In the spirit of the new year, the TRAUB team shared what they are excited about in retail for 2019. While there is no shortage of great articles on the subject (check out: retail trends to watch in 2019, the retail brands to watch in 2019, the year ahead, what to watch in 2019 and direct to consumer trends to watch in 2019), we wanted to use the opportunity to open up the discussion with our readers.
What are you most excited about in 2019? Let us know in the comments and Happy New Year!
What is your New Year's resolution for the consumer / retail industry?
Morty Singer, CEO had three resolutions for the industry:
"Inclusive sizing is not a fad but a permanent fixture."
"Experience per square foot should complement sales per square foot."
"Smiling in advertising campaigns is to be encouraged."
Bill Gilroy, TRAUB Operating Partner is excited to see some differentiation in the new brands that pop up this year:
"I’d like to see the industry stop producing me too brands targeting the same customers with the same brand language and generate some offbeat, exciting, dangerous or downright weird brand identities, including an outright ban on any brands named [something] and [something]. Enough already. "
What are your predictions?
"The need to be able to disconnect even if for only a couple of hours will become increasingly important as consumer’s reliance on technology continues to grow. I am bullish on those sectors that cater to JOMO related categories 1. Health, wellness, fitness, skincare, nutrients, supplements and food; 2. Apparel: outerwear, activewear, loungewear, performance gear, sneakers, casual footwear; 3. Outdoor experiences, travel and destination vacations. These are the sectors that I think with benefit from the halo JOMO effect and to continue to outperform the market." - Glenn McMahon, TRAUB Operating Partner
"I think finally we’ll see broader adoption of contactless payments via phone or smart watch and it will make life a LOT easier" - Bill Gilroy
“I think physical retail is really back. You can definitely see this in the sprouting of digitally native brands in hot neighborhoods like Nolita and West Village and across the US. There has been a massive takeover by all these millennial brands and it is really fun. Retail is very much alive and kicking.” - Jennie Baik, Founder, Orchard Mile
"The continued adoption of rental as the new prong of multi-channel retail." - Kelsey Groome, TRAUB Managing Director