Retail trends for 2017 places great focus on understanding the evolution of the customer’s journey to purchase. Brand building efforts will reach key touch points and become personalised on a mass scale. One prominent source of growth is the digital space. The average South African spends five hours a day online and is ranked 33rd for digital readiness as measured by the ability to support and encourage digital commerce and payments.
Expectations for consumer goods include the growing popularity of organic or healthy foods. South Africans are generally growing more reluctant to purchase high fat, high carb products and are favouring healthier vegetables or organic foods. More households are exploring home planting and a natural lifestyle.
A lot of the movement on environmental issues and its awareness has been driven by the American government. Recent communication by China on its strategy with clean manufacturing reinforces these super economies’ commitment to prioritising climate management. This too affects consumer behaviour that is gravitating towards products that are produced in a way that is not harmful to the environment.
Top 5 trends worth following are:
- Strategizing for growth with digital platforms.
- Marketing your product, brand or business in a contemporary way, for personalisation.
- Explore the “Health is in fashion” and “Do good to the earth” trend. These have become important consideration factors for buyers.
- Review and revise your brand’s price value equation.
- Invest in innovation and renovation.