Brands are forming a corporate personality through the retail space
Implications - As online retail stores increase in popularity and physical stores decrease in numbers, companies must be more inventive with the few physical spaces they employ. To best optimize on real-life retail, corporations are infusing their spaces with brand personality through hybrid services, carefully chosen store employees and hyper-conscious decor. This builds a culture around the brand that extends far beyond ambiance.
Trend Themes
1. Hybrid Retail Spaces - Physical retail spaces are being combined with multiple services to maximize customer experience.
2. Curation and Creativity - Stores are curating and presenting products in more creative ways to offer a unique shopping experience to customers.
3. Alternative Retail Concepts - Unconventional and unique retail concepts are gaining popularity as consumers seek out more novel experiences.
Industry Implications
1. Retail - Retailers need to consider alternative ways to create engaging shopping experiences for customers.
2. Hospitality - Incorporating hospitality elements into retail spaces can help create a more welcoming environment.
3. Art and Design - Merchants can get inspired by art and design concepts to make their retail spaces more visually appealing.
