Trend forecasting agency WGSN’s head of market intelligence Lorna Hall predicts five key trends that will affect fashion retailers and brands in 2016.
- Brands will align lifestyle trends into their spaces. We’ve seen the growth of food and drink offerings in store, but emerging globally are workspaces or creative hubs inside stores and branded spaces - an indicator of businesses trying to figure out how to align themselves with the new start-up generation and the growing number of people who are self-employed.
- Companies will increasingly use data and advanced analytics to drive operational decisions. We’ll see the rise of A/B testing and algorithms, and mass personalisation of online retail at scale.
- Retailers will overhaul loyalty schemes, recognising and rewarding the contribution and value of the customer’s contribution beyond the purchase.
- “Instagrammable” retail will come to the fore: flagship store design features created specifically to be shareable on social media.
- Finally, there will be a new breed of braver strategic brand partnerships. We expect to see brands more willing to experiment and test out new collaborations to solve particular problems – whether that’s to raise brand profile and awareness, to follow footfall, build communities or support causes.