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DESIGNING THE NEW SHOPPER EXPERIENCE PRESENTS The OF FUTURE RETAIL 2016 @PSFK | #FutureOfRetail SUMMARY LABS
DESIGNING THE NEW SHOPPER EXPERIENCE
PRESENTS
TheOF
FUTURE
RETAIL 2016
@PSFK | #FutureOfRetail
SUMMARY
LABS
GET THE FUTURE OF RETAIL 2016
The 6th annual report delivers insights on how to design the new shopper experience to build value, drive sales and boost loyalty.
- 10 actions every retailer can adapt to redefine the shopper experience
-20 key trends driving change in the marketplace -Future service concepts for top brands -Perspectives from leading retail experts across the globe
-Plus an 80+ page full presentation
Download a full copy of the Report at: psfk.com/future-of-retail
Access all Reports and Debriefs as a PSFK Members: psfk.com/membership
ABOUT THE REPORT
Piers Fawkes Founder & Editor-In-Chief PSFK.com & PSFK Labs
Over the last five years we have witnessed a radical shift in shopper behavior fueled by the seismic impacts of mobile and social. For our sixth edition of The Future of Retail report, I wanted to provide new guidance to all of the companies actively lining up their omni-channel shopping experiences in place.
Companies must look beyond traditional systems and devices and focus on the design of an intuitive and customized shopper experience. They must provide both utility and education to their customers with a narrative and program rich retail experiences that drive sales.
This report will help us all to understand the opportunities for developing a shopper narrative and apply the lessons to their work so we create a new era of engaging, relevant and vibrant retail.
LABS
Volume 6 | Published November 2015
Download a full copy of the report at: psfk.com/future-of-retail
DESIGNING THE NEW SHOPPER EXPERIENCE
Scott Lachut President of Research &
Strategy, PSFK Labs
In a multichannel marketplace, with infinite information available at the tap of a screen, brands both big and small selling through Facebook, Pinterest and Instagram, and mobile alerts promising the next and the newest, today’s consumers are flooded with more options of what to buy and where to buy it from than ever before.
Emerging technologies and their impact on consumer expectations require companies to take a different approach to retail, regardless of channel or platform.
While utility and relevance form a solid foundation, retailers and brands must strive to deliver more to truly capture the hearts and minds of today's shopper. By tapping into an ecosystem of partners and a community of fellow customers, they can create a powerful halo effect, generating value for all who participate.
In the Future of Retail 2016 report, PSFK describes the 10 Pillars of the New Shopper Experience and the key trends that are driving their adoption in the marketplace. Through the exploration of innovations in service, technology and design we highlight the ways leading retailers, brands and startups are responding to the demands of consumers and differentiating themselves from the competition. Expert insights and analysis offer further guidance as you look to inspire your organization and develop a forward-looking retail strategy.
THE NEW SHOPPER EXPERIENCE
@PSFK | #FutureOfRetail
Winning the hearts and minds of today’s shoppers can’t be accomplished with one-off tactics, marketing campaigns or points-based rewards. Instead brand and retailers must develop a broader process that considers the core needs of shoppers, delivering utility, value and meaningful interactions at every point along their journey.
The graphic below visualizes four key stages in the shopper experience lifecycle, showing how the 10 pillars identified in our study inform and build off one another to create a comprehensive strategy for driving increased engagement, repeat sales, word of mouth and lifetime loyalty.
10 PILLARS DELIVERING THE NEW SHOPPER EXPERIENCE
CREATE CONFIDENCE PERFECT PARTNERSHIPS
ELIMINATE OBSTACLES OPTIMIZE OWNERSHIP
DEMOCRATIZE ACCESSCULTIVATE COMMUNITY
RECOGNIZE & PERSONALIZE ENCOURAGE ADVOCACY
PROMOTE TRANSPARENCY DELIVER DELIGHT
@PSFK | #FutureOfRetail
ENHANCING THE PURCHASE PATH
BUILDING BETTER RELATIONSHIPS
CREATING A VALUABLE COMMUNITY
ELEVATING THE TOP TIER
READ THE FULL REPORT
The 6th annual report delivers insights on how to design the new shopper experience to build value, drive sales and boost loyalty.
-10 actions every retailer can adapt to redefine the shopper experience
-20 key trends driving change in the marketplace
-Future service concepts for top brands -Perspectives from leading retail experts across the globe
Download a full copy of the Report at: psfk.com/future-of-retail
ACCESS INNOVATIONPSFK membership provides you a constantly updated database of over 50,000 ideas for you to leverage as you build the future.
PSFK Membership includes access to:
•360+ Innovation Stories Monthly
•Archive of over 55,000 Ideas
•All PSFK Published Debriefs And Reports
•Events and Networking Opportunities
Become A PSFK Member to access all PSFK Labs Reports: psfk.com/membership
PREMIUMPURPLEBASIC
ABOUT PSFK LABS
PSFK Labs is an innovation agent. We leverage the research skills, expert network and editorial reach of PSFK.com to offer consulting and thought leadership services to the world's most future forward companies, helping them develop new products, services, and ways to interact with their consumers. PSFK Labs has worked with Apple, BMW, Google, Nike, Red Bull, Samsung, Target and many other leading brands.
The team also brings to life the themes of our Future of Retail reports with ideation workshops and immersive trend tours.
If you are interested in seeing a presentation of this report or would like to understand how PSFK can help your team ideate new possibilities for your brand, contact us at [email protected]
DESIGNING THE NEW SHOPPER EXPERIENCE
PRESENTS
TheOF
FUTURE
RETAIL 2016
@PSFK | #FutureOfRetail
SUMMARY
LABS
