Surveys

10 Retail Trends Expected to Dominate 2017

SurveysMar 03, 2017

10 Retail Trends Expected to Dominate 2017

In its latest market brief, Synchrony Financial predicted that technology and convenience will drive the segment this year.

New York--Technology’s influence is so strong in today’s world that it is starting to drive trends rather than just being a response to them.

In retail, it’s playing an equally large part as many of the trends that are shaping the market seem to be a confluence between the consumer behavior and tech.

Here are the 10 trends that will drive retail according to Synchrony Financial and what they mean for retailers.

1. Interactive shopping experiences. There’s a lot of research that shows that not only do consumers value experiences over owning things, but they will pay a premium for the experiences they think are worth it. This spans all income groups and generations.  

The most innovative retailers are leveraging this trend to get consumers into stores by transforming stores into experiences themselves. Think Williams Sonoma with its in-store cooking classes and REI with its rock climbing walls.

Offering these kinds of experiences entice the consumer to stay in the store longer, browse more and feel more connected to the brand.

2. Augmented and virtual reality. Brands in all consumer product categories are using virtual reality for advertising purposes, not only for 360-degree and 3-D videos, but also for content creation with immersive storytelling and product demonstrations to help consumers experience the products in a way they wouldn’t have before.

A great example of how a virtual reality app can create excitement and engagement is the über- popular Pokémon Go game.

3. Healthy living. Consumer spending on healthy living goods continues to grow.

The Organic Trade Association said consumer demand for organic food has grown by double digits almost every year since the 1990s. Meanwhile, the number of gyms, health clubs and fitness clubs has grown over the past five years while sales for products related to the segment have grown and athleisure has drastically expanded as an apparel category.

4. The “robot invasion.” While not something quite as dramatic as what you might see in the movies, robots have quietly been making their way into the retail segment, mainly in the areas of logistics and customer service.

Some retailers also have brought robots and artificial intelligence into the store, where they have been used to identify products, retrieve items in the warehouse for shoppers and instantly order products.

Target, for example, recently started testing Tally, a robot that travels through the aisles and takes inventory.

5. “Socializing” between brands and consumers.

The two talk via social media, and this communication has become as natural as connecting with friends on the same networks.

In Synchrony’s 2016 Digital Study, the company found that about half of those surveyed said they have purchased a product as a result of social media, compared with only about a third in 2015. The content that makes an emotional connection to the brand, offering a break from sales posts, is the most successful.

6. The ship-to-store option. The concept of ordering an item online and having it shipped to a store benefits both consumers and retailers, Synchrony said.

It saves consumers on shipping charges and the time it takes to browse through aisles for the product they want while retailers are able to drive traffic into their store where customers are likely to pick up other items.

It also gives the retailer the opportunity to fulfill the order from store inventory when available, eliminating additional transportation costs.

7. A new purchase channel: “conversational” commerce. With the launch of the Amazon Echo, a new channel of interaction for consumers was opened--the voice channel. Consumers can order directly from it simply by speaking to Alexa, the “brain” behind the Echo.

Now Google is getting into the game with development of the Google Home software. Even though this technology still is cutting edge, more retailers might also develop voice-based functionality for purchases as it becomes more widely adopted.

8. Partnerships and pop-ups. New retail models have sprung up as retailers look to innovate in the form of shop-in-shops and pop-up shops. They have become ubiquitous in all segments of the market and offer the opportunity for greater reach and to attract new consumers at a lower cost.

For retailers who want to test it out with a low cost and quick concept, partnering with other retailers or setting up a pop-up shop might be the best way to do so.

9. The emergence of a cashless society. Cash is no longer king. The movement started with credit and debit cards and continues today as new technologies take hold.

Though mobile wallets (such as Apple Pay and Samsung Pay) have been around for a few years now, consumer awareness has just started skyrocketing within the past year or so--it’s up from 55 percent in 2015 to 81 percent last year. Regular use is expected to increase again in 2017 as more retailers adjust their point-of-sale systems to accept the tech.  

The benefit of a cashless society is not only ease and convenience for consumers, Synchrony said, but also for retailers, offering not only a seamless point-of-sale experience that speeds up checkout but also customized promotions and personalized marketing.

10. The Internet of Things. What is the Internet of Things? It’s the network of physical objects, like devices, buildings, etc., that are embedded with electronics, software, sensors and network connectivity, enabling them to collect and exchange data.

The tech behind it allows consumers to buy whatever they want, whenever they want.

The benefit for merchants in the Internet of Things is that more data is collected in more places, which can provide great insights into consumer behaviors, market trends, buying pattern and engagement, allowing for more personal interactions and offers.
Brecken Branstratoris the senior editor, gemstones at National Jeweler, covering sourcing, pricing and other developments in the colored stone sector.

The Latest

Lugano Diamonds store in Greenwich, Connecticut
IndependentsMay 09, 2025
Lugano Diamonds CEO Resigns Amid Internal Investigation

Moti Ferder stepped down Wednesday and will not receive any severance pay, parent company Compass Diversified said.

Coeur Percé Scapular Necklace and Love Baby Locket
CollectionsMay 09, 2025
Pieces of the Week: Marie Lichtenberg’s Collaborations for Mother’s Day

Lichtenberg partnered with luxury platform Mytheresa on two designs honoring the connection between mothers and daughters.

Gemfields emeralds
SourcingMay 09, 2025
Gemfields Resumes Emerald Mining in Zambia

The miner announced plans to recommence open-pit mining at Kagem.

antique_Vegas_2024_by_headshot_stories_9454.jpg
Brought to you by
Las Vegas Antique Jewelry & Watch Show: Showcasing the Most Collectible Merchandise from Across the Globe

Gain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.

