Retail trends are constantly changing – it is a fluid industry where the demand dictates the supply and tried and tested formulas are often usurped by innovation. Many of the retail trends that are starting to become mainstream have been influenced significantly by the growth of discount stores and pound lines.

Cost Polarisation

The middle class is slowly becoming a thing of the past with the gulf between big spenders and thrifty individuals growing. The advent of improved productions means that high quality goods can be produced at lower costs, encouraging more and more people to buy discount goods. Booming shops such as Primark demonstrate there is a high level of trust in cost effective products.

Amalgamating Outlets

The perceived ‘internet generation’ want everything done quickly and efficiently. Spoilt by superstores and shopping centres, people don’t want to traipse across 20 stores for 20 items, they want it all together. Pound stores that sell the essentials from a wide range of different areas are more likely to attract people who are just looking for a few ‘bits n bobs’.

Ultimate Convenience

A hundred years ago, the average person slept for 9 hours per night. This figure has dropped to 6.9 hours now. People are awake and busy for longer periods in the modern day and want everything at their convenience. This means that stores open until 8pm at night can still receive general custom from those arriving home late at night. Furthermore, Sunday is becoming more and more an important day for shopping.

Focus on Women

Retailers are only very slowly understanding that women represent more than half of the world’s population. Advertising is largely populated with imagery targeted at males, with little focus being granted to females. Women are just as likely to scour through pound lines and discount stores as men are and marketing should reflect that.

Self Service

Apple have recently released a self-service system wherein customers don’t have to queue to buy goods. Customers simply have to scan products using their Apple ID and the product is bought. Self-service is becoming more and more prevalent in outlets of all manners. Supermarkets and DIY stores in particular are utilising self-service more and more as it can improve throughput without increasing staffing costs.