1st…. Come To Our Meet Up in NYC
Giuseppe and Piers invite you to a free, early morning session of connection and idea sharing. Held at the prestigious Spring Studios in Manhattan, we welcome our community to reconnect over coffees and pastries before we host a short talk.
During the conversation, Retail Innovation Week publisher (and PSFK founder) Piers Fawkes will interview retail expert and author Giuseppe Stigliano about the contents of his new book, 'Redefining Retail - 10 Guiding Principles for a Post-Digital World'. Specifically, Piers will try to understand how the customer experience may change in this age of Machine Thinking.
PSFK Macro Analysis: Retail Landscape
January 2024
From the research we’re gathering on PSFK IQ, several prominent themes are shaping the industry.
Retailers are focused on creating immersive and interactive experiences to engage customers on a deeper level. This includes leveraging technologies like virtual reality and interactive installations.
Personalization and customization are key considerations, with retailers offering tailored recommendations and interactive tools.
Sustainability and circular economy principles have become integral, with recycled materials and ethical practices being embraced.
Technology integration and social media utilization are prominent themes, enabling convenient and personalized shopping experiences.
Collaborations and partnerships are flourishing, leading to exclusive products and innovative experiences.
Lastly, dynamic pricing and promotions optimize revenue and incentivize customer behavior.
Recent Retail Innovation Case Studies That PSFK Has Been Tracking
Classic Watch Club founder Henry Flores shares his story to the New York Times and highlights the need for diversity and inclusion in the luxury watch industry, inspiring business leaders to promote diversity in their fields. Learn More
Oma's Soep, a soup brand in Amsterdam, has introduced green "chat baskets" in 10 grocery stores in the hopes of encouraging more in-store conversations between shoppers, especially between older and younger generations. Learn More
As part of a retail innovation initiative, Liverpool John Lennon Airport has opened a sensory space in their departure lounge for passengers with cognitive or sensory impairments, improving accessibility and offering a more comfortable travel experience. Learn More
Unilever is partnering with Be My Eyes to offer AI-assisted cooking for blind and low-vision shoppers. Building on the introduction of on-pack Accessible QR (AQR) codes by Zappar on Unilever's products in the UK, the company is now trialling Be My Eyes technology with its Colman's Singapore Noodles Meal Maker. Shoppers can scan the AQR code to connect with a volunteer or an AI chatbot for cooking instructions. Learn More
“Weed farmers’ markets” have proved a hit for both buyers and sellers.The were designed as a temporary solution for licensed cannabis farmers who were unable to sell their harvested crops due to a slower-than-anticipated rollout of statewide dispensaries. Learn More
A micro-retail village in Texas offers Gachapon - Japanese vending machines - that will offer unique toys reflecting Houston's diverse heritage. Learn More
Rolls-Royce Sunningdale has reopened its doors after an extensive redesign and redevelopment. The new showroom provides a contemporary and luxurious retail space, offering clients an immersive Rolls-Royce experience. The redesigned space showcases Rolls-Royce's contemporary visual identity, designed by Pentagram, and incorporates elements of heritage while emphasizing craftsmanship and customization for clients. Learn More
After receiving personalized nutrition reports based on genetic and behavioral data, customers can review their unique dietary needs and make informed food choices while shopping at the Earth Fare grocery store. They may also have the option to purchase custom-formula vitamins and supplements, consult with dietitians, receive recipe recommendations, and access future services like personalized supplements and meal kits. Learn More
Ikea to bring "plan and order point" smaller stores to Los Angeles. These pick-up locations are just a few thousand square feet, compared to the Burbank Ikea, which is the company's largest in the U.S. at 456,000 square feet. Learn More
A new Nike Orchard Road store in Singapore covers 28,000 square feet across three floors, making it Asia's largest mono-brand Nike store outside of China. It offers a range of services, including online-to-offline (O2O) services, Jordan Brand merchandise, training and wellness programs, and customization options. This move reflects the growing interest in sports among Singaporeans and provides a hub for athletes of all levels. Learn More
Slow Motion Sauna in King's Cross offers a Scandinavian-inspired wild spa experience with mobile saunas, plunge pools, salt scrubs, and showers. It's part of King's Cross' Mind Your Brain season promoting mental health. Sessions are thrifty at £6 for an hour, encouraging communal wellness. Learn More
The FutureParty say that YouTube's 'living alone vloggers' have sparked a shift in leasing and buying habits, romanticizing solo living and daily routines. This trend reflects young people's desire for personal space and financial independence amid economic challenges. Searches for one-bedroom apartments have surged, suggesting a cultural shift towards valuing solo living. Learn More
Business Strategy Research
This section requires PSFK IQ membership:
Taco Bell plans to Accelerating Growth through Digital Innovation
Chobani's Marketing Strategy: Innovating, Resonating, and Engaging the Masses
L'Oréal plans Retail Strategy to elevate Brand Image through Strategic Innovation
Sony Electronics Sets Course for AI-Driven Innovation
DICK'S Sporting Goods plans to use AI to Propel Data-Driven Growth in the Future
JetBlue's AI Strategy to Empower Growth and Efficiency in the Future
RH's Retail Strategy: Elevating Brands and Transforming Spaces
COTY's Retail Strategy: Driving Growth with Integrated Omnichannel Experiences
ILIA aims to Enhance Digital Experiences Through AI
How Chase's AI Strategy Will Evolve Customer Experiences and Operations
Chick-fil-A Unveils AI-Powered Optimization Strategy to Transform Customer Experience
Alo's AI Strategy to Unlock Future Growth and Enhance CX
Target to Game-Change Operations with AI
Post Consumer Brands to Fast-Track Growth and Optimization through AI-Powered Strategy
How Harley-Davidson will Harness AI to Power its Data Revolution
Read our sibling-newsletter: PSFK Weekly
Market Data Overview
Analysis of retail innovation statistics tracked on PSFK IQ reveal businesses' responsiveness to shifting consumer preferences and societal factors. Key themes in the data include revitalizing local economies via creative solutions like offering free rent, prioritizing strategic packaging to differentiate products in competitive markets, and catering to budget-conscious consumers with emerging trends like affordable "minimonies" for weddings. Additionally, retailers must navigate the delicate balance between embracing progressive values and avoiding customer alienation. To remain relevant in a dynamic landscape, retail businesses must stay attuned to these evolving trends and adapt their strategies accordingly.
AI Notice: Using human research as its foundation, the content, analysis and certain imagery has been developed using multi-step, fine-tuned artificially intelligent tools. All newsletter content has been reviewed by human team.