TRENDS FOR 2021 AND WHAT THEY MEAN FOR RETAIL AND POS

TREND 1: A CHANGING RETAIL LANDSCAPE

There is no doubt that retail was one of the worst hit industries by the COVID-19 crisis.

• Some 17,565 shops shut down during 2020, according to analysis by the Centre for Retail Research with the loss of nearly 180,000 jobs

• Lockdowns and the strong momentum for online shopping through the pandemic have led to what some calculate to be around 5 years of change in just 1

• Restructuring of the retail property landscape is opening the doors to new ways of measuring store performance such as new customer acquisition and marketing contribution

• Retailtainment - unique brand experiences that can only be delivered in person are set to drive a differentiating factor for stores

• Promotional activity is being linked uniquely to the store environment to encourage shoppers to return

• Online brands are looking for offline space to engage with their consumers in a different way

TAKE OUT FOR POS:

Keep promotions fresh and engaging to disrupt shoppers. Think about new ways to reach your target audience with experiences or temporary stores/pop up spaces. Drive automation for standard campaigns to allow more freedom and time to explore additional opportunities.