Author: Jennifer Setteducato
Source: CSA The Business of Retail
When the thought of retail in the year 2030 comes to mind, some would assume shoppers would be clamoring for a futuristic “Jetsons”-like experience. It turns out shoppers are much more down to earth when it comes to what matters to them most.
That’s according to a new JLL study that explores what shoppers expect from retailers in the next decade. It revealed that, more than anything, consumers want the basics: skilled customer service, personalization, and convenience.
“The Future of Retail is…” report surveyed 1,500 consumers on their expectations of retailers and shopping experiences in the next decade. Here are some of the key findings:
An efficient customer experience. Less than one-third of respondents said that some form of technology would make their shopping experience better. But more than one-half indicated that a skilled customer service person is the biggest factor in improving their shopping experience.
Fresh new retail concepts. Shoppers (37%) expect to see fresh, new retail concepts in their local centers in the next 10 years. This may mean landlords offering more short-term leases and staying aware of the latest hot brands.
Food-and-beverage is key. Shoppers (33%) want to see more food-and-beverage options, as well as entertainment, in their local shopping centers. According to the report, 40% of consumers choose which center to shop at based on its food-and-beverage offerings. Furthermore, JLL expects the food-and-beverage space at malls to jump 12 percentage points to 26% in the next 10 years.
Healthy lifestyles are top-of-mind. More than 40% of shoppers said they open green spaces in their local centers, while another nearly 40% want healthy food and drink options while they shop. While only 17% of respondents want a gym at their shopping center, JLL reports that the number of fitness tenant move-ins at centers grew by 13.8% from 2017 to 2018.
Almost 20% of respondents want more urgent care clinics. Healthcare locations available at shopping centers can boost foot traffic – especially when they offer lower rates and longer hours. JLL’s Healthcare group reports that there has been a 47% growth in clinics in the past three years and the number of retail locations could double by 2022.
Easy shopping experience. More than one-third of consumers expect seamless checkouts in the next 10 years. Thirty-seven percent of respondents want same-day delivery; 15% would like stress-free parking, and 26% ask for technology that helps them navigate the center.
There are a lot of age groups to cater to. Retailers have six generations of shopper to please, and each group has its own priorities. Seniors (65%) want skilled customer service. Baby Boomers (37%) are looking for more entertainment and dining options, while 41% of Gen Xers desire health-focused food and beverage retailers.
For “Xennials” (classified as a transition group split between older millennials and younger Gen Xers), 41.5% said they expect same-day delivery options to be mainstream. Millennials (73%) would like for stores to remember their personal preferences. Gen Z (49%) puts an emphasis on low prices and discounts.