Dynamic pricing, improved in-store experiences, and more
As the U.S. economy continues to its slow climb from the depths of the recession, a better job market and increased home values finally have consumers spending again. Retail sales ticked up 0.6 percent in October. The U.S. consumer is back.
Technological advances and evolving expectations are also altering the shopping experience. Here are 10 trends that will change the way you shop in 2014:
1. Buying local goes beyond the grocery store. The move toward locally sourced items has taken firm root in the food space, both in restaurants and at grocery stores, but now the trend is expanding into the broader retail space. More than a third of consumers this holiday season planned to shop at small, local businesses, up from about a quarter in 2012, according to Deluxe Corp. This shift reflects growing demand for unique products and personalized service, as well as an awareness that shopping local can boost one's home economy.
2. Mobile purchasing goes mainstream.
3. Delivery times will decrease.
4. Everything will be personalized.
5. New outlet stores abound.
6. Your phone is your wallet.
7. Big Boxes continue to get smaller.
8. Couponing will go high-tech.
9. In-store experiences will be better.
10. Big data will bring more dynamic pricing.
--By Beth Braverman, Fiscal Times | January 1, 2014(To read full article, please go to:http://theweek.com/article/index/254510/10-trends-changing-how-youll-shop-in-2014)