Pamela Danizger, author of Shopping: Why We Love It and How Retailers Can Create the Ultimate Customer Experience has identified three trends have changed the business of retail. "Retailers need to understand the new dynamic that has taken hold of today's increasingly savvy, value-oriented, recreational shoppers.
Here are the three key trends have changed the landscape of the retailing market:
Trend #1: Rapid retail expansion — Today there are far more stores and places to shop, including the internet and other non-store retailers, which means more competition;
Trend #2: More people buy what they don't need — Shoppers need less of the things retailers have to offer, while shoppers' desire drives more people into the store to shop
Trend #3: Shopping has become a pastime, something to do for fun — Driven by desire, not need, people go shopping for recreation and fun, rather than necessity, which means shoppers want more out of shopping than just buying more stuff. They demand an engaging shopping experience.