At Fagerhult we like to look forward, but let us take a moment of retrospection to reflect on how the retail landscape has evolved over time.
In-line with the industrial revolution that accelerated the economy a consumer society emerged. This urbanised social group, sharing a culture of consumption and changing fashion, were the catalyst the retail revolution. Shops were starting to pop up and those in a privileged position could shop till they dropped. Purchases happened over the counter where personal meeting and relationships were key when getting loyal customers and sales.
What is in the future?
Looking forward a few decades you could say that such experiences and services are as important now as then. Still the personal meeting, expertise and touch-and-feel possibilities are what differentiate retail brands from e-commerce. When bricks and mortar retail needs to create added value for the digital natives of the Generation I, they are transforming their brands into community hubs. These not only fuse commodities, education, cultures, art and design – but also bring digital into a physical experience.
Do not be surprised if high-tech 3D body scanners appear, calculating your exact measurements. So no more jeans fitting agony – at least not because of size doubts. Also, keep checking your smartphone when shopping. We will be seeing increased personal messaging and offers appearing on your phone when entering a certain shop or passing certain aisles of products.
The need for change
Retailers that can adapt and innovate in the face of changes will be in a better position to have a long-term engaging brand. The harsh truth is that the average Fortune 500 multi-corporation only lasts for 50 years – many vanish from our radar over our lifetime. This is why we increasingly understand that new approaches of thinking, doing, being and producing are needed if our brands are to last and consumers are to be kept happy and engaged.
Successful long-lived retail brands such as Macy´s, Bloomingdales, Sears and Abercrombie & Fitch all originated between 1858–1892. They have managed to constantly move their brand and offer forward to remain flourishing retail business today. When disruptive changes of economy, technology and emerging middle class are impacting the marketplace, there also come major opportunities to take advantage of.
Fagerhults role in the evolution
At Fagerhult we are part of the evolvement, creating better and more flexible lighting solutions that can adapt to retail transformations. For instance, our Marathon Tunable, a LED spotlight that can tune white light from 2700 K up to 6500 K. This mean that we can use the same luminaire in the whole shop, but have a light that enhances different atmospheres and merchandise. A lighting kept relevant in changing times.