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How are recent innovations shaping the future of retail?
Emerging retail trends are more than just a New Year blog topic. They’re something to keep an eye on all year round, to be sure that you’re not missing out on any new revenue potential.
But how do you know what’s around the corner? And how can you make sure that you’re ahead of that curve?
One way is to look for any recent innovations that are starting to shape the retail sector. New technologies and consumer trends can unlock previously untapped earning potential for suppliers and retailers.
In this article, we’ll look at some of the biggest game-changing retail innovations of the past 25 years, as well as the buying trends that are currently transforming the UK retail sector.
Retail transformation in the 21st century
March 10th 2025 will mark a quarter-century since the Dotcom Bubble burst.[1] Driven by the massive increase in access to dialup internet connections at home in the late 1990s, the Dotcom Bubble saw tech stocks rise in value fivefold, but they fell by almost as much by the end of 2001.
But the impact on the retail sector was a lasting one: in the years since, internet sales in the UK have grown from a 3.4% share of all retail spending in 2007, to a peak of over 30% in 2021.[2] There was a slight drop when bricks-and-mortar retail reopened after the pandemic, but ecommerce still accounts for over a quarter of the UK market.
Trends like click-and-collect have also influenced decision-making by major retailers in recent years. In 2022, Barclays reported that click-and-collect accounted for 40% of all sales for retailers who offered it.[3] Perhaps as a consequence of this, 41% of retailers had closed city centre locations and 32% had opened new stores on retail parks – which can be easier to reach, with convenient (and usually free) on-site parking.
What are the emerging retail technologies?
For retailers of all types, ‘change’ is no longer just something you give to customers who pay in cash; it’s a fact of life, and failure to adapt risks being left behind.
Take traditional market traders, for example. The 2022 National Markets Survey by NABMA[4] looked at 241 market operators across the UK and found that 91% have a social media presence and 69% accept debit card payments.
But a PDQ reader doesn’t just allow you to take card payments; it’s also the doorway to accepting contactless transactions from mobile phones and other compatible devices.
We’ve had the digitalisation of shopping through ecommerce, the digitalisation of loyalty card schemes as apps, and we’re still seeing the digitalisation of cash, first into cards and now into contactless currency.
Personalisation through digitalisation
One emerging retail trend made possible by all this digitalisation is the ability to personalise promotions and loyalty campaigns.
We’ve already seen major supermarkets like Tesco and Asda use their loyalty apps as a kind of virtual currency, with customers able to generate money-off coupons on-demand using their accumulated points total.
But loyalty schemes are reaching their maximum market penetration: 80% of UK consumers are members of at least one loyalty/rewards scheme.[7] And nearly half (45%) of those think that all schemes “offer the same benefits”.
It’s no longer good enough to just have a loyalty scheme; retailers need to differentiate their offering and give consumers benefits that are highly relevant.
Nick Carroll, director of retail insight at Mintel, said: “The use of customer loyalty schemes in the retail sector remains heightened, driven by a continued need for value and a shift towards more instant gratification. To maintain engagement, retailers need to continue to innovate, while keeping personalisation as a key factor.”
Destination retail
The integration of hospitality into retail environments has accelerated in recent years. While large supermarkets and department stores have had on-site cafes and coffee shops for decades