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How the Last Quarter Will Change 2020

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By Published On: October 15, 20190 Comments

Every quarter, the retail industry experiences a roller coaster of changes. From dropping sales to an increase in automation, the transformation is unprecedented.

Power Retail has tracked and traced the changes throughout retail, both online and brick-and-mortar in the last quarter, and have determined a few key trends and predictions for the next three months.

The Quarterly Review is an in-depth investigation into the hottest stories from the last three months, as well as retail trends, detailed insights and an update on the Top 100 Online Retailers.

The Biggest Trends on Our Radar

Retail has gone through a revolutionary rollercoaster this quarter. With Barneys and Forever 21 filing for Chapter 11 bankruptcy to a significant boost in online shopping, it seems as though retail is going through a series of growing pains. What does this mean for the industry?

There’s likely to be a big push on a convenient delivery service that flatters both customers’ and retailers’ needs, as well as a transformation of customer experience. For Power Retail, we’ve seen an influx of interest in click and collect and parcel lockers, personalisation, and the expansion of M-Commerce.

M-COMMERCE

Currently, Europe is leading the way with M-Commerce (Mobile Commerce). According to a new study, 67 per cent of online shopping comes directly from mobile, which isn’t surprising given the recent upgrades in Native Apps and in-app shopping. 

This is compared to a mere 59 per cent in the U.S. According to the Power Retail Spotlight Series: Retailer Apps, only six per cent of online retailers offer an app. But this may see a change in 2020. Apps and M-Commerce could hit the big time, considering that 82 per cent of online shoppers own a smartphone.

PERSONALISATION

It’s a trend that has lasted for many years – it’s almost like E-Commerce’s answer to Millennial Pink. And just like the shade of rose, this trend is staying for a reason. Grabbing the shopper’s attention with large fonts and exciting sales just won’t cut it anymore. Social media has created a persona for every brand, and customers expect the same thing when they make a purchase online. 

Are Influencers Still a ‘Thing’?

This quarter, we haven’t seen as much of an influx of influencers, but they’re still as important for retailers than ever. In the Quarterly Review, Power Retail showcases some incredible insights into the actual influence these social media stars hold. 

There are so many different types of Influencers that grace the screens of customers every day, so it can be hard for a retailer to know which one will best suit its brand. “Our research found that there are effectively two kinds of Influencers,” explained Mark Fletcher, Power Retail’s Insights Manager. 

“There are ones who talk about women’s fashion, beauty, homewares or home and cooking, and they have an impact across the board. However, because of their broad impact, they can also be more expensive to use. At the other end, retailers can choose to work with influencers whose posts are much more specific to categories.”

If you’re keen for more, the Quarterly Review also provides more than fifteen spreads from our insightful shopper Profile Reports – this is an exclusive and important factor for all retailers to consider reding if they wish to understand their target audience to the greatest depth.

This review is too good to miss out on, so be sure to grab a copy and reflect on the biggest, best and worst things that happened in the e-commerce industry from the previous quarter. To find further facts about fast fashion shoppers, check out the latest Quarterly Review by Power Retail, where you can find 50+ pages of content, insights and stats about online shoppers, their attitudes and behaviour from the last quarter. Each Quarterly Review addresses a key e-commerce trend, biggest stories and ongoing issues, and provides a huge selection of important insights, taken from more than 20,000 interviews with online shoppers in the last six months, exclusive to Power Retail.

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About the Author: Power Retail

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