5 Trends Shaping Retail in 2024

Trend 1: Customers continue to shop in-store

Despite the increasing dominance of online retail, a significant portion of consumers still prefers the traditional in-store shopping experience. In the UK, 85% of purchases occur in physical stores, with similar trends observed in Sweden and Benelux. Younger shoppers, women, and city dwellers actively seek out brick-and-mortar locations for a better customer experience, cross-border shopping, and greater personalization. Understanding these motivations is crucial for the continued success of physical stores.

Tip: Explore your options with laminate interiors. The flexibility of laminate allows for diverse colour schemes, patterns, and textures, giving your brand and space a distinctive feel.

Trend 2: Customers want seamless shopping

Customers crave a friction-free shopping journey, emphasising the importance of a seamless checkout process. Over 40% are willing to pay more for convenience and speed. While technology plays a role, a Formica Group Europe survey revealed that only 11% engage with stores based on tech innovations. Basics such as space utilization, cleanliness, and colour harmony are more critical. Focus on these aspects to ensure customers feel excited, inspired, and safe when visiting a store.

Tip: Thanks to the versatility of laminate, the world really is your oyster when it comes to installing different colour schemes. Patterns can sit next to solid colours. A feature wall can be a focal point, and colours and textures can be mixed to create a beautifully bespoke feel.

Trend 3: The rise of pop-ups

Post-pandemic, pop-up shops have become a popular marketing tool, creating urgency and exclusivity. Nearly a third of brands plan to establish or expand their use of pop-ups, connecting them with social media influencer campaigns for heightened visibility.

Tip: You don’t want your exclusive products to get lost among dust and clutter. Choose store materials that are inviting, reflect your brand and are easy to clean.

Trend 4: Selling #LifestyleGoals

Brands are increasingly becoming intertwined with specific lifestyles, looks, and aspirations. This deeper connection with customers begins the moment they walk into a physical store. First impressions matter, and brands that align with customer identities and aspirations create lasting relationships. Whether it's Nike Run Club for avid runners or Le Creuset for dinner party enthusiasts, understanding and embodying customer lifestyles is key to fostering brand loyalty.

Tip: Utilise laminate surfaces to influence the warmth and welcoming feel of a space, seamlessly blending with your brand's aesthetic. As an example, the soft aesthetic of textiles can become a reality in a multitude of interior spaces when combined with the performance features of laminate.

Trend 5: Customers value responsible retailers

Consumers increasingly prioritize responsible retailers, with sustainability and ethical practices playing a pivotal role in purchasing decisions. Half of consumers consider sustainability, environmental responsibility, and recycling as very important, with a third discontinuing purchases from brands with sustainability concerns.

Tip: Embrace sustainability by opting for eco-friendly packaging and products, minimizing manufacturing waste, committing to ethical working practices, reducing your carbon footprint, and respecting human rights.

As we navigate the ever-evolving retail landscape in 2024, staying attuned to these trends will be crucial for businesses seeking to meet the diverse needs and expectations of today's consumers. By adapting to changing preferences and embracing innovation, retailers can position themselves for success in the dynamic world of commerce.
 
Download our Retail Whitepaper, and order your own samples to create sleek and stylish ranges for your future retail projects.