12 Innovative Retail Trends to Watch in 2022 (2022)

As always, with a new year comes new trends in the world of retail and ecommerce.

In 2020 and 2021, we saw massive growth in social commerce, influencer marketing, and even advancements in augmented reality shopping experiences. As a result of the pandemic, ecommerce grocery platforms like Instacart are now the new norm for millions of shoppers nationwide.

Retail media outlets such a Walmart and Target continue to expand their online shopper experience. From technological advancements in the retail industry to surprising new sales channel partnerships, here are the top innovative trends in retail to keep an eye on in 2022.

Retail Trend #1: Social Commerce


The surge in online shopping is here to stay, especially given the hurdles presented by the COVID-19 pandemic and the closure of brick-and-mortar stores. According to a recent study, in the last 12 months, 34% of shopper bought a product online via PC, 38% bought a product online via tablet, and 44% bought a product online via mobile phone or smartphone.

Additional statistics show that:

  • More than 50% of the global consumers we surveyed say they’ve become more digital since the first Pulse survey was conducted. [Source]
  • Shopping via smartphone keeps climbing steeply, gaining 2 percentage points on in-store shopping just since our March 2021 Pulse survey and more than doubling since 2018. [Source]
  • Compared to when our first survey was conducted, more people say they’re buying online at least daily. [Source]

Social commerce — native shopping experiences on a social media platform — offers shoppers an even more seamless way to shop online. Instead of clicking through to a third-party website, users can make purchases right from the social media app or site.

And social commerce is on the rise. In 2020, we saw a partnership between TikTok and Shopify, an expansion of Snapchat’s Native Stores for brands, and the introduction of Facebook Shops. US social commerce sales are expected to grow by 35% to surpass $36 billion by the end of 2021.

Shops are custom storefronts for businesses on Instagram and Facebook. Sellers can create collections of featured products, as well as modify the look of their Shop with banners, images, colors, and buttons. The same Shop can be accessed from both Facebook and Instagram, so once it’s set up, sellers have the potential to reach a wide global audience on two platforms.

With Shops, Facebook is catering more directly to brands than they have in the past. This is part of Facebook’s effort to create a personalized shopping experience for users in the “Shop” destination of the app, which we expect to become more prominent to users in the near future.

12 Innovative Retail Trends to Watch in 2022 (1)

“The idea here is that a user will eventually be able to do all their shopping within Facebook or Instagram, limiting any requirements for direct site traffic. In a way, it’ll be similar to brands trying to sell their products on Amazon by reaching a huge user base and making it easier for them to follow through on a purchase.”

Avi Ben-Zvi, Group Director of Paid Social at Tinuiti

12 Innovative Retail Trends to Watch in 2022 (2)

As a part of emerging retail trends, we can expect to see social commerce become an even more integral part of the ecommerce experience for brands and shoppers alike.

Retail Trend #2: A New Approach to Influencer Marketing


Influencer marketing used to be all about selfies, carefully-constructed captions, and heavily-edited product shots. But in 2021, we’ve seen a major shift in the way brands and influencers work together. Influencer content has slowly transitioned to a raw, real aesthetic, and this change will continue into 2022 retail industry trends.

Audiences put trust in brands that showcase authentic voices, and today’s savvy users can spot an overly-produced ad from a mile away. Brands that don’t prioritize authenticity in their influencer partnerships can wave goodbye to high engagement and ROI next year. It’s time to focus on unique influencer content that prioritizes education, entertainment, and the viewer experience.

From a media mix perspective, video will be 2022’s most important medium for influencer partnerships. With many brick-and-mortar stores closed, shoppers can’t try on apparel or test out gadgets in-store — and a video is the next best thing.

(Video) Retail Banking Trends to Watch in 2022

In fact, brands have already started partnering with influencers to create and share content on IGTV, Instagram Live, TikTok, and Instagram Reels to build and foster digital communities. Take fitness authority Bandier, for example. Bandier partners with industry leaders to run workouts on IG Live, then publishes the videos to IGTV for those who miss the livestream. It’s a way to bring the brand’s community together through a shared interest while also demonstrating its gear’s durability.

12 Innovative Retail Trends to Watch in 2022 (3)

Overall, brands will need authentic video content to keep their influencer campaigns engaging in 2022.

