Behind the Numbers: Reimagining Retail
Reimagining Retail: 2024 Retail Trends (Shark Tank style)—The In-Store Renaissance, Livestream Shopping, and Buying RMNs | Jan 3, 2024
Jan 3, 2024
Analysts discuss major retail trends for 2024, including retailers competing with Amazon, China's impact on US online shopping, and the buying of retail media networks. They also dive into the in-store renaissance, influencer collaborations, live stream shopping, and partnerships in retail media networks.
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Quick takeaways
- Retailers are leveraging TikTok to showcase the in-store shopping experience and attract customers through creator collaborations and entertaining content.
- The potential growth of live streaming e-commerce in the US, influenced by China's success, creates opportunities for selecting the right talent and product categories to fuse live streaming and e-commerce successfully.
Deep dives
Trend 1: Showcasing the In-Store Experience Through Creator Collaborations on TikTok
One of the predicted trends is the use of digital marketing, particularly creator collaborations on TikTok, to highlight the allure of the in-store shopping experience. Retailers are leveraging TikTok to showcase creators enjoying the in-store experience, from picking up a coffee at Starbucks to sharing their purchases. By tapping into the entertainment value of social media, retailers aim to attract customers to physical stores and provide them with an engaging and unique shopping experience.
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