating. I look forward to witnessing the new low cost, low waste manufacturing methods that retailers come out with in the coming year.