Retail Trend #3:Online Stores in Offline Spaces


Many digital native, direct-to-consumer brands like Bonobos, Glossier, Casper, and Warby Parker started online, but have since launched and expanded their physical presence over the past few years. Most of the digital brands opening stores sell apparel, which makes sense; it’s a category where shoppers benefit from interacting with the product in person.

Real estate experts predicted that digitally native brands would open 850 brick-and-mortar stores in the next 4 to 5 years, with New York being the most popular destination. And while the COVID-19 pandemic has undoubtedly slowed the openings of new brick-and-mortar stores, we’re still seeing offline experiences from previously online-only brands.

Take the opening of the first brick-and-mortar Amazon Fresh Grocery Store, for example. The Amazon Fresh grocery store is a new grocery store designed from the ground up to offer a seamless grocery shopping experience, whether customers are shopping in-store or online.

12 Innovative Retail Trends to Watch in 2022 (4)

This new initiative from Amazon brings the ease and accessibility of ecommerce to brick-and-mortar grocery shopping. The Amazon Fresh grocery store offers same-day delivery and pickup, as well as Amazon.com package pickup and returns. Amazon also launched the Amazon Dash Cart to help customers skip the checkout line.

Among retail business trends in 2022 we can expect to see brands — giant retailers and smaller DTC brands alike — continue to create offline experiences that leverage the technology and convenience of ecommerce.

“We’ll continue to see marketplaces and traditional retailers converge. It’s happening both ways, where marketplaces like Amazon are moving to forms of traditional retail, and traditional retailers like Albertsons are making the move to marketplaces to stay relevant in the digital economy.”

Greg Chapman, SVP Business Development, Avalara

Retail Trend #4: Even More AR-Powered Shopping Experiences


The innovative retail trends of Augmented reality (AR), machine learning, and artificial intelligence (AI) are here to stay.And while AR in retail isn’t new (Facebook made some big AR moves in 2018), it’s gone from a nice-to-have to an essential part of retailers’ ecommerce offerings.

As so many shoppers continue to rely on online shopping during the pandemic, retailers leverage AR technology to bridge the gap between the digital and the physical. In fact, IBM’s 2020 U.S. Retail Index reports that COVID-19 has accelerated the shift to digital shopping by roughly five years.

While brands like IKEA, Home Depot, and Target all have proprietary AR shopping experiences, AR-powered commerce isn’t just for mega-brands.

Shopify introduced Shopify AR, an easy-to-use toolkit for businesses to create their own AR experiences to showcase their products to customers. And it works: Shopify reports that interactions with products having AR content showed a 94% higher conversion rate than products without AR.

12 Innovative Retail Trends to Watch in 2022 (5)

(Video) The Five Biggest Retail Tech Trends In 2022

Image source: Shopify

All in all, when it comes to technological advancements in the retail industry, look for more brands taking advantage of AR capabilities in 2022 — and more shoppers seeking out those AR experiences to make purchase decisions.

Retail Trend #5: Creative Brand Identities on Amazon


Even as new shopping experiences continue to emerge, Amazon reigns supreme when it comes to online marketplaces. During the first quarter of 2021, Amazon generated total net sales of approximately 108.52 billion U.S. dollars, surpassing the 75.45 billion U.S. dollars in the same quarter of 2020.

For brands on Amazon, building brand equity can be a challenge. But a strong brand identity is crucial for connecting with shoppers and establishing trust. The good news? Amazon has introduced more tools than ever for brands to build unique brand identities on Amazon, including:

  • Video in Sponsored Brands
  • Sponsored Brands Custom Image
  • Brand Stories (A+ Content)
  • Amazon Posts
  • Amazon OTT

“Amazon continues to emphasize and release opportunities for brands to tell their story and build brand equity across its platform with content. With this comes the introduction and adoption of New-to-Brand metrics and the beginning of tracking the impact of these efforts. I believe tracking metrics will inevitably need to continue to expand as brands become increasingly interested in understanding the impact their advertising and creative strategies have on attracting new consumers to purchase.”

Zak Semitka, Specialist, Marketplaces at Tinuiti

12 Innovative Retail Trends to Watch in 2022 (6)

We expect that Amazon will continue to support brands’ abilities to creatively advertise and differentiate their brand identities going into 2022.

Retail Trend #6: Ethical and Values-Based Brands on the Rise


Transparency, values, and ethics have never been more important to shoppers — which means brands need to prioritize them ASAP.

