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Retail Innovation Week

PSFK sent this email to their subscribers on August 4, 2023.

PSFKS RETAIL ININIOVATIOIN WIEEIKG Newsletter
New retail innovation ideas and inspiration gathered by the PSFK iQ team.
In today's retail innovation email, we explore a range of themes from the struggles of US malls to the revival of Burberry's flagship store in London, the adaptation of London's retail scene to Chinese Gen Z, the impact of coronavirus on Italy's food tasting tradition, the fusion of physical activity and digital gaming at American Dream, Porsche's fancy EV charging lounge, Ennismore's creative loyalty program, Aesop's unique store design, the importance of understanding consumer expectations, and Schnucks' innovative grocery store technology. Stay informed and gain insights into the latest retail innovation trends and projects.
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Retail Trends that PSFK is tracking in these newsletters

Blending Physical and Digital Experiences
Many of the retail innovations listed involve the integration of physical and digital elements. From digital art auctions to shoppable TV and virtual makeup try-on, retailers are finding ways to enhance the customer experience through the use of technology.

Sustainability and Environmental Consciousness
Several retailers are making efforts to reduce their environmental impact and promote sustainability. This includes initiatives such as Amazon's reduction of single-use plastic, as well as the use of recyclable packaging materials and gender-neutral toys.

Personalization and Experiential Shopping
Retailers are creating unique and personalized experiences to attract customers. Examples include Burberry's flagship store offering personalization services, Flamingo Estate's pop-up store with luxury products, and Club Studio's fitness classes and juice bar.

Automation and Streamlining Processes
Automation and technology are being utilized to streamline processes and reduce labor costs. This is demonstrated by Chipotle testing a robot to prepare avocados, as well as ByteDance investing in robotics for warehouse work.

Expansion and Global Presence
Many retailers are expanding their reach and targeting new markets. This is evidenced by Target's expansion of next-day delivery services to more cities, Harrods and Cifonelli London opening stores in Shanghai, and TikTok expanding its e-commerce business to the US.

Innovation in Travel and Hospitality
There are innovations happening in the travel and hospitality industry. This includes Ennismore's Dis-loyalty program that encourages travelers to try new places, as well as Porsche's charging lounge for electric vehicles, which showcases innovation and sustainability in transportation.

Learn more about PSFK Innovation services
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If you and your team would like to understand how these ideas could be leveraged to inspire your business: [email protected]
As a leading authority on retail innovation and customer experience, we provide businesses with the insights, strategies, and resources they need to thrive in an ever-evolving landscape. Our integrated approach combines research, content, events, and an extensive network of industry experts to help you stay ahead of the curve and seize tomorrow's opportunities. At PSFK, we empower you to unlock your full potential and transform your business with the ideas that shape the future.


