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Go Back to www.FleaMarketZone.com RETAIL TRENDS The Future of Retail


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DESPITE HIGHER commodities prices, increasing fuel costs, weak labor markets and the variability of capital markets, retail will prevail, as organizations and consum- ers learn to thrive and succeed in this constrained world. Retail will continue to experience a dra- matic shift in the socio-economic environment around it, and the retail industry will be governed by the following overarching themes moving forward: • Traditional consumer segmen-


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tation is dead, requiring that retailers focus on understanding individual customer psychographics. • Destination and location


will be less relevant; anytime and anywhere shopping will be the new mantra. • Customer attention will be


scarce, forcing retailers to battle over consumers. • Constrained economics will


ensure that cost and effi cien- cy will be central to almost all retail strategies. In line with the overall themes


driving the industry, we will con- tinue to see the emergence of multichannel marketing as the key enabler driving customer en- gagement and experience. This will result in signifi cant shifts from pure brick and mortar selling to online marketplaces, especially mobile, in addition to storefronts. This may be the most imminent trend primarily because: • The average U.S. household


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spent at least $700 more on gaso- line in 2011 than 2010, increasing vehicle fuel expenses by at least 28 percent. We believe that in a con- strained world, consumers will seek to curtail this spending by reducing shopping trips and transitioning to an online shopping environment. • In 2011 the Internet played


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 


60 March 2012


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 A NEW Rosary for the NEW Millennium Iconeum, LLC PO Box 571, Mohegan Lake, NY 10547 fax: (914)-514-8047email:sales@iconeum.com (800) 741-7754


a role as either a research tool or sales channel in more than 45 per- cent of U.S. retail sales. • Multiple studies have shown


that a cross channel shopper drives a 20 percent incremental shopping basket increase at the store, leading us to conclude that retailers also will drive a shift to online. Retailers that successfully use


continued on page 62 INDEPENDENTRETAILER


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