71% of consumers prefer buying from brands that align with their values. PwC’s June 2021 Global Consumer Insights Pulse Survey reveals that 50% of consumers say they’re more “eco-friendly”. And according to shopping trends reported by Forrester, shoppers are increasingly evaluating products and brands based on a company’s ethics and values, with 41% of US consumers actively seeking to buy from a company associated with social, environmental, and political ideals.

“This isn’t some nice ‘corporate social responsibility’ activity that looks good on the glossy pages of an annual report. Companies that put their values into action grow faster than other companies . . . Embedding your values into your business operations is hard but necessary to convince jaded consumers that you are truly committed.”

Jim Nail, Principal Analyst at Forrester

For brands, this shift to values-based consumers means that brands who are traditionally less forthcoming will no longer be able to get away with hiding any sketchy business practices or environmentally-unfriendly operations.

Offering genuine transparency and taking a stance on ethical issues can be risky for brands, but when done right, it can build lasting customer loyalty and trust.

Retail Trend #7: Same-Day (or Faster) Delivery


It wouldn’t be a retail industry trend roundup without mentioning fulfillment, especially when sales from same-day shipping pioneer Amazon are higher than ever.

It seems like customer expectations for shipping times are only getting faster. First came 2-day via the rise of Amazon Prime, then next-day, then same-day. And big-box stores are following in Amazon’s footsteps, with Target growing their Shipt service and Walmart expanding their two-hour express delivery options.

But in the age of instant gratification, shoppers want their orders ASAP. And same-day, store-fulfilled orders are seeing more traction from customers and brands alike. From Amazon’s Prime Air — which uses drone technology to deliver shopper’s orders in 30 minutes or less — to the rise of delivery robot startups, delivery is only getting faster.

(Video) Decode the Future 2022 - Newest retail trends & how to navigate turmoil for retailers

While same-day shipping is far from a new concept — in 2018, 51% of ecommerce retailers already offered same-day delivery — we’re likely to see it become the norm and beyond as order fulfillment technology and standards evolve in 2022.

Retail Trend #8: Increase in Smart Speaker Shopping


It seems like everyone these days has an Amazon Echo or Google Home.

By 2025, projections suggest that the global smart speaker market could grow to over 35.5 billion U.S. dollars.

87.7 million adults in the U.S. own a smart speaker — which equates to an adoption rate of over one-third of consumers.

So, with smart speakers, how will this retail trend progress next year?

12 Innovative Retail Trends to Watch in 2022 (7)

Amazon Echo and Google Home smart speakers have become key tools for many online shoppers, especially as we all spend more time at home during the pandemic. Around 20% of smart speaker owners use them for shopping activities, such as ordering products, conducting product research, or tracking deliveries. This figure is expected to jump to 52% within the next four years.

As we move into 2022, we can expect to see more consumers online shopping without ever having to look at a screen, especially on Amazon. But even brands who aren’t on Amazon can leverage smart speaker and voice search technology. Here’s why: When a voice assistant provides an answer, it also allows users to open the website where the answer was found. For brands that prioritize voice-optimized SEO, this could mean a boost in traffic.

Retail Trend #9: Increased Use of Chatbots


As Covid-19 has limited in-person experiences, retailers have had to severely reduce face-to-face customer support and lean towards more innovative trends in retail. To meet customers where they are, more and more companies have embraced chatbots and personal assistants. The retail industry was already using this technology prior to the pandemic, along with the banking and healthcare sectors. In fact, chatbots are projected to save these industries over $11 billion by 2023.

Though there are certainly benefits to in-person experiences, chatbots offer companies and users alike some big advantages, like shorter wait times and 24/7 availability. Some brands, like Lego, have even created digital shopping assistants, which give customers personalized gift recommendations based on their answers to a few simple questions. Once a user decides on a product, the chatbot directs them to the website where they can complete the purchase.

It’s also important to note that chatbots can go above and beyond recreating in-person experiences — they can create fun, new experiences unique to the digital space. For instance, in 2016 Sephora used the Kik app to create a personalized prom experience for high schoolers. Partnering with influencer Helen Philips, the brand encouraged subscribers to submit questions for her live tutorial via Kik. They also pushed alerts and prompts on the chatbot prior to the event, which drove engagement on Kik, as well as to the Facebook Live broadcast.

