This week, Retail TouchPoints revealed its Top 10 Mid-Year Articles, which spotlighted the most-viewed articles during the first half of 2017. Topics ranged from chatbots to e-Grocery to store closings and layoffs to personalization and the “last mile.”
The RTP team discusses what the Top 10 stories reveal about retail trends as we approach the mid-year point, and previews what they believe will be in store for the second half of the year.
Adam Blair, Executive Editor: It’s always fascinating to see the list of most-read articles that Retail TouchPoints publishes twice a year. It’s like a quick sketch of the hopes, fears, worries and wonders of the retail industry. By December 2017, I predict that some variation of the following headlines will make the list for the year’s second half:
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Sears Declares Bankruptcy, Closes Bulk Of Stores
Walmart Buys Warby Parker
U.S. Retailers Protest Trump Administration’s Imposition Of Tariffs As “Anti-Consumer”
Will Wearable Technology Be The New Smartphone?
Black Friday In-Store Sales Don’t Even Meet Lowered Expectations
However, I could be wrong. It happens often enough.
Glenn Taylor, Senior Editor: What stuck out to me was the top article involving the closure of Shoes.com. While everyone constantly talks about the overstored brick-and-mortar segment, this e-Commerce failure occurred with very little fanfare. It shows that even online success isn’t guaranteed if your product offering isn’t generating enough traffic and sales to the site. I think this could be a good lesson for newer e-Commerce brands looking to expand rapidly — not to overcommit to physical locations before having a dedicated consumer base already in place.
As far as the rest of this year goes, I think the growing price war within grocery will continue to dominate retail headlines. While the Amazon/Whole Foods acquisition surely has everyone on their toes, the Lidl/Aldi impact on inexpensive groceries cannot be ignored either. In the end, the consumer will win.
Klaudia Tirico, Features Editor: We may have dubbed 2017 as the year of the chatbot, but I believe this year will continue with a big focus on the growth of e-Grocery. And for the record, I probably would have said that whether Amazon bought Whole Foods or not. The potential for grocery delivery — especially in this convenience economy — is huge, with retailers such as Meijer, Walmart and Kroger already on board. Perhaps other retailers, such as convenience stores and even liquor stores, will get on board with delivery. I could even see Postmates expanding to more U.S. cities (I sure do hope so!).
I hope the second half of the year has a much more positive lineup of top stories, with fewer store closures and layoffs. I am also looking forward to seeing what happens with the epic rivalry that is Amazon vs. Walmart. It should be an interesting ride!
Matt Halchak, Editorial Intern: While it’s not surprising to see the increased role that technology is playing in retail, it is certainly interesting to track its development. I remember going to the mall last holiday season to buy a new pair of shoes. After waiting to find a representative to check on the availability of a certain pair, he came back only to tell me the store was out of my size. I then had to look for different shoes, only to repeat the process — and make me wish I had just looked online. Certainly I’m not the only one who has had an experience like this. Fortunately, the development of cognitive robotics and store chatbots, which are developing in ways that synthesize inventory and supply chain information and make individualized product recommendations, should cut down on waiting times and improve the in-person shopping experience.
It will be interesting to see how the relationship between humans and technology continues to develop over the rest of the year, especially with the growth of delivery services. Chatbots and new apps will make it easier than ever to order clothes, goods and potentially groceries from the palms of our hands.
