Redefining Retail in 2019, by Phil Hotarek (Lutz Bath & Kitchen), an Education Committee Member

At times, elements of the retail industry may seem to change at light speed, while certain staples stand the test of time.  As professionals in the decorative plumbing and hardware industry, we feel responsible in knowing how to best navigate our businesses to avoid falling behind while avoiding taking a wrong turn.  With heightened awareness of our landscape, we are provided with the knowledge and tools to best navigate through the ever-changing world of retail.  Here are trends that are expected to redefine retail strategy in 2019. 

Connecting to Culture 
Consumers continue to shop with emotion verses shopping with their wallets.  An increased exposure of business practices has created a consumer conscience that has caused buyers to research beyond the dollar.  Your ability to connect with your local culture and attitude will help you appeal to consumers that shop with emotion.  This requires demonstrating social consciousness, corporate responsibility, product integrity and follow-up service. 

Experiential Shopping
Retailers have had to tap into creativity to develop new ideas that attract consumers with the added convenience of shopping today.  Creating an experience is one way to draw walk-ins from new customers and visits from previous clients. Decorative plumbing and hardware products are perfect for creating experiences, becuase they provide potential clients with the opportunity to get a realistic vision of what might go in their homes.  Creating an experience can also be connected to your marketing strategy by sharing customer experiences on social media platforms. 

The Multi Channel Standard
Brick-and-mortar locations play a pivotal role in the sales process, with storefronts being the primary point of sales.  However, the storefront cannot be the only source for generating business.  With access to information on virtually any platform or app, it is crucial for your brand to have a multi-channel presence.  Understanding that different age demographics have their own platform preference is key. 

• Website Presence - Your website should be product and design oriented, easy to navigate and searchable on Google and other search engines. 
• Facebook - Baby Boomers 
• Instagram and Snapchat - Millennials
• Linkedin - Professional presence, relevant articles and blogs
• Twitter - Newsworthy bits and event planning
  

Having a multi-channel presence is the essence of effectively utilizing today’s technology to cast a wide net for lead conversions.
 
Offering a Niche > The “One-Stop Shop”
Direct to consumer products are becoming increasingly popular to combat the convenience of the “One-Stop Shop.”  Offering niche products is the perfect foil to selling convenience.  Consumers have discovered that purchasing everything from one place out of convenience does not always yield the best results in quality or satisfaction.  Highlighting specificity is the key to creating a better connection with the consumer, while at the same time demonstrating the value of your expertise.