– Prediction courtesy of Movable Ink

Retail Trend #10: Successful retailers become experiential


For companies maintaining physical locations, it’ll be key to distinguish themselves from online retailers by providing unique in-store experiences. Though the reality is that brick-and-mortar stores will sell less, they have the opportunity to provide value by strengthening customers’ relationship to the brand. Immersive, Instagrammable experiences, aka “retailtainment,” can bring the brand alive in a way that digital means can’t.

Take Nike’s Time Square flagship store, for example, which has a basketball court with cameras to record shots and treadmills with screens mimicking famous running routes. Though it’s not a huge sales driver, that’s not its purpose. It’s become a huge tourist attraction that boosts brand engagement and awareness.

Meanwhile, Marvel found a valuable promotional tool in their touring Avengers S.T.A.T.I.O.N., an immersive exhibit that has pulled in huge crowds all around the world. Through interactive displays and real-life movie props, the franchise invites fans to step into the cinematic world that’s delighted them for years.

There’s no mistake that innovative retail initiatives will continue to shift to the virtual space, but that doesn’t mean the physical space won’t remain an important one. If used correctly, it can complement its online counterpart to bring a brand to life and give it an edge against competitors.

– Prediction courtesy of Movable Ink

(Video) The BEST Deals In October (Amazon Prime Early Access & MORE)

Retail Trend #11: Ecommerce Grocery Platforms Are the New Norm


Similar to how companies like UberEats and DoorDash changed the delivery landscape, so too is ecommerce reshaping grocery platforms.

12 Innovative Retail Trends to Watch in 2022 (8)

Aided by the pandemic, more than 40% of Americans who ordered grocery delivery during the week ending in March 13th alsotried it for the very first timein 2020. Even more interesting is that many consumers report they’d like to continue their behavior, post-pandemic.

According to a shopping trends study by Mercatus/Incisiv, 90% of e-grocery customers are expected to continue shopping online. Once more drastic shelter-in-place orders are lifted, only 7% of online grocery shoppers said they will return to brick-and-mortar stores.

Among all of the burgeoning delivery services, Instacart remains the most popular in North America. Instacart shoppers offer same-day delivery and pickup services to bring fresh groceries and everyday essentials to busy people and families across the U.S. and Canada.

Recent retail buying trends also show that more than half of Americans say that they trust Instacart more than Amazon Fresh and Walmart.

In 2020 alone, Instacart consumed 57% of the grocery ecommerce market and increased their order volume by 500%. Instacart is an undisputed opportunity for brands to acquire and retain online grocery shoppers.

Work-from-home flexibility dramatically increased consumer grocery shopping schedules as well. Instacart reports that the “numbers of orders placed between 9 AM and 5 PM during the workweek rose by 32%.” Instacart also reports that almost a quarter of Americans are doing more shopping during the week, with orders placed on weekdays growing by 8%.

As America’s shopping habits continue to change after COVID-19, an Instacart advertising strategy should be top of mind–if you’re in-store as a participating retailer. Learn more about the top trends dominating Instacart advertising andunpack the latest insights across our digital aisles here.

“Instacart’s marketplace is becoming an enormous opportunity for brands that can get on the platform early. High conversion rates, average order values, repeat purchases, and lower CPCs are all positive signals for brands, in addition to reaching shopper households all across the US.”

12 Innovative Retail Trends to Watch in 2022 (10)

— Elizabeth Marsten, Senior Director of Strategic Marketplace Services

Retail Trend #12: Increased Focus on Personal Health and Self-Care


In addition to the pandemic changing major consumer businesses, COVID-19 also changed the items that online shoppers prefer to purchase. During the midst of the first wave of the pandemic, consumer attitudes focused heavily on purchasing personal health products. In fact, according to shopping trends reported by Accenture,34% of consumers are increasing their purchase of personal hygiene productswhile cutting back on more discretionary categories.

These changes in spending habits extended well beyond the first wave of the pandemic, as lockdowns increased all over the world. With the rise of these lockdowns, came a rise and a focus on consumer health. Online grocery brands should note these changes, and prioritize the ways they can support healthy lifestyles for consumers, shoppers, and employees.

