COLUMBUS, Ohio, Nov. 15, 2017 /PRNewswire/ -- Your stores survived 2017. Congratulations are in order. But don't get too comfortable; the carnage is far from over. Investors are still dumping retail stocks and store closings continue at a record pace. 2017 might very well go down as one of the worst for the existing retail industry ever. Until 2018, that is.
So who will be left standing? We can say confidently that only those retailers embracing at least two of the three fundamental consumer driven strategies in our industry will be around much longer — Discount (D), Convenience (C), and Third Wave (TW). In this latest WayfinD article, we define the three key survival strategies, exploring how each one plays out for specific categories and brands, and finally, detail which retail brands are embracing each of them best.
Much of the conversation around the retail industry this past year has centered on the trends of online consumer experiences and the relevance, or lack thereof, of "brick-and-mortar" stores. If we look at the current brick-and-mortar retail environment, we see a mix of old and new – everything from traditional malls with empty anchor spaces to strip malls to vibrant mixed-use developments. As we look ahead to 2018, we ask the forward-thinking question, "What Will Continue to Stand?" in this article about placemaking in retail development
The X-Factor, as defined by the Oxford English Dictionary is "an indefinable but important element, esp. one that sets something or someone apart." Applied to the retail industry, it's worth asking: What sets certain store brands apart? How, after all, can any retail brand position itself rationally against a competitor set to swallow an entire industry whole by being everything to everyone? The only defense is knowing what is indefinable about your brand. And that means you need to manage at all costs the true X-Factor setting your brand apart: expectations. This article outlines four key guidelines to finding and keeping your X-Factor a positive force.
This special holiday issue of WayfinD wouldn't be complete without a list of some sort that encompasses all of the stuff we loved about 2017 – because let's face it, we're optimists; glass half full kind of people. We look back on 2017 with a smile, awe and a little bit of crazy for good measure in this article.
About WD Partners
WD's mission is to drive and shape the future of customer experience. With a passion to solve our clients' challenges and anticipate their future needs, we are customer fanatics that pride ourselves on being on the forefront of change. WD's integrated services include: strategy & insights, design & brand, architecture, engineering, operations consulting and construction services. We are thinkers that do.
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SOURCE WD Partners