Future Stores 2024: Key Takeaways from StoreForce

Future Stores 2024 was an incredible event for brick-and-mortar retail, bringing together industry leaders to discuss and explore the latest trends and innovations. As a participant, StoreForce gained valuable insights into the evolving landscape of physical retail spaces and how businesses adapt to meet consumer needs. Here are the key themes from the presentations and discussions at the event.

1. Sustainable Retail Practices

One of the most prominent topics at Future Stores 2024 was sustainability. Retailers increasingly recognize the importance of integrating sustainable practices into their operations. Lush, represented by Erica Vega, Michelle Field, and Amy Merli, provided a compelling presentation on how sustainability is embedded in their business model.

Key Insight: “Every job is a climate job. We link it back to everything you do. It’s not something we do separately; it’s part of everyone’s job.”

Lush’s approach to sustainability involves making it a core part of every role within the company, ensuring that environmental considerations are an integral part of the customer journey. This strategy enhances their brand image and appeals to the growing number of environmentally conscious consumers.

2. Synchronizing Online and In-Store Experiences

Another critical theme was creating a seamless experience between online and physical stores. Consumers today expect a consistent brand experience regardless of the channel they choose to engage with. Lindsay Schofield from Filson highlighted the need for connected commerce where the physical and digital stores operate as one cohesive entity.

Key Insight: “Promotion and exclusives are a naughty word. We don’t want to drive traffic with promotions; we want to do it with product and brand.”

Filson’s strategy focuses on enhancing the brand experience and product quality rather than relying on promotions to drive traffic. This approach helps build a loyal customer base and strengthens the overall brand presence.

3. Inventory Accuracy and In-Store Technology

Inventory management and the use of technology in physical stores were also key points of discussion. Katherine Dela Cruz from Fabletics discussed the challenges and solutions related to maintaining inventory accuracy in a brick-and-mortar setting. As a digitally native retailer, Fabletics had to re-engineer its inventory processes to ensure efficiency and accuracy.

Key Insight: “Communicating the ‘why’ behind big processes and technology changes is crucial.”

By explaining the reasons behind technological and process changes to staff, Fabletics ensures that employees are engaged and understand the importance of these improvements, leading to better implementation and results.

4. Enhancing the Customer and Employee Experience

The event also shed light on the evolving concepts of physical retail spaces and the importance of enhancing both customer and employee experiences. Courtney Hawkins from Mejuri shared insights on how physical stores, supported by technology, can elevate the customer experience.

Key Insight: “Jewelry can be intimidating. We took all the Jewelry above the glass. Experience jewelry how you want to.”

Mejuri’s approach focuses on making the shopping experience more accessible and enjoyable, transforming their stores into community spaces rather than just retail outlets. This philosophy helps in creating a welcoming atmosphere that encourages customer engagement.

5. Empowering Frontline Staff

Another important theme was empowering frontline staff with the right tools and information. Sid Arigapudi from Vans emphasized the significance of equipping employees with data and insights to provide exceptional customer service.

Key Insight: “You have data that can give you a macro-level view, but sometimes it’s just going to the store to find out what’s happening.”

By blending data-driven insights with direct store experiences, retailers can better understand and address their customer’s needs, improving service and satisfaction.

6. Designing for a Blended Retail Experience

Sarah Tava from Fjällräven explored the concept of blended retail, where physical and digital elements are combined to create a cohesive shopping experience.

Key Insight: Designing for blended retail involves creating inclusive and engaging spaces that cater to customers’ diverse needs.

This holistic approach ensures that retail environments adapt and respond to the ever-changing consumer landscape.

Future Stores 2024 provided a wealth of knowledge and inspiration for retailers looking to innovate and enhance their brick-and-mortar operations. From sustainability and inventory accuracy to the integration of technology and the empowerment of frontline staff, the insights gained at this event are invaluable for shaping the future of retail. StoreForce is proud to support our clients as they lead the way in these critical areas, ensuring that physical retail remains vibrant and relevant in an increasingly digital world.

Stay tuned for more updates and insights as we explore the latest retail trends and innovations!