2018 is over…finally! It was a very long year — one which began with the Winter Olympics (yes, we all had the Olympics this season ) and high schoolers ingestion Tide Pods. In retail information, we said goodbye to Toys“R”Us, hello to oat milk, and found that Best Buy was here to remain.
As we look back on the highs and the lows, we at Medallion Retail desired to discuss a few of our favourite items of yesteryear. Because the better way to begin 2019 than using a return our favourite 2018 retail tendencies.
Favorite Retail Trend: Marketplace Pop-Ups
Together with our subsidiary MR Pop-Up we are all about the rising tendency of pop-ups in retailstores. They are enjoyable, consumer-driven and excellent for analyzing theories. However, the very best thing about this tendency is that it promotes creativity and continuous disturbance. And this season, the most revolutionary idea was that the market pop-up: a casing of a shop hosting a plethora of goods.
Story is a good illustration of this. The retail innovator includes a brick-and-mortar store that curates and evolves product offerings to match a changing motif. Products are combined only by that inherent”narrative” The end result is a market of products that arouses customers and entices them to reunite. Story was so powerful that Macy’s newly obtained the notion store.
What is next is guaranteed to be a continuation of the trend on a larger scale. Flexibility and innovation are the trick to the”narrative’s” next thing.
Favorite Retail Resurgence: Macy’s
The”retail apocalypse” took quite a few sufferers within the last couple of decades (Blockbuster, Toys”R”Us, RadioShack, Sears). However, there are a few who’ve come back from the verge, as just the very best of the best can perform. To close the year, we want to praise one of their most notable instances of reversing a prospective death spiral: Macy’s.
For a little while, the department shop simply kept doing what department stores do. But in the last year, the huge series has completely revamped the user experience. Purchasing Story, launching a BuzzFeed product lineup, showcasing an experiential distance in select shops (hi AR!) , raising personalized offerings— the list continues.
And that is nothing compared for their unbelievable holiday installations this season, we went to watch firsthand: in the flagship store in Herald Square, all eight floors had been decked out with some wonderful screens, all aimed towards developing a jaw-dropping consumer reaction.
It is all impressive things and speaks to the increased tendency of providing users a memorable retail experience.
In reality, we are so enamored with Macy’s resurgence, we are writing an entire post on it. Keep an eye out for our comprehensive look in the successes to come in 2019.
Favorite Holiday Campaign: Hershey’s Halloween
Holidays will be the bread and butter retail — particularly for candies. The challenge is that there are several hats in the ring which the screens must stand out. One did just this: Hershey’s Halloween installment.
More than only a screen, it’d the grandeur of an in-store pop up. Having a immersive 10′ x 10′ x 12′ walk-through to get a 360-degree encounter and above one ton of candies, this screen stood out from the audience. It was enjoyable, on memorable and theme for both kids and adults — precisely what vacations are all about!
Favorite Hyped Product: Reusable Straws
A chic product which looks great, is the investment and assists the environment? We are sold! This season, reusable straws took the world by storm — so much so that individuals were forgoing plastic straws at each juncture.
Many businesses tried to throw their hat (or straw) from the ring. You will find glass straws, bamboo straws, silicone straws, stainless-steel straws, and stainless-steel-silicone-fusion straws. However, whatever the substance, the larger tendency is one of sustainability and eco friendly consumer methods, both from the item itself and at the packaging.
Expect to see more advanced green goods in 2019. It is very good for customers and good for the environment. We give it 2 fishtails up!
Favorite Retail Tool: HappyOrNot Button
Artists have paintbrushes, plumbers have wrenches, and referees have whistles. Every business requires the ideal tool to get the task finished. Retail is not any different. This past year we found a surge in client happiness measurement plans, with retailers attempting harder to monitor shoppers in actions. 1 tool specifically was easy, yet powerful: the HappyOrNot button.
It is a very simple idea: ask the client to rank their expertise. Nonetheless, it’s been done in a lot of tired manners. Receipts with polls get chucked in the garbage since you are asking a lot from the client — and forget about folks taking the time to respond to mails with after-the-fact satisfaction polls. An in-the-moment position is easy and powerful, and we anticipate more retailers to jump on this bandwagon.
Favorite Retail Quote: Alex Carleton
There are dozens and dozens of brilliant minds in retail where people adore to learn from — and each year we all want to take inventory of what we’ve discovered. This season, Chief Creative Director of Filson, Alex Carleton, makes the award to our Beloved retail quote from a meeting with Gear Patrol:
This isn’t simply a fantastic quote, but it highlights likely the most epic fashion we are seeing in retail at this time. The very best retail is not retail whatsoever: it is retail theatre. Brands which continue to utilize exactly the same, stale sales plans are not likely to create it in this growing area. It is the retailers that supply customers with new and genuine experiences which will flourish.
It is an exciting time to be in retailstores. We anticipate seeing more visionaries try out advanced and industry-disrupting notions from the year to come. And we are thrilled to be part of the retail revolution.