HMY > The Latest Trends in Retail

The Latest Trends in Retail

Retail is an industry that moves millions worldwide.  Retail companies account for a large portion of market share, and this translates into huge amounts of money, both in terms of how much customers buy and also how much companies invest.

However, as this sector includes many different industries, all catering to very broad audiences with varied interests and origins, it also faces big challenges in response to changing market trends.

Industries That Grow The Most In Retail      

In recent years, it’s been shown that there are several industries that are increasingly more competitive in the retail world. We’ve already talked about two of them, travel retail – with health and beauty brands as major players, and the food industry.

Both obviously show how retail closely follows consumer habits and lifestyles, reflecting two clear global trends: the growth of international travel, especially at airports, and healthy lifestyles, which directly affects dietary choices.

This last one is creating an even bigger presence at shopping malls, replacing the traditionally dominant brands, like those from the fashion industry.

Trends in Retail Investment

New consumer lifestyles have also changed shopping habits and the way consumers interact with brands.  This has impacted the retail sector, as now attracting a greater number of customers isn’t just about offering a broad range of products at the best price or with the best quality.

What’s important nowadays for consumers is offering a differentiated experience and personalized products, and to do this, investments need to be made at points of sale so as to make them more attractive and innovative.

This is not only true when it comes to points of sale, but also at locations.  The most competitive retail brands have invested heavily in approaching customers through new establishments that are more accessible to the public geographically, moving to or creating stores within urban business districts. In fact, real estate investment in this sector has grown considerably over the last few years, and this is something that’s easy to see in commercial areas in the world’s capital cities.

This isn’t the only area of investment within the retail sector. A more complete customer experience, integrating different sales channels and of course, technological innovations within points of sale, has also led companies to pursue customer service that’s more in line with current times.  This is why brands are increasingly dedicating more resources to digital training for their staff, which based on ISDI (Higher Education Institute for Internet Development) increased in 2017 fivefold compared to 2016.

Given this, we know that customers recognize how companies and their staff are more committed to their needs, improving the global customer service experience with brands.

Latest news

Millennials And Their Relationship With Technology In The Retail Sector20/09/2018

The success of the retail sector in the medium and long term inevitably depends on its adaptation to consumer demands....

Read more

What’s the Travel Retail Shopper Like?18/09/2018

When talking about travel retail, the first image that comes to mind is the airport store.  But this sales channel is becoming increasingly more present at ports and train stations too, the key is...

Read more

The Retail Customer of the Future12/09/2018

Innovation is critical to having a sustainable retail business. Though it’s also important to recognize that you have to pay attention to the market’s trends, and above all else, look at how...

Read more

The Latest Trends in Retail06/09/2018

Retail is an industry that moves millions worldwide. Retail companies account for a large portion of market share, and this translates into huge amounts of money, both in terms of how much customers...

Read more

Travel Retail: Big Business For Cosmetic Brands23/08/2018

Travel retail is booming. Over the last few years, the increasing number of travelers and the expansion of international economies have been driving its growth....

Read more

The Challenge Of Retail: Improving The Shopping Experience21/08/2018

Today’s shopping experiences are very different to those of the past. Customers currently demand many things that didn’t even exist before, but this isn’t the only thing they want, experiences...

Read more

Retail Travel: A Key Channel For Luxury Brands16/08/2018

The increase in airport traffic in recent years has allowed travel retail to grow considerably. There are plenty of brands that have identified the opportunities offered by commercial spaces at...

Read more

Apparel Retail Challenges When Threatened by Online Shopping09/08/2018

Generally, in the retail world, we’ve seen new challenges due to the advent of online shopping. The fashion industry is no different. Buying clothing online has led to a boom in the industry....

Read more

The Retail Sector’s Digital Transformation07/08/2018

Digital technology is very influential in the world of retail....

Read more

HMY Joins The Diálogo’s Board of Honor at the Spanish-French Friendship Association03/08/2018

HMY has become a part of the Diálogo’s Board of Honor, an association that brings together 50 stakeholders from economic and industrial sectors within both Spain and France....

Read more

HMY: innovation in retail