DYK (Did you Know)
Trending Topics on RetailWit
Hello readers! have you noticed that cool little word cloud at the top right of the home page? That is a continually updated tracker of the “Trending Topics” in retail, you can click on any one of them to read articles around that topic, in fact, all categories or tags are clickable to sort the page on topics you want to read more about!
Unfortunately topics like COVID19 has been continuously on there for almost two years now but there are some interesting topics popping to the top this week.
One is “Brick and Mortar” – If COVID couldn’t kill physical retail, nothing can – we are a long way from the ignorant myth of the retail-pocalypse that was floating around pre-covid and physical retail (particularly interesting physical retail) is in the news. For the first time in many years it appears more stores will be built than closed this coming year.
Also, it is rare to see a retailer outside of the ‘big ones’ (Amazon, Walmart, Target, Kroger, Instacart) but Hy-Vee made the cloud!, mostly around their announcement of adding security at their stores, it likely has to do with both the safety of their associates and customers as well as a deterrent to the pandemic of thievery happening in retail. Hy-Vee also announced expansion in new states.
Now onto today’s top retail news stories!
The Iowa-based grocer, which operates more than 285 stores, is boosting it’s store security by creating a “Hy-Vee Retail Security team” to “ensure the safety of our customers and our employees” and to combat “an increase in thefts and different crimes in retail locations”. It is a disappointing but not unexpected need in retail.
Shopping on Social Media Platforms Expected to Reach $1.2 Trillion
According to a recent study by Accenture “Why Shopping’s Set for a Social Revolution” they estimate social commerce will account for 17% of all ecommerce spend by 2025.
6 in 10 B2B Companies Rely on MarTech Tools from Multiple Vendors
MarTech is a hot topic that we expect to see follow other tech trends, an explosion and proliferation of tools followed quickly by a consolidation. According to MarketingCharts.com, one of our favorites, a Dunn and Bradstreet study said B2B organizations are using an average of 7 martech tools each week and most are reporting they also plan to increase investment this coming year. The flip side of any technology and automation it is takes humans to find, vet, integrate and operate – that is a lot of human capital for ‘automation’. Whoever figures out the IOT approach for all of these platforms will win the game; having 100 easy buttons still requires pushing 100 buttons. Without a doubt this trend will show up on our list of predictions.
These Brands Had the Fastest Growth in Consumer Buying Intent in 2021
Doubling down on our love of MarketingCharts.com today, they also shared brands that had the fastest growth in consumer buying intent in 2021. Not a shock to see many are subscription services and entertainment. But another trend to watch is the ‘buy now, pay later’ companies.
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