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PSFKS RETAIL ININIOVATIOIN WIEEIKG Newsletter New retail innovation ideas and inspiration gathered by the PSFK iQ team. In today's retail innovation email, we explore a range of themes from the struggles of US malls to the revival of Burberry's flagship store in London, the adaptation of London's retail scene to Chinese Gen Z, the impact of coronavirus on Italy's food tasting tradition, the fusion of physical activity and digital gaming at American Dream, Porsche's fancy EV charging lounge, Ennismore's creative loyalty program, Aesop's unique store design, the importance of understanding consumer expectations, and Schnucks' innovative grocery store technology. Stay informed and gain insights into the latest retail innovation trends and projects. Aroenine Al GENERATED e MARKETING STRATEGY GOING BEYOND GENERATIVE CREATIVE FOR STRATEGIC EXCELLENCE m The European mall market is experiencing a boom due to strategic urban planning, while US malls are struggling due to poor urban planning, creating a cycle of expansion into new markets and bust in the US. YD e Y NN of i N - Harrods and Cifonelli London have adapted to the global trend of expansion and globalization, meeting the demands of Chinese tourists by opening a club and store in Shanghai and hiring a social media manager, respectively. As a result, both stores have seen a significant increase in sales. Holman, an AET company, has launched a new retail store in San Diego that provides a unique and luxurious experience for Porsche fans. The store features a tasting bar, coffee counter, and luxurious amenities, as well as certified sales consultants and interactive digital screens, creating an unforgettable and unparalleled experience for Porsche enthusiasts. in fashion, Nordstrom is helping customers stay on top of this trend by introducing a new tool that shows the carbon footprint of products, making it easier to be mindful of the environment when shopping. : Aesop's new London store blends the functionality of traditional retail with the experiential museum-like aesthetic of the British Library, creating an innovative retail experience with its piles of green books, bespoke timber cabinetry, and metal communal sinks. Schnucks is leading the way in retail integration of technology and automation with their commitment to long-term smart store technology. Their Caper Carts allow customers to skip the checkout line, and they are implementing AI-powered inventory monitoring robots and Electronic Shelf Labels to create a truly smart grocery store of the future. vy Wy, v ':'Fr Ty i Tvww rr "1 of customer experience. According to Accenture's study, retailers must understand their consumers' goals and expectations in order to remain competitive and successful in the age of personalization and customization of customer experience. - Burberry's flagship store in London's New Bond Street offers a luxurious shopping experience, featuring the latest collections, personalization services, and signature pieces. The store also boasts a new bar and restaurant, providing customers with an immersive experience and an opportunity to shop and socialize in an environment that reflects the brand's commitment to experiential retail. Tweaked Idea: Swatch's new flagship store in Amsterdam leverages the experiential retail trend to offer a stunning 3D ceramic artwork and a split-level design, combining tradition and innovation to create a unique shopping experience. Tweaked Idea: PENNY's environmental campaign highlights the growing trend of sustainability and environmental consciousness, highlighting the environmental impact of food production and promoting plant-based alternatives to raise awareness of sustainable and ethical choices. -focused shopping. Fanatics has launched an app for customers to shop for collectibles and merchandise, offering exclusive offers and instant access to the company's full inventory, providing a convenient and innovative omni-channel retail experience. Porsche's new charging lounge offers refreshments and amenities to owners of electric vehicles, with fast DC and AC chargers, sanitary facilities, snacks, wi-fi, and a smart mirror - underlining the brand's commitment to sustainability and environmental consciousness. This innovative store is paving the way for other luxury brands to follow suit, promoting environmental responsibility and sustainable transportation in the luxury sector. - Retailers should approach global expansion and localization strategies involving immersive shopping with caution. Disney's Galactic Starcruiser hotel, a flagship immersive experience, closed after reportedly costing hundreds of millions of dollars to build, demonstrating that companies must be mindful of balancing innovation with customer needs and understanding regional consumer trends. American Dream's new entertainment and game activations offer a unique and immersive experience, combining physical activity and digital gaming to follow the trend of the fusion of physical and digital experiences. Players put their strategy and teamwork skills to use and can choose from hundreds of game combinations and difficulty levels, providing a unique and immersive experience that engages players of all ages. and technologies - Mars is leveraging the convergence of industries and technologies, such as ecommerce and digital experience, with their collaboration with Valtech and commercetools to create a composable commerce platform for their D2C initiative. This platform enables Mars to differentiate their brands while gaining economies of scale and autonomy for each brand. : Circularise offers a digital product passport that records and verifies product information such as composition and provenance, allowing companies to trace and verify claims without having to share sensitive data. This helps facilitate re-use and recycling, reducing waste and preserving resources, in turn revolutionizing traditional retail spaces and making them more sustainable. to reduce waste and streamline customer experience - Zalando's new tool helps customers find their perfect size by analyzing two selfies, reducing the need for bracketing, returns, and textile waste while leveraging automation and technology integration for a more efficient customer experience. e apart TikTok is set to expand its e-commerce business to the US, offering Chinese manufacturers and merchants storage and shipping services, while also being responsible for marketing, transactions, logistics, and after-sales services. This move further highlights the growing trend of businesses expanding their online presence in order to capitalize on the growth of e-commerce. Retail Trends that PSFK is tracking in these newsletters Blending Physical and Digital Experiences Many of the retail innovations listed involve the integration of physical and digital elements. From digital art auctions to shoppable TV and virtual makeup try-on, retailers are finding ways to enhance the customer experience through the use of technology. Sustainability and Environmental Consciousness Several retailers are making efforts to reduce their environmental impact and promote sustainability. This includes initiatives such as Amazon's reduction of single-use plastic, as well as the use of recyclable packaging materials and gender-neutral toys. Personalization and Experiential Shopping Retailers are creating unique and personalized experiences to attract customers. Examples include Burberry's flagship store offering personalization services, Flamingo Estate's pop-up store with luxury products, and Club Studio's fitness classes and juice bar. Automation and Streamlining Processes Automation and technology are being utilized to streamline processes and reduce labor costs. This is demonstrated by Chipotle testing a robot to prepare avocados, as well as ByteDance investing in robotics for warehouse work. Expansion and Global Presence Many retailers are expanding their reach and targeting new markets. This is evidenced by Target's expansion of next-day delivery services to more cities, Harrods and Cifonelli London opening stores in Shanghai, and TikTok expanding its e-commerce business to the US. Innovation in Travel and Hospitality There are innovations happening in the travel and hospitality industry. This includes Ennismore's Dis-loyalty program that encourages travelers to try new places, as well as Porsche's charging lounge for electric vehicles, which showcases innovation and sustainability in transportation. Learn more about PSFK Innovation services < | | > i Rl g If you and your team would like to understand how these ideas could be leveraged to inspire your business: [email protected] As a leading authority on retail innovation and customer experience, we provide businesses with the insights, strategies, and resources they need to thrive in an ever-evolving landscape. Our integrated approach combines research, content, events, and an extensive network of industry experts to help you stay ahead of the curve and seize tomorrow's opportunities. At PSFK, we empower you to unlock your full potential and transform your business with the ideas that shape the future. [email protected] Website LinkedIn YouTube Email Copyright © 2023 Retail Innovation Week / PSFK LLC, All rights reserved. Our mailing address is: Retail Innovation Week / PSFK LLC 358 Washington Ave Brooklyn, NY 11238 Add us to your address book Want to change how you receive these emails? You can or .
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