My retail rundown.
Part two, here we go! Last Friday we talked about experiential moving online, video tutorials, brick and mortar closures, supporting small business, and the end of scheduled collection releases. This week, I am bringing you five more retail predictions to look out for in 2021! A few parting words- make sure to support local businesses, research the companies that you buy your products from, and be bold with your purchases! That feather dress and glittery bowtie is all you!
Online Retail Consulting
Because we aren’t able to have in-person shopping consultations, these experiences are moving online to help shoppers get that personal touch from the comfort of their own homes. The well-known Korean skincare company innisfree is one retailer that offers free one-on-one skincare consultations with one of their Korean skincare experts. I foresee many businesses providing similar services in the future, whether it be personal shopping consultations or virtual product walk-throughs. These virtual experiences are being explored now for definite utilization in the future.
Global Online Discovery and Purchasing
As a result of more people shopping online than in store, consumers will have a greater likelihood of discovering international brands with an e-commerce presence than ever before. Popular brands such as Australian e-commerce swimsuit retailer TRIANGL and France’s first online-only retailer Sézane, allow you to import the fashions and trends you love from across the globe. Opportunities to purchase clothing from niche retailers abroad has also allowed for less regionalization and more globalization when it comes to fashion, yet another example of how our world is becoming increasingly interconnected.
Blurred Lines Between Social Media and Buying
Instagram has done it with their shopping feature, Pinterest has done the same with the way in which you can purchase items tagged in photos, so what’s next? Shopping and media often go hand-in-hand, which is why it is my opinion that other platforms such as TikTok and Youtube- who knows maybe even Twitter- will soon be integrating certain buying features in their technology. When Gen Z-ers see something that they really like, they instantly need to know where to find it and how to buy it. Keeping this in mind, in addition to the fact that social media platforms thrive on ad revenue, it’s hard to see how this won’t be the future.
Increased Reliance on Consumer Reviews
Lately, I’ve seen an increase reliance on consumer reviews, reviews done by unbiased third parties such as Consumer Reports, or even unpaid promotions by social media influencers for customers to get a better idea of what they are purchasing. Buying a product, testing it out, and then having to return it can be a big hassle for some, who often buy online just to reduce said hassle. These hyper specific reviews and comments can be an extreme benefit to companies too, who have a loyal and engaged following that is willing to evangelize to others of their excitement for products. Glossier is one company that has thrived because of its consumer reviews and has a detailed approach as to how they capture review data that is worth taking a look at if you, yourself are looking to sell products online.
Sustainable, Ethical, and Value Driven Brands
Although this trend has been coming down the pipeline for some time now, ethical and value driven brands will never go out of style in the U.S., as sustainability and the environment have become an increasing concern within the fashion industry. Brands such as Everlane, Parade, and Biossance have all sought a niche place within their market on the basis of being more sustainable than their competitors. Sustainability reports are even becoming more popular for brands to disclose, a write up on their sustainability efforts and performance. Companies that are reporting on this are only putting more pressure on others to conform to higher ethical and environmental standards. Let’s keep it up retail!