Retail trends to look out for in 2019

2018 experienced an immersive and experiential side of retail. It observed a journey that involved discovering and adopting marvels like the best of technology, entertainment, engagement, utility and data for both the consumer and retailer. With an interesting shift in customer buying patterns, an increase in digital acceptance as well as technological advancements, the year saw a successful implementation of practices which were otherwise deemed to be a far-fetched dream. One of them is engaging in the concept of PHYGITAL retail and the other, embracing the New Retail revolution.

Retail revolution within the country that brought about a paradigm shift which redefined shopping, recreation and leisure experiences for many. Our multi-faceted retail addresses have been delighting visitors with versatility, variety and premium quality for over a decade now. We made not one but many radical yet effective changes in our approach, in order to go beyond exceptional customer service, to an overall customer experience.

This moved on to forming large ecosystem partnerships and collaborations, integrating brand value and engaging customers to the fullest in order to create a lasting and memorable experience that’ll set a benchmark. To begin with, making the consumer’s trip to the malls and spoiling them with multiple choices.  WiFi within the mall makes everyone feel so connected.

It provides conveniences like One-touch Parking payment, one-touch valet, one-touch concierge along with having its own social network for millions of consumers.  For Retailers, the app provides a disruptive platform to enable channel-based consumer targeting and further allow brands to host their virtual store's fronts on Lukout to enhance discoverability & device proximity campaigns to target consumers via big-data powered analytics dashboards. This customer is a distinct personality and is always on the look-out for a holistic and seamless experience that is curated specifically for him/her and not mass produced. This app gives them just what they need.

Retail revolution is at its peak, but there is so much left to achieve. 2018 saw data become more valuable to the retail sector than ever, it will continue to dictate the way. Retailers will sell experiences at their stores, not just products. Stores that only provide styling, makeovers, and sampling services, will pop up in order to provide customers with a delightful and memorable experience. The Internet of Things will make shopping easier, cheaper, and more convenient. Leveraging augmented reality, for customers to engage better will become a norm. Shopping opportunities will soon be available anywhere, anytime with options for purchasing products “on the go”.

This article is written by Pushpa Bector, EVP, DLF Shopping Malls.