(Video) Workday Shopping Trends, Retail Tech Innovation & More! | The Download Episode 13 - Full Episode

For instance, consumers are modifying their personal habits such as cleaning more surfaces, increasing their handwashing, and more than 85% of consumers plan to continue these habits following COVID-19. Such changes present opportunities for new personal hygiene offerings within any company’s portfolio.Even virtual tools, such as mediation apps, or anything poised to focus on self-care and mental well-being can be a positive influence not only on consumers but also on overall brand perception in the marketplace.

What innovative retail trends are you most excited about for 2022?

FAQs

What is the future of retail 2022? ›

In 2022, worldwide retail sales are poised to grow 5% year-over-year (YoY) to exceed $27.33 trillion. Although ecommerce spending growth is expected to slow considerably—due, in part, to the rebound of brick-and-mortars—the channel will still account for more than 20% of total global retail.

What are the new trends in retail? ›

10 Top Retail Trends to Watch
  • Omnichannel. The COVID-19 pandemic led to an increase in services like BOPIS (buy online, pick up in store), curbside pickup and BORIS (buy online, return in store). ...
  • Social commerce. ...
  • AI/ML focus. ...
  • Augmented reality (AR) ...
  • Direct-to-Consumer (DTC) ...
  • Visual search. ...
  • Livestream e-commerce. ...
  • Voice commerce.
26 Sept 2022

What is innovation in retail? ›

Retail innovation is all about change that provides tangible value to shoppers. This innovation occurs through new developments or improvements in technology, services, products or business systems. For consumers, it offers convenience and value; for retailers, growth and competitive advantage.

What are the major retail trends in 2022? ›

The 8 biggest trends for the retail industry

Omnichannel tools create more meaningful shopping experiences. Automated technology helps retailers manage the labor shortage. Same-day delivery gives retailers a clear advantage. Social commerce is one of the biggest digital trends in the retail industry.

What are consumers looking for in 2022? ›

In 2022, consumers want to feel a stronger connection with brands, be part of a community, and get more value from their purchasing experiences.

Which of the following are the latest innovations in retail industry? ›

Read more about Retail Software Development services we provide.
  • Trend #1: PoS Systems and Ecommerce.
  • Trend #2: Indoor Positioning — Not Just For Store Maps.
  • Trend #3: Augmented Reality for Consumers and Workers.
  • Trend #4: Artificial Intelligence in the Retail Industry.
  • Trend #5: AI-Driven Demand Forecasting.
29 Dec 2021

What is the future of retail marketing? ›

The future of retail marketing intelligence is closely intertwined with an evolving customer journey transformed by technology. More connected and empowered than ever before, today's consumers demand experiences that are relevant, real-time, and seamless from screen to store.

What technology is currently in shopping? ›

Contactless technology is speeding up the payment process. Shoppers can tap their credit card or mobile device onto a payment terminal, pay for their products, and leave the store within just a few seconds.

How retail stores are changing? ›

Nearly 40 percent have switched brands or retailers during the pandemic, and more than 80 percent have new shopping behaviors. More than half of those who used a new channel or service such as “buy online, pickup in store,” for example, said they would continue the practice post-COVID-19.

Why is innovation important in retail? ›

As consumers grow, their needs and wants develop and change. Innovation is an important aspect in all areas of business, but particularly in fast-changing environments like the retail industry. Adapting to new trends, and the needs of consumers, can make or break a retail business.

What does the future of retail look like? ›

Digital technology – such as smart mirrors, digital mannequins, QR codes, interactive apps, and more – will become a staple of physical retail in the future of shopping, allowing brands and retailers to provide guided digital journeys through brick-and-mortar stores.

What are the main challenges facing retail today? ›

Top 5 Challenges Currently Facing the Retail Sector
  • Maintaining Customer Loyalty. Convincing a customer to spend money at your store is challenging, but the real task is getting that customer to keep coming back. ...
  • Concerns about Security of Data. ...
  • Finding the Right Technologies.

What is Omni retail? ›

Omnichannel retail is a strategy in which retailers engage customers through multiple digital and physical touchpoints. As customers move across these channels, applications and data move with them. This creates a consistent, on-brand experience from start to finish.

Is the retail industry growing 2022? ›

Annual Sales Forecast

NRF is forecasting that retail sales will grow between 6 percent and 8 percent to more than $4.86 trillion in 2022.

What do consumers buy most online? ›

Clothing items. The first item that has occupied the most sold product globally is clothing items. According to Statista, the apparel market will reach close to $2 trillion by 2025. Since the start of COVID-19, online shopping statistics show that 90% of consumers around the globe have purchased clothing items.

