Following a respectable December in terms of retail sales, January posted impressive results due to the redemption of all-time high sales of holiday gift cards. And in February, retailers that went to special lengths to engage and serve customers reaped the rewards.
The fact is, shoppers are still keen to be engaged by new concepts and services. Here are some thoughts about what they are likely to respond to in the year ahead:
Gift cards for Mother’s Day (and Father’s Day too)
Moms now outnumber teens as card redeemers, and Dads are not far behind. Giving a card is no longer perceived as lazy but rather as thoughtful, so long as it’s redeemable at the recipient’s favorite stores, restaurants, or entertainment venues.
Now’s the time for retailers and brands to get creative. General Motors, awaken: Where’s the $25,000 gift card, redeemable across all models? The hidden $1,000 gift-card promotion in Cole Hahn, LeSportsac, or Coach handbags? You can experience Christmas throughout the year and pace incremental sales via cleverly crafted gift-card programs.
Enhanced hometainment
Time-diary studies from several sources show that home-based activity is increasing, primarily due to the rise in entertainment options at home. Young and old alike are spending more time at their laptops and desktops, in their “hometainment” centers with enhanced TV, sound, and gaming. The ripple effects are wide, from chic, comfortable La-Z-Boy styles, good-looking enough to be in a Philippe Starck hotel lobby, to “eat-in bought-out prepared food” from savvy food specialists such as Whole Foods Market and Fresh Direct, just so your entertainment time isn’t gobbled up!
Take off 10
Every customer over the age of 35 that we interview purports to feel 10 years younger than his chronological age, even if he doesn’t look it. Consumers are more up for risk and more interested in looking younger (but not foolish) than retailers seem to know. Men’s footwear, for one, is delivering. Many stylish loafers and tie-shoes are now made in more-comfortable materials than leather but still cut a smart appearance. Products and services that deliver a younger appearance and outlook will surge, from Cole Haan shoes through Sunglass Hut.
Dress for crazy weather
The warming and storming patterns that we have experienced over the past few years are something fabric manufacturers and retailers must try to get a better handle on. Possible solutions include engaging reputable weather-prediction services to aid in buying outerwear and inventing fabrics that self-adjust to degrees of wet, dry, heat and cold. “Dress for Crazy Weather” deserves its own store concept with an assortment way beyond sportswear.
Natural selection
Customers are selecting shopping destinations primarily around two criteria: ¬ convenience and aspiration. Shopping formats that deliver on both fronts will continue to win. One such format is the new open community center shopping cluster, which typically has a mix of aspirational specialty stores, restaurants, big-box specialists, maybe a Whole Foods, and no department stores. This mix offers both what you need and what you want. After all, life is about both.
Annette McEvoy is president of New York-based Annette McEvoy & Associates, an independent specialty retail consulting firm.
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