THE FUTURE OF RETAIL: THREE TRENDS WE PREDICT FOR 2020
Retail today means something very different than it did a few years ago, and every day the concept of shopping evolves into something slightly new. Digital plays a huge role in how we purchase things, but consumers are also concerned about issues like sustainability and supporting the local economy when they want to buy something.
Now at the start of 2020, we’re looking at some retail trends that can shape the upcoming year. Whether you’re a consumer or business owner, these are some things to keep in mind when it comes to retail.
1. Contextual Commerce
Many consumers no longer spend the day browsing at the mall but that doesn’t mean that people don’t want to have the tactile, exciting experience of discovering a new item to purchase. That’s where contextual commerce comes in — creating shopping opportunities in spaces that aren’t stores. Batch is a start-up pioneering this concept by placing shoppable staging in residences that are for sale. Potential buyers step into a unit and instead of seeing a blank canvas see a beautifully furnished apartment. Even if buyers don’t end up buying the home, they may purchase the furniture, art or décor because they were able to touch and feel these items in person. In 2020, business owners and creators should consider bringing their goods into places where people are eager to discover products outside of traditional stores.
Customer tastes vary significantly by region and shopping can be influenced by weather and terrain — someone living in New York City likely has a different set of retail needs than someone who lives in New Mexico. Brands like Adidas have taken note and are localizing their products to suit regional needs by offering running shoes suited to the surrounding terrain.
Batch encourages local experiences through our shoppable staging which could be right by you. Our next Batch could be as close as your neighbor’s house, the home for sale across the street or on the same block where you work. We’re taking shopping away from the mall and commercial centers and bringing them into residences. Instead of asking buyers to visit stores, we’re bring the store to them.
Exclusive of region, brands like Levi’s are using customization to suit customers varying tastes and offering a chance to create custom denim piece through button colors, patches and embroidery. Everyone likes to have their own unique item and this level of customization invites people to come “create” in stores.
We also value customization and each of our Batches is personalized to its location. We like to make each unit feel unique and highlight the best features of each residence. We create our spaces with things like condo size, budget, population and aesthetics in mind so that the décor and furniture feel like a natural fit. None of our batches look exactly the same and just like every home is unique, our staging is equally customized.