What are the emerging trends in e-commerce? ›

Help you reach more customers. Attract new customers who prefer using their mobile phones. Encourage repeat business with push notifications and SMS marketing. Enable location-based personalization.

What brands do consumers want? ›

Consumers want brands to use social to help them connect with others for several reasons. More than half of consumers (55%) want brands to use social to help connect like-minded people with each other, while more than one third (36%) are looking for communities they can belong to.

What products are consumers demanding at the moment? ›

Keep reading for key details on 20 of the most in-demand products of 2022 and beyond.
...
What products are most profitable to sell?
  • Beauty products and cosmetics.
  • Jewelry.
  • TV and smartphone accessories.
  • Designer sunglasses.
  • Children's toys and games.
  • Shoes.
  • Video games.
  • Pet supplies.

What is the fashion trend for 2022? ›

TOP-TO-TOE COLOR. Forget tan, neutrals, or classic creams, the fashion color trends 2022, are all about going bold and bright. Models walking for Christian Dior and Versace were seen in top-to-toe brights that really make a statement.

What are examples of future developments in retail management? ›

Tech will continue to change the retail industry
  • Online shopping is more important than ever. ...
  • As e-commerce grows, brick-and-mortar stores will be restructured. ...
  • Small businesses will need to consider tech upgrades. ...
  • Personal shopping services will increase. ...
  • Social media will continue to introduce customers to brands.

What is innovation in e commerce? ›

What is innovation? Business innovation can be applied anywhere from within the supply chain to advertising, and post-purchase touchpoints. It's about adapting existing and introducing new processes, ideas, services, or products to address challenges, increase efficiency and, often, to boost the bottom line.

What futuristic technologies are proposed to change the current situation? ›

AI and machine learning are the foundation on which many other technologies are built. For instance, without AI, we wouldn't have achieved the amazing advances in the Internet of Things, virtual reality, chatbots, facial recognition, robotics, automation, or self-driving cars, just to name a few.

What will retail look like in 2030? ›

In 2030, retailers must have an integrated omnichannel shopping experience that allows them to plan their supply based on the demand they're driving by personalizing offers, making product recommendations, and better directing customer interest. That's how retailers will keep margins where they need them.

What is the future of omnichannel? ›

The future of omnichannel retail is about phygital experiences, convenience, personalization, and efficiency. Shoppers are increasingly well-informed about their options and care about values and the societal impact of businesses.

What is an omnichannel strategy? ›

An omnichannel strategy is a method that helps you create a seamless experience for customers across all the channels through which you sell. It encompasses the online and offline touch points of your brand, from a point-of-sale system to an Instagram shoppable post, and it's not just for retailers anymore.

What is the new trend of customer satisfaction? ›

the new trend in customer satisfaction is about the implementation of digitalization and robotics programs.

What is one current industry trends in consumer products industry? ›

Another key trend that is shaping the consumer goods industry is value-based choices. India has essentially been a price-conscious market, therefore, brands need to innovate in a way that strikes a chord with the consumers. This in turn will drive growth.

What are some current trends in entrepreneurship? ›

Let's take a look at the latest entrepreneurship trends to pay attention to over the next few years.
  • Working from home and hybrid work. ...
  • Mobile optimization. ...
  • Increased diversity in the workforce. ...
  • Niche market service. ...
  • The rise of the gig economy. ...
  • Long-term cash planning. ...
  • Subscription-based businesses.
1 Apr 2022

Is the retail industry growing 2022? ›

Annual Sales Forecast

NRF is forecasting that retail sales will grow between 6 percent and 8 percent to more than $4.86 trillion in 2022.

Is the retail industry growing or declining? ›

Has the Retail Trade industry in the US grown or declined over the past 5 years? The market size of the Retail Trade industry in the US has grown 3.5% per year on average between 2017 and 2022.

What is the outlook for the retail industry? ›

To learn more about challenges facing the industry and opportunities for growth, Deloitte interviewed 50 senior retail executives for its “2022 Retail Industry Outlook.” Respondents appear optimistic about revenue growth this year: Fifty-four percent expect growth of up to 5%, and 32% expect growth of 5% or more.

