Self-checkouts, shops-within-shops and greater environmental responsibility will be among the emerging retail trends in the year ahead, says a new report.
Time for Dessert? Ten Emerging Trends in the Food & Drink Sector and How to Respond, published by Barclays Corporate and Verdict Research, aims to help retailers identify key areas for growth.
It says gaining footfall will become more difficult as online shopping increases, so location is paramount and stores will need to be carefully targeted to their catchment area.
Self-checkouts will come to the fore in convenience stores, the researchers believe, as consumers are overcoming their initial reluctance to use them.
The report also predicts a rise in in-store franchises. "We will see more shop-in-shop formats developing and concessions granted to outside players such as Starbucks, which entice shoppers to spend longer on site," it says.
Although customers will remain cautious in their spending, they will expect stronger environmental and ethical credentials from retailers, the report suggests.
It also says that as inflation rises the incentive to trade down will return, and the shopping format that targets the cash-strapped consumer will thrive. "New and better stores in the right locations are key if retailers want to be successful, as is developing a more upmarket offer that maintains an emphasis on value for money," it concludes.
Less favourable for c-stores is a prediction of a further rise in online shopping, and mobile phone applications that will "revolutionise how grocers engage with customers, drive the uptake of online shopping and help retailers better manage loyalty programmes".
Time for Dessert? Ten Emerging Trends in the Food & Drink Sector and How to Respond, published by Barclays Corporate and Verdict Research, aims to help retailers identify key areas for growth.
It says gaining footfall will become more difficult as online shopping increases, so location is paramount and stores will need to be carefully targeted to their catchment area.
Self-checkouts will come to the fore in convenience stores, the researchers believe, as consumers are overcoming their initial reluctance to use them.
The report also predicts a rise in in-store franchises. "We will see more shop-in-shop formats developing and concessions granted to outside players such as Starbucks, which entice shoppers to spend longer on site," it says.
Although customers will remain cautious in their spending, they will expect stronger environmental and ethical credentials from retailers, the report suggests.
It also says that as inflation rises the incentive to trade down will return, and the shopping format that targets the cash-strapped consumer will thrive. "New and better stores in the right locations are key if retailers want to be successful, as is developing a more upmarket offer that maintains an emphasis on value for money," it concludes.
Less favourable for c-stores is a prediction of a further rise in online shopping, and mobile phone applications that will "revolutionise how grocers engage with customers, drive the uptake of online shopping and help retailers better manage loyalty programmes".
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