For instance: IkEA launched a new VR experience that places shoppers in the middle of a shoppable, 3D kitchen. Multi-Channel Retail Moving away from the tenants of the traditional re- tail market, multi-channel retailing has gained increas- ing popularity. The aim is for the retailer to be available to the consumer on all devices. The most common device used by shoppers nowadays is their mobile phones. With online shopping available at the click of a but- ton and features like product details, size guide and free shipping, it is imperative for retailers to move their businesses online. Hyper Personalization The driving purpose behind today’s retail trends is to elevate the consumer-retailer relationship by in- creasing personalization, transforming customers into fans and boosting Customer Lifetime Value. Imagine a store where 99 percent of the items are selected for a customer based on their history and preferences. A shoppable virtual fridge stocked with your favorite foods.A smart speaker that knows your
Retail Trends ( Cont’d from Page 1)
retailers need to respond to meet the needs of their customers. Customers do not want to just walk into the shop, buy the product and leave because they could do this in the comfort of their own home. For instance: Slew of retailers provide a screen for customers to use where they can sign in and search their purchase history and bucket list, providing cus- tomer insight for the sales assistants. There is also a smart mirror so they can request dif- ferent sizes, alternative products or even pay without leaving the dressing room. Their high tech advance- ments also give the customers the opportunity to customize and order shoes, with different styles and fabrics. Augmented Reality vs Virtual Reality Retailers are beginning to experiment with virtual commerce, which leverages virtual and augmented reality devices to create entirely new conveniences for tomorrow’s consumers.Augmented reality (AR) is slightly different from virtual reality (VR) as it over- lays holograms on top of the physical world around us. Experts have noted that by 2020, the retail indus- try is slated to be the top spending industry on AR and VR.
(Cont’d on Page 10)
printTHINK Summit Sept. 11-13, 2019 Hyatt Regency O’Hare Rosemont, IL
Industry Events
Luxepack February 27-28, 2019 Barker Hanger Santa Monica, CA
Graph Expo 19 Sept. 22-25, 2019 Orange County Convention Center Orlando, FL
Packaging Innovations February 28-March 1, 2019
Labelexpo Europe Sept. 24-27, 2019 Brussels Expo Brussels, Belgium Print19 Oct. 3-5, 2019 McCormick Place Chicago, IL
NEC Birmingham Birmingham, UK
TLMI Converter Meeting March 10-13, 2019 Omni Grove Park Inn Asheville, NC
American Packaging Summit April 15-17, 2019 Westin LombardYorktown Center Chicago, IL FTA Annual Meeting May 6-7, 2019 Ernest N. Morial Convention Center New Orleans, LA
TLMI Annual Meeting October 27-30, 2019 Omni LaCosta Resort & Spa Carlsbad, CA TLMI Converter Meeting March 8-10, 2020 Austin,TX
8 January 7, 2019 Flexo Market News
www.nvpublications.com
Made with FlippingBook Annual report