There is little doubt that the rise of online shopping has changed the retail industry. In order to stay competitive within the constantly evolving marketplace that is modern-day retail, high street stores are almost having to reinvent themselves in many ways. New merchandising solutions are being brought in on a constant basis to keep the high street fresh, alive and competitive.

The accurate recording and subsequent effective use of detailed retail analytics is essential for success in the modern marketplace. In today’s technologically advanced society, it is undoubtedly easier than it has ever been to access reams of information. With this in mind, it is rather surprising that there are still some retail organisations out there that do not take full advantage of the analytics at their fingertips. With the advent of a multi-channel retail environment making an already crowded marketplace more competitive than ever before, retailers need to gather all of the weapons they can muster in order to keep up with the competition.

Being able to capture the attention of retail customers is an art form that it has become vital to master in today’s hugely competitive marketplace. Everything seems to move at a faster pace nowadays, and that includes the attention span of the average consumer. One of the most effective methods of ensuring that the grabbing of someone’s attention leads to an extra sale is by the strategic positioning of POP displays. By having impulse merchandise so close to points of purchase, customers have much less time to change their minds about buying something extra before they have to pay.

Although it has always been a vital factor in the successful running of a retail organisation, the importance of the retail audit has grown still further in recent years. The modern-day retailer needs to be able to respond to changes in the marketplace almost instantaneously or face the prospect of being left behind by the competition. In what is now very much a multi-channel retail environment, consumers have the luxury of choice as to where to conduct their shopping. 

As multi-channel retailing continues to become the standard mode of operation within the retail marketplace, the need for a different type of high street store is escalating. This has led to a rise in recent times of the retail concept store, a new weapon in the armoury of retailers looking to attract consumers back on to the high street.

There is no doubt that mobile technology has completely revolutionised the retail industry. The evolution of smartphones and tablets in recent years means that it is easier to access online services than ever before, no matter where the user may be at the time, just look at the new Apple Watch recently released. Online shopping was originally seen as a deadly threat to the survival of traditional high street stores, offering consumers a more relaxed browsing experience and, in most cases, cheaper prices. However, the adoption of new technology by multi-site retailers has seen the high street fight back, with bricks-and-mortar stores now providing a similar experience to that which can be enjoyed online. Showrooming makes way for Webrooming.

The personalisation of a customer’s in-store experience is rapidly becoming a big deal within the world of retail. With the onset of omni-channel retailing, the general expectation of the average customer when it comes to the kind of service they wish to receive has risen markedly. It seems that the balance of power has shifted and now rests in the hands of the consumer. Multi-site retailers are having to adapt to the changing face of the retail marketplace and find ways of replicating within their high street stores the kind of experience consumers already enjoy while shopping online.

The serious economic downturn which gripped not just the UK but most of the western world now seems to be over. The UK government is confident that the nation is no longer in recession, and the general upbeat behaviour of most of the country’s larger business organisations seems to back that confidence up. However, a debilitating financial crisis can have a long-term effect on the spending habits of the general public, with many people remaining steadfast in their newly found cautious approach when it comes to finances. No other business sector has felt the impact of this change in consumer habits more than retail.

The financial climate of recent years has aided the rise of the value retailer, particularly in the grocery sector, with the likes of Aldi and Lidl enjoying a huge increase in popularity. German discount chain Lidl has recently announced that they expect their sales to grow this year by 20%, taking their total past the £4 billion mark. The chain is also looking to double in size within the UK over the course of the nest decade

Over the last few years the retail industry has evolved rapidly, with advances in technology ensuring the marketplace is a very different thing to that of days gone by. The global domination of the internet has undoubtedly played a major role in this evolution. Online shopping now accounts for a substantial percentage of retail profits, with research revealing that consumers in the United Kingdom are due to spend in excess of 100 billion pounds online in 2014. The number of people who purchase goods on the internet has more than doubled over the past decade, with this figure no doubt boosted in recent times by the creation of smart technology. Because of smartphones and tablets, the internet can now be accessed anywhere at any time. This has led to the birth of the omni-channel retail marketplace.