If your graphic communications company serves retailers, you may be interested in the retailing trends outlined in the “Frontier(less) Retail” report from The Innovation Group of J. Walter Thompson Intelligence. The report was produced in partnership with WWD (Women’s Wear Daily).
According to Lucie Greene, worldwide director of The Innovation Group, the current retail landscape seems to be borderless, blurred, and amorphous: “The physical and digital realms are set to merge in new ways with the introduction of artificial intelligence, virtual reality, and the Internet of Things.” Boundaries are collapsing everywhere.
“Geographic territories as becoming increasingly meaningless as retail goes truly global,” says Greene.
Even the idea that a product must be something tangible is changing. The report points out that “Customers now accept the digital, the nebulous, the ephemeral, and even the borrowed, as well worth spending money on.” Instead of spending money on physical items, customers may forgo buying products in favor of more experiences.
Greene believes retailers today have a permanent need for agility: “Even companies that embrace transformative innovation are finding that the pace of change, rather than being incremental, is far more rapid than they could ever have imagined.” She contends that “A seamless commerce experience is paramount.” A minimal gap between inspiration and purchase is the key to success.”
The Frontier(less) Retailing report discusses the state of retailing in 2016. It explains the interaction of trends such as: ubiquitous digital commerce; artificial intelligence in retail; and the use of immersive digital technologies to create memorable experiences in flagship stores, parks, museums, and public spaces.
If you believe digital signage might reduce the demand for printed graphics, this report could change your perspective. To produce memorable, immersive experiences, retailers are likely to require an imaginative blend of display screens, decorative graphics, and three-dimensional themed furnishings.
The Innovation Group analysts note that “Digitizing stores shouldn’t be about slapping screens on every possible surface. It should be about using technology to create a greater sense of engagement with the physical space and the products on display.”
About The Innovation Group
The Innovation Group is J. Walter Thompson’s futurism, research, and innovation unit. It charts emerging and future global trends, consumer change, and innovation patterns, then translates this information into insights for brands.
WWD provides information and intelligence to senior executives in the global fashion, retail, and beauty communities.