10 Aug Retail Conference Summary 2015here. Retail Trends
It seems that an overarching theme this year is that bricks and mortar is back. Online is not ‘taking over’ retail as we all predicted. Instead, there is a need for retailers to be across all platforms, having a strong online and physical presence. The key to survival will be innovation; click and collect hyper-personalisation and authenticity are all noteworthy concepts.
Rewards programmes are becoming more popular but companies are forgetting to reward their customers and are instead using the data to spam people. 94% of households in the South Island are signed up to New Worlds Reward programme.Food + Beverage
Online shopping won’t be as popular in the hospitality/food and beverage industry. Customers want a tangible experience; food is associated with being social and human contact. Online grocery shopping is not expected to take off in New Zealand due to the seasonality off produce.
Convenience will be extremely important in years to come, yet traditional fast food retailers may struggle. People are moving towards the idea of ‘fast casual’ – food that is quick, but better quality than brands like McDonald’s. Many malls in Australia are moving towards ‘café courts’ rather than food courts.
Malls and shopping centres need to start catering to Asian Communities. This demographic enjoy eating and then shopping at later hours.
Future of Auckland CBD
Auckland’s population is forecasted to reach 32,605 people by 2025. Office workers alone will create high demand for retail in Auckland’s CBD, however wider catchment will not grow as the city is hemmed in by motorways. It is thought that office use will centre around the waterfront, while residential use will grow further uptown. Justin Kean believes that there will be a convergence around Upper Queen Street and pedestrians will flow downhill.
Retail in Auckland CBD in the future will rely on experience and convenience. It will be driven by population growth and the evolution of the domestic environment. Click and collect, service retail/quasi retail (dentist, doctors, physio, gyms, personal care, childcare) will thrive. There will a need for a suburban service industry to develop in the CBD.