How to stay ahead.
Globalisation of Australian retail will continue in 2017 with the likes of Amazon, Debenhams and John Lewis shaking up the retail environment, according to the Retail Doctor Group. As a result, there will be a higher focus on differentiation and uniqueness of offer to create a barrier against the threat of international entrants.
Furthermore, there will be an increased focus on retail as an ecosystem superseding the omni-channel approach of 2016. Disruptors and innovators will continue to entertain and drive change by offering fast, efficient and convenient products and services.
The Retail Doctor, Brian Walker
The Retail Doctor Group also predicts that there will be an enhanced understanding of neuroscientific approaches to understanding consumer behaviour, with the potential to replace traditional customer research. With this in mind, customisation and personalisation will be driven by an increase in mobile connectivity leading to smarter data centric retailing.
Mobility and digitisation will allow consumers to shop instantly, wherever and whenever with 34% of shoppers saying their mobile device is now the preferred shopping tool, according to recent research from PWC. Time and speed are driving this agenda. However, physical experience will need to continue to develop to drive traffic.