How Retail Keeps Reinventing Itself
“When I think about retail, where retail is going, it’s, it’s very fascinating to me.”
Retail is not dead, in fact, all signs point to the fact that retail is on the rise. But the retail experience isn’t going to be what it has always been in the past. The world of retail is evolving, and brands of all kinds are trying to find the best ways to give their customers what they want and need across channels, including in stores. Anjee Solanki, the National Retail Director for the USA at Colliers, has an inside look at what this next evolution will look like, and she shared her insights on Up Next in Commerce.
What is the state of retail today?
If you look at some of the stats that tell the story of retail, you’ll see that the industry is making its way back to where it was during its peak in 2019. Solanki shares that foot traffic, store openings, and retail sales are all on the rise, and she notes that the general atmosphere and feeling of consumers is one of excitement to get back out in the world. So, in short, retail is far from dead.
How should retail evolve to meet consumer expectations?
According to Solanki, consumers are looking for convenience and transparency, so brands of all kinds need to find more ways to offer both. Whether it’s through your ecommerce offerings, with curbside pickup, or a memorable and seamless in-store experience, brands need to be putting convenience and transparency on the top of their priority list.
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