3 Retail Trends to Look Out for in 2017

There’s been ample attention since the turn of the New Year on the recent shortages of retail sales. Not everything is in the doldrums however and 2017 is set to deliver a number of significant breakthroughs for the retail industry.

The ascendancy of mobile shopping, personalised experiences and combining online and offline shopping habits, is set to keep rising thanks to connected technology that continues to influence the behaviour and processes of UK retailers.

Here are three trends to watch out for in 2017:

Multiple household shoppers

More and more households are opting to co-shop and share the responsibility of purchasing what they need. In fact, 58% of households today apply this attitude to their shopping activity.

For food retailers, more shoppers mean more baskets and more data. If they’re smart, retailers will be able to connect household buying patterns and take the opportunity to serve tailored communications and customised loyalty schemes to this majority portion of shoppers.

Automation. It’s a given

There’s no surprise that automation gets a mention. With increasingly large and trackable digital footprints, consumers can be closely monitored and served highly personalised messaging at any many points within a buying cycle.

Machine learning, deeper analytical capabilities and so on will arm retailers with the ability to pursue customers with more purposeful engagement and promotions. Data like historical online history and social media interests will help retailers nudge shoppers over the buying line.

Rising contactless payments

25% of card payments today are transacted through a contactless method, compared to the 11% of 2016. In the UK that equates to 125 taps every second.

By 2020 it’s forecasted that many shoppers will have ditched physical wallets entirely, in favour of smart mobile payments methods such as Apple Pay. Retailers will certainly have eyes on this, with openings to incentivise these types of payments, build more sophisticated reward programs and achieve new sources of data retrieval.