FEATURE What Consum Daniel Whytock, CEO of online marketplace
DownYourHighStreet.com, discusses ho
As retailers well know, flooring is subject to trends in interior design which retailers need to respond to. When a new technology appears, flooring retailers must adapt to this as well, or risk becoming irrelevant.
With ecommerce and mobile technology, purchasing habits had been changing dramatically even before the coronavirus closed physical stores and restricted people to staying at home. Now, after almost a year of lockdown, retailers need to ask themselves if anything will be the same again and, if not, how can they adapt to stay relevant?
Let me share the top three changes to consumer shopping habits over the past five years, how the COVID-19 pandemic may affect the trend, and what the future may hold for flooring retailers.
Data Sharing
People used to be very wary of sharing personal information, especially online. Whilst we are still in the relatively early years
14 | Tomorrow’s Retail Floors
of ecommerce, there are now a lot more rules and restrictions around how companies can use data. The public has also become more informed on how data is used and amalgamated by computers, making them more inclined to share.
As a result, people care less and less about privacy and more about personalisation. They don’t want to spend time and energy searching for products they want and are happy to offer some data to help personalise results.
And the more data online retailers collect, the more personalised the products and recommendations, and the more data customers are willing to share. It is creating a virtuous data cycle of customers sharing information and enjoying the benefits.
This trend has been accelerated by the coronavirus, with customers having to share more information in order to buy products online since they can’t go out to shops or showrooms.
www.tomorrowsretailfloors.com
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