The best of Insider Trends May 2018
A very happy June to you all – we’re officially six months into the year! While we’re saying hello to a new month we’re saying goodbye to another, which can only mean one thing – it’s time for our monthly round-up where you can read the latest in all things Insider Trends.
Retail Concepts & Innovation
Want to know the world’s 50 most innovative retailers? Well, you’re in luck, as we’ve brought together 50 game-changers who are staying ahead of the curve, from the likes of Amazon to Bodega to WAH Nails. Read all about them and take inspiration from these retail pioneers.
While we’re on the subject of retail innovation, according to Statista, mobile commerce (m-commerce) revenue worldwide has increased from $184 billion in 2014 to a projected $669 billion by the end of this year. M-commerce is growing and its growing fast – you’d be a fool not to get in on it. With that in mind, we take a look at 30 of the ways brands are using mobile and m-commerce to their advantage.
Another big deal in the retail world right now is AI, otherwise known as Artificial Intelligence. But what is it? Artificial intelligence or machine intelligence essentially refers to machines that can mimic thinking that we associate with humans. This includes the ability to learn from its experiences, to process large amounts of data to solve problems, make decisions or even predictions, and to understand and respond to natural language. You can learn more about AI by reading our complete guide to Artificial Intelligence in retail here.
It’s been another busy month for us talking to the experts and we’ve managed to interview some pretty great retail innovators. Here are the latest posts you should be reading:
Jamie Coomber, UK Marketing Director at sound company Sonos, talked us through Sonos’ experiential strategy, what the brand has learnt from its retail activities and how they fit in with its customers’ buying journeys.
Amrit Virk, head of business development UK at Ksubaka – a technology platform – walked us through the technology, the psychology of gaming and brand messaging and using engagement to understand customer intent.
Carol Nobrega, half of Brazilian concept store FLO Botanical Atelier, gave us the low-down on her concept, the challenges along the way and how the store is integral to the business, and to Instagram!
Every month, via a range of guest posts and own expert knowledge, we bring to you some of the top tips of the industry. It’s no secret that the world of business is ever-changing, meaning you need to have a system in place to adapt and grow in the new landscape.
Creating the perfect customer experience is one example of this and Shachar Shamir was kind enough to let us know of the trends driving the customer experience that you can implement in your own business.
Nevertheless, if you are of the understanding that physical retail is dead, then the concept of online-to-offline (O2O) commerce will seem pointless to you. If you don’t know O2O is the concept of driving people from online to offline. Recently the Financial Times reported that UK online sales of non-food items reached 24.1% in December 2017, meaning that over three-quarters of sales took place in stores. We’ve created a guide on how to quickly win at O2O so that you can implement it quickly.
New York saw the opening of a 10,000-square-foot Gucci store while concept stores from around the world brought to light the latest ways to engage customers with a brick-and-mortar store. Find out what’s hot in the retail world here; until next time!