These are the top retail trends for 2023

The latest retail developments - these are the top retail trends for 2023

Zukunftsinstitut The Retail Report 2023
Source & Copyright by Zukunftsinstitut

Author: Sydney

When you believe that one crisis has come to an end, the next one already follows. Companies are struggling with fragile supply chains, as well as increased transportation and energy costs, all around the world. The retail report from future institute, offers valuable insights into consumer behavior as well as developments and forecasts in retail.

The author and retail expert Theresa Schleicher describes top retail trends 2023 such as blockchain shopping, Fast fashion and slow fashion as well as the city in 2040. We are currently be going through a change in which people primarily looking for security and more sustainable consumption. The report is particularly interesting for representatives of the retail industry in order to be able to respond to changing customer requirements.

  "We can no longer ignore our supply chains – we need a change in our economic model.” (Didier Reynders, EU Justice Commissioner (European Commission 2022)

Retail Trends 2023 - Crises are the new normal

Fast fashion is going out of style, consumption is becoming more and more conscious and the desire for fair, ecological and social fashion is growing. The aim is for the entire industry to move into a circular economy, accordingly to the report, this can also be ruled out in the case of fast fashion. After all, there are already approaches such as "Design for Recycling", in which recycling is already considered during production. Slow fashion is also benefiting, thanks to new technologies it is becoming easier, better and faster. This means that fast delivery or pre-order services can be offered, which underpins sustainable consumption.

Retail Report - Downtown 2040

Retail is being pushed more and more out of the big cities, above all e-commerce in the matter of the pandemic has once again intensified the extinction of it. After all, a mix of technology and creativity will be required in the future, because this is a fundamental building block to counteract the ecological threats we are facing. Rather, it is also an essential means of supporting conscious consumption and making the world sustainable. Urban planning is associated with a lot of creativity, after all the community is playing an ever greater role and "central inner city squares are being reinvented as creative, real-digital platforms and thus creating real experiences that have been missing from tourist sites for too long".

Retail trends in the 2022 Retail Report

Source & Copyright Zukunftsinstitut

Blockchain shopping

A technology that is currently rather inconspicuous, but has a huge potential for the future. Finally applies Blockchain as the basic technology for Industry 4.0 and lays the foundation for a networked, transparent and intelligent retail world. In addition, it offers not only transparency but also exclusivity, a community and above all, convenience. The retail world will change fundamentally from being a pure seller to a community-based service platform with decentralized structures.

The thematic focus for the Retail Trends 2023:

Retail Trends in the Retail Report from the ZI

Source & Copyright Zukunftsinstitut

retailverse 

Thanks to the Metaverse, companies and consumers can come together at any time regardless of their location. As a result, new touchpoints in virtual living environments and real digital experiences are created.

Rural retail trends

For decades, the focus has been on urban centers, but the rural area offers new potential and markets, which will be concentrated on in the future.

Zero waste packaging 

Packaging is essential for marketing a product, but it creates a huge waste problem. The focus is on alternative solutions that Packaging thinking from scratch.

Customer to manufacturer (C2M) 

Thanks to new technologies, online trading can be completely transformed. Consequently, manufacturer and customer can be reconnected. Because community-oriented platforms that support the new C2M business model, which only produces on request, make this possible.

Get the Retail Trend Report 2023 here

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