In the coming months, physical retailers’ success will depend on their ability to meet consumers’ demands. This piece reveals 5 instore retail trends for 2023 that retailers can benefit from.
Keep reading to see examples of brands that are taking advantage of physical retail space, as Mood Media take you on a tour of London’s most forward-thinking retail stores.
From stores to destinations
These days, customers are expecting an experience beyond the transactional. Brands are transforming their physical spaces into social settings that encourage brand discovery; offering something that ecommerce can not.
Instore service partnerships, such as cafes, grooming parlours, tailors and masterclasses are increasing time spent instore significantly and giving way to a new breed of multi-purpose destinations, which are fast becoming the consumer expectation, rather than a niche bonus to have.
5 Instore retail trends for 2023
We will now explore 5 key instore retail trends for 2023.
1. Customisation
The need to create consistent omnichannel experiences instore is more important than ever. According to research from Salesforce, 75% of business buyers expect the companies they buy from to provide personalised experiences. Brands need to be able to offer the consumer something beyond the purely transactional. They need to provide excellent service that can’t be replicated online, offering expert knowledge, or spaces where people can get together and enjoy an experience. This needs to be more than simply making a purchase, such as community hubs or ‘phygital’ focussed stores.
The use of technology via interactive digital screens, RFID mirrors and virtual sampling stations to find the best-suited product for you is a popular way to incorporate customisation into retail spaces. Other examples are Levi’s “Tailor Shops” which offer repairs and tailoring services instore, as well as allowing customers to customise their Levi’s apparel through stencilling, embroidery, distressing and more.
2. Brand immersion
This one of the instore retail trends has seen successful retailers transform the physical retail space into interactive showrooms that truly reflect their brands’ ethos and personality.
Immersion through play allows brands to engage consumers on a whole new level, turning the customer experience into a user-generated ‘playground’. Lego and Nike are great examples of this, using new tools and a creative mindset to engage.
Immersion through art is another way for brands to channel emotions and entice customers into their world. Examples include Flannels and Matches’ 5 Carlos Place.
3. Community
The physical space can offer something that online retailers cannot. More than a tactile experience, consumers have another reason to visit the brick-and-mortar store: the sense of community and belonging that they evoke. This one of the instore retail trends helps to boost customer loyalty.
- Collective
Brands present their stores in such a way that customers feel at home. For example, Tod’s on Sloane Street was built to resemble a sleek apartment, inviting you to experience the Tod’s lifestyle in comfort. - Communal
The store is transformed into a meeting place, with internal cafes, restaurants and even beauty salons like those found at Primark. - Collaborative
The store becomes a living space where a community learns, plays sports, or discovers a variety of things as a group. Vans on Oxford Street, for example, hosts regular workshops for customers.
4. Convenience
Convenience is another one of the key instore retail trends for 2023, meaning online and offline channels should be seamlessly combined. The birth of the ‘phygital’ store has given brick-and-mortar the freedom to no longer be limited by inventory, but able to offer a full range of products for the tech-savvy consumer. Matches’ 5 Carlos Place, for example, has a 90-minute delivery service for online purchases made instore. Tommy Hilfiger’s Regent Street flagship store boasts a social space within its cafe, where tables incorporate interactive ecommerce screens to enhance impulsive purchase behaviour.
Stores are also adding convenience through additional services. From partnerships with cafes and bars, to offering beauty treatments and yoga classes, the retail store is no longer an in-and-out destination. It must provide an experience.
5. Sustainability
According to a 2021 Mood Media survey, 67% of consumers worldwide declare it is important to them that the brands they support are committed to being environmentally friendly. Shoppers expressed that it was equally important (66%) to them that the stores themselves are environmentally friendly.
Brands such as Adidas have taken this consumer shift in mentality into consideration, not only with their packaging and limited waste efforts, but also within their physical spaces. As an example of this one of the instore retail trends in action, throughout the Adidas Oxford Street Store, consideration has also been given to respecting and protecting the environment, by using a large range of sustainable and responsibly sourced materials including recycled plastic, foam and textiles, as well as the 100+ digital touchpoints all being powered by green energy.
Tap into these instore retail trends for 2023
Now you’ve seen some of the most forward-thinking brands and the ways that they are leading the way with instore retail trends for 2023, it’s time to figure out how you can benefit from these.
Consider your customers’ pain points and the ways that you could create more of an instore experience. Whether you use customer service, technology, or partnerships, there are countless ways for any brand to engage their customers through these instore retail trends.
Want to see more instore retail trends?
To level up your instore retailing, check out our Ultimate Guide to Visual Merchandising.
Holly brings a wealth of experience in both print and digital publishing. As Modern Retail’s Content Editor, Holly is passionate about helping independent retailers to thrive in today’s ever-changing market.