What is the future of brick-and-mortar retail stores? ›

Brick-and-mortar retail has a bright future—simply consider the fact that small business revenue has grown 53.05% between 2016 and 2022—but only if retailers can learn from the past and embrace the future.

What do consumers buy most online? ›

Clothing items. The first item that has occupied the most sold product globally is clothing items. According to Statista, the apparel market will reach close to $2 trillion by 2025. Since the start of COVID-19, online shopping statistics show that 90% of consumers around the globe have purchased clothing items.

What are the main challenges facing retail today? ›

Top 5 Challenges Currently Facing the Retail Sector
  • Maintaining Customer Loyalty. Convincing a customer to spend money at your store is challenging, but the real task is getting that customer to keep coming back. ...
  • Concerns about Security of Data. ...
  • Finding the Right Technologies.

How is retail changing? ›

Shoppers are reshaping the retail landscape faster than ever before. Nearly 40 percent have switched brands or retailers during the pandemic, and more than 80 percent have new shopping behaviors.

What is happening to the retail industry? ›

Retail sales grew on average 3.7% annually from 2010-2019. As we emerge from the global pandemic, retail is growing at levels not seen in over 20 years. Retail sales grew by 7% in 2020 and by over 14% in 2021. NRF forecasts that sales will grow by between 6% and 8% to more than $4.9 trillion in 2022.

Is online shopping the future of retail? ›

Online Shopping Is Going Mobile

Market data provider Statista predicts that in 2021, online purchases made from smartphones will account for more than $345 billion in retail sales. With mobile e-commerce, shopping happens everywhere, no brick-and-mortar storefront or laptop required.

What is Omnichannel shopping? ›

Omnichannel retail is a fully integrated approach to commerce, providing shoppers a unified experience across all channels and touchpoints, including web, brick and mortar, and in-app. The goal of omnichannel retailing is to provide customers with a convenient experience across all aspects of their retail journey.

What are the projections for online shopping in the future? ›

New studies projected that the worldwide retail eCommerce sales will reach a new high by 2021. Ecommerce businesses should anticipate a 265% growth rate, from $1.3 trillion in 2014 to $4.9 trillion in 2021. This shows a future of steady upward trend with no signs of decline.

What is retail growth? ›

For retailers this means capturing a larger share of their shoppers' spending by increasing the frequency of trips or size of transactions. What's important to understand here is that the firm stays within its current scope of capabilities, and customer target.

What is the future of brick? ›

Brick-and-mortar retail had some of the most drastic job losses in 2020. Unlike retail job losses during the Great Recession, though, businesses adapted quickly to pandemic-related challenges, prompting a strong hiring rebound in 2021. As we enter 2022, a brick and mortar revolution is well underway.

Will brick-and-mortar shopping survive? ›

In the post Covid world, B&M retailing will not only survive but also thrive by repositioning from selling merchandise to offering value-added services and from a low-tech to high-tech experience in the store. Content may be subject to copyright.

Will brick-and-mortar shopping disappear? ›

Brands that are unable to adapt will disappear, stores will continue to close and brick-and-mortar footprints will continue to shrink.

Videos

1. The future of shopping: what's in store?
(The Economist)
2. Kevin Gates - I Don't Hit It With The Fork
(kevingatesTV)
3. Top 10 Wearable Sweater Trends | Fall Fashion Trends
(The Style Insider)
4. Alibaba's "New Retail" Explained
(Alibaba Group)
5. Top 25 Retail Shop business idea | startup idea | business idea in hindi | Profitable business idea
(Income resource)
6. Create a Short to 'Pink Venom' & show us your moves with #PinkVenomChallenge only on YouTube Shorts
(BLACKPINK)

You might also like

Latest Posts

Article information

Author: Jeremiah Abshire

Last Updated: 10/24/2022

Views: 5773

Rating: 4.3 / 5 (74 voted)

Reviews: 81% of readers found this page helpful

Author information

Name: Jeremiah Abshire

Birthday: 1993-09-14

Address: Apt. 425 92748 Jannie Centers, Port Nikitaville, VT 82110

Phone: +8096210939894

Job: Lead Healthcare Manager

Hobby: Watching movies, Watching movies, Knapping, LARPing, Coffee roasting, Lacemaking, Gaming

Introduction: My name is Jeremiah Abshire, I am a outstanding, kind, clever, hilarious, curious, hilarious, outstanding person who loves writing and wants to share my knowledge and understanding with you.