Stock image of a man’s hands in handcuffs
CrimeMay 08, 2025
Former NYC Jewelry Store Employee Arrested in 2017 Choking Death of Boss

Michel Desalles allegedly murdered Omid Gholian inside World of Gold N Diamond using zip ties and then fled the country.

Weekly QuizMay 08, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
2025 Met Gala jewelry
EditorsMay 08, 2025
5 ‘Superfine’ Met Gala Jewelry Moments

Associate Editor Lauren McLemore shares her favorite looks from a night of style inspired by Black dandyism.

instappraise-1.png
Supplier BulletinMay 08, 2025
Instappraise Introduces Game-Changing Trifold Appraisal Format

Sponsored by Instappraise

Supplier Spotlight -Recorded-Webinar.png
Brought to you by
Watch: The Winston Red: GIA Examines the Smithsonian’s Newest Addition

Supplier Spotlight Sponsored by GIA

Brilliant Earth three stone Sabine diamond engagement ring
FinancialsMay 08, 2025
Brilliant Earth Notes an Uptick in Engagement Ring Sales in Q1

CEO Beth Gerstein discussed the company’s bridal bestsellers, the potential impact of tariffs, and the rising price of gold.

Exterior of Margot McKinney Beverly Hills Location
IndependentsMay 08, 2025
Margot McKinney Lands in the U.S. With New Boutique

The brand’s first independent location outside of Australia has opened in Beverly Hills, California.

Cathy Marsh
IndependentsMay 08, 2025
Verragio Announces New Regional Sales Manager

Cathy Marsh will lead the jewelry company’s efforts in the upper Midwest and western United States.

Pandora gold and silver charm bracelet
FinancialsMay 07, 2025
Pandora Posts Strong Q1, Plans for Tariffs

The company has multiple strategies for dealing with tariffs, though its CEO said moving manufacturing to the U.S. is not one of them.

Headshot of Smart Age Solutions CEO Emmanuel Raheb
ColumnistsMay 07, 2025
The Smart Lab: Building a Seasonal Marketing Strategy for Mother’s Day and Beyond

Connecting with your customers throughout the year is key to a successful holiday marketing push.

Gemfields rough emeralds
SourcingMay 07, 2025
Gemfields Says Emerald Sales Improved in Latest Auction

Its commercial-quality emerald sale held last month totaled more than $16 million, up from about $11 million in September 2024.

Logo for “In the Loupe,” Punchmark’s podcast
TechnologyMay 07, 2025
Punchmark’s Latest Podcast Features a Very Special Guest

National Jeweler Editor-in-Chief Michelle Graff joined Michael Burpoe to talk tariffs, consumer confidence, and the sky-high price of gold.

Harwell Godfrey Met Gala brooch with Mediterranean Blue diamond
AuctionsMay 06, 2025
Harwell Godfrey Reimagines 10-Carat Blue Diamond for Met Gala-Ready Brooch

Designer Lauren Harwell Godfrey made the piece as an homage to the 2025 gala’s theme, “Superfine: Tailoring Black Style.”

Jewelers of America 20 Under 40 for 2025
Events & AwardsMay 06, 2025
Here’s Who Made Jewelers of America’s New ‘20 Under 40’ List

Expanded this year to include suppliers, JA’s 2025 list honors 40 up-and-coming professionals in the jewelry industry.

Sissys Log Cabin Fort Smith Arkansas
IndependentsMay 06, 2025
Sissy's Log Cabin Opens New Store

Located in Fort Smith, it’s the Mid-South jeweler’s first store in Northwest Arkansas.

Gunderson’s Jewelers
IndependentsMay 06, 2025
Gunderson’s Jewelers to Be Featured on ‘World’s Greatest’ TV Series

The episode about the family-owned jeweler will premiere May 17.

Zadok Jewelers Austin store
IndependentsMay 05, 2025
Zadok Jewelers Opens Store in Austin

The Houston-based jeweler’s new 11,000-square-foot showroom will include a Rolex boutique.

Nancy Astor Cartier turquoise and diamond tiara
AuctionsMay 05, 2025
Nancy Astor’s Cartier Tiara Heads to Auction

The turquoise and diamond tiara hasn’t been on the market since it was purchased by Lord Astor in 1930.

David DeCook Crater of Diamonds State Park 3.81-carat brown Duke Diamond
SourcingMay 05, 2025
Crater of Diamonds Yields 4-Carat Brown Diamond

“The Duke Diamond” is the largest diamond registered at the Arkansas park so far this year.

Kraft Mac & Cheese x Ring Concierge Forever Macaroni Necklace
TrendsMay 02, 2025
Ring Concierge, Kraft Partner on Mother’s Day Macaroni Necklace

The childhood craft of making dried pasta necklaces for Mother’s Day is all grown up as the 14-karat gold “Forever Macaroni” necklace.

Angely Martinez emerald Promise ring
CollectionsMay 02, 2025
Piece of the Week: Angely Martinez’s Emerald Promise Ring

Set with May’s birthstone and featuring an earthworm, this ring is a perfect celebration of spring.

Stuller 2025-2026 bridal catalog
MajorsMay 02, 2025
Stuller’s New Bridal Catalog Is Here

“Bridal 2025–2026” includes popular styles and a dedicated section for quick pricing references of lab-grown diamond bridal jewelry.

Americut Gems
SourcingMay 01, 2025
Tariffs & Colored Gemstones: Relying on Stock, Considering the Ripple Effect

Though currently paused, high tariffs threaten many countries where gemstones are mined. Dealers are taking measures now to prepare.

Exterior of new David Yurman store in the Miami Design District
MajorsMay 01, 2025
Peek Inside David Yurman’s New Miami Flagship Store

Located in Miami’s Design District, the 4,000-square-foot store is an homage to David and Sybil Yurman’s artistic roots.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy