The Changing Face of Retail

This report examines the changing face of retail, exploring the ways in which high street stores can attract the online generation, despite rapidly growing competition from e-commerce outlets. A need has developed for retail stores to adapt in order to survive, with the resulting conclusions of many deciding increase consumer engagement with more immersive retail experiences.

Introduction

Sales from retail stores are seeing a constant decline, with industry experts predicting that by 2028, over half of all retail sales will be made solely via online channels. According to the BBC; 16 retail stores are closing daily on average, indicating that retailers are struggling to maintain a physical, traditional, brick and mortar presence on the high street. There is an emerging need for high street stores to adapt to the change in the market to avoid risking losing out to more relevant ecommerce competition.

With rising store costs, improvements in internet accessibility, the uncertainty of Brexit, and the need for brands to stay relevant (especially with the younger, online generation), it is evident that retailers need to offer more than 'just a store,' and are instead investing into creating an entire user journey and experience - fully immersing the customer.

This whitepaper aims to look at both causes and effects with the decline in physical retail stores and explore ways in which retailers can adapt to this change and create the previously mentioned immersive experiences.

Key findings:
o Technology is shaping retail
o More emphasis on creating an immersive experience for shoppers
o Interior and lighting design play a key role in customer experience and leave a lasting impact on them
o 86% of interior and lighting customers would pay more for a better retail experience
o 95% of people are influenced by the exterior of a shop

To read the full whitepaper, please click here:
https://www.industville.co.uk/pages/whitepaper-the-changing-face-of-retail

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Industville is an award-winning designer and manufacturer of vintage-inspired industrial lights and furniture. Using high-quality raw materials, we pride ourselves on bringing authentic hand finished products to our customers. We've worked with a variety of homeowners, interior designers and distinguished retail, leisure and hospitality companies around the world, such as Tissot, Watchfinder, Next, Costa Coffee and Cafe? Nero.

This release was published on openPR.