What’s next? Retail trends 2021
With our industry expertise and the help of comprehensive global research, we’ll bring you the key trends that are already emerging and the customer mindset that will reshape retail in 2021. Here’s just a little taste of our Trends 2021 book in the New Year.
RE-COMMERCE
Old is the new…new
As with many of these trends, this first one came as a response to the Coronavirus pandemic. With more time at home, many of us found the opportunity to clear out some clutter and, in most cases, make a few quid while we were at it. Re-commerce has seen a huge boom as part of a complete overhaul of our attitude to apparel. 79% of consumers plan to cut their clothing budget in the next 12 months, so we can expect to see more of them buying second hand. Even luxury brands like Selfridge’s in London have picked up the re-commerce crusade. As part of Oxfam's Second Hand September campaign, a space in the department store was curated with thrift treasures and vintage gems.
On the high street, fast fashion giant H&M’s latest collection is made entirely from waste (and a few more unusual fabrications) such as grape skin and wood pulp.
“Even as the retail industry has slumped, dragged down by disappointing earnings and an unending trade war, resale is exploding”
– Forbes
Our Tickety Take
A staggering statistic – 64% of the 32 billion new garments made each year end up in landfill. Customer’s shopping behaviours and budgets are changing. If they’re unsatisfied with a brand’s eco credentials they will simply shop elsewhere. With this in mind, we believe it’s key for brands to embrace sustainability across all industries. Sustainability is no longer the ‘nice to have’ part of a business model – it is a must have.
VALUE
The rise of own brand, the importance of value
We’re always hot on the topic of value communication at Tickety Boo Creative. It’s one of our founder Jude’s areas of expertise so we’re encouraged to see it as a key trend next year. The pandemic shook spending habits and the food retail industry in particular. With a looming recession and countless jobs lost in the fallout, many will find themselves stretched thin. This is a key driver when navigating purchasing decisions; customers increasingly want good value for their money. At the height of lockdown in demand items were removed from promotions (for obvious reasons) but as restrictions are loosened or lifted entirely, we’ll see a return to the status quo. Consumers will feel safter now to don a mask and shop around for the best deals. Alternatively, with the growing shift to online shopping, customers will find it easier than ever to shop and compare deals (that’s if they can get a delivery slot, of course).
It also becomes a unique opportunity for retailers to reposition their own brand offerings. During the height of the first lockdown shoppers looking to stock up found their preferred brands were unavailable and chose own brand equivalents. The added bonus to private labels is that they’re also more affordable and better value – 44% of consumers cited both these as reasons why they started buying own brand products.
Our Tickety Take
In a time where value might trump all other factors – including brand loyalty – a clear, competitive and considered value offering will be essential for retailers if they want some of their customer’s hard-earned cash. We see this as a real opportunity for brands to develop their own brand look and feel, too, from navigation to shelf edge. Making the customer your priority and understanding their needs and what’s relevant to them should be the focus at all times but critically at a time such as the one we find ourselves in. Get it right and they can convert their customer’s short-term switch into long-term loyalty.
THE NEW NORMAL
Navigating retail in the Covid age
Coronavirus has not only forged new retail trends; it’s accelerated anticipated trends too. Re-Commerce, and generally a more conscious attitude to consumption, is just one of these. There’s a renewed love of local too, which is encouraging to see.
Our clients, Maygrove, found a demand grow locally for proper fresh milk from their farm. As a family-run farm selling boxes of high welfare meat, this would be a completely new venture for them. Tilly Lovegrove tells us about how she saw an opportunity to bring the farm’s fresh milk to locals.
“Our neighbours and family who live away from the farm started taking some of our milk (as we had lots going spare). This was proving popular and through word of mouth we began getting a lot of interest in our milk.
Meanwhile, the already huge shift to online shopping has become more of a necessity than a preference. Previously those less au fait with ecommerce have increased their use of online retailers, especially those offering groceries and essentials. This shift in behaviour is likely to carry on beyond lockdown. This is good news for retailers who previously experienced online sales growth of 14% over four years saw a 25% uplift in a two-week period in March 2020.
Our Tickety Take
Limitations can be a key to innovation. Whether that’s local businesses like restaurants and cafes changing to delivery models or big retailers using technology to offer the same personalised interaction as an in-store experience. Those who can shift at pace to what their consumers need are the ones who will succeed as the industry recovers in earnest. Or you could do nothing and be the next Blockbuster.
RETAILTAINMENT
From real life spaces to digital stages
We’ve seen exceptional retail entertainment emerge in recent years as a trend. House of Vans was more than just a shop – BMX, art, music, street culture and fashion all mixed. It even featured a cinema, café, live music venue, art gallery and a skatepark.
What to do during a pandemic when your bricks and mortar store is steeped in experience for your customer? You take it online, of course! Superdrug Tv is an amazing example of this, it’s a YouTube Tv show presented by Radio DJ Daisy Maskell. It features celebrity and influencer interviews and key people from the brand discussing all things beauty, skincare, sex and relationship advice. We feel it’s a perfect space for Superdrug to play as it’s where their audience is (not to mention TikTok, of course!).
Our Tickety Take
Brand perceptions are being increasingly gauged on customer experiences. From virtual shopping experiences to reaching out to audiences through social media, brands that strengthen their connections and forge new ones are the ones who’ll reap the rewards.
OUR TREND PREDICTION – POSITIVITY
Power to the positive people
As the rapturous sound of applause for our key workers begins to fade away, we’re finding new way to bolster our positive vibes. We’re big believers in the power of positivity. Throughout lockdown there’s been some amazing grassroots initiatives that have sprung up in response to the Coronavirus. Illustrator Nikki Miles has created daily artwork full of bright pops of colour and motivational messages. It’s even grabbed the attention of Coca-Cola and Snapchat. Her book Be Kind, Be Cool, Be You: Inspiring Words to Live Your Life By, is full of pick-me-up pages beautifully illustrated to help raise a smile. The spirit of charity has been captured in Artist and Designer Morag Myerscough whose energetic and colourful I Have the Power print was created as part of the Artist Collection to raise money for the British Red Cross.
“Art has the power to bring us together, to make us smile and mobilise the kindness movement. For this collection, we sought out empowering artists, bursting with positivity.” – British Red Cross
Beyond rainbow signs being hung from balconies and on windows, there’s the rise of the positivity poster everywhere from the underground and Carnaby Street in London (with words like Hope and Future lit up on LCD screens to resemble neon) to the streets of Glasgow with the Cobalt Collective’s “Power tae the key workers” posters. In the world of colour, Pantone have announced their Color of the Year for 2021, an ‘illuminating’ yellow and ultimate gray which very suitably represent, “A marriage of colour conveying a message of strength and hopefulness that is both enduring and uplifting.”
Our Tickety Take
From what we’ve already seen there are a myriad of ways brands (big and small) and individuals are using positivity to make things a little better, every day. As we look back on a year that changed life the way we know it, we hope this positive outlook will carry on well into 2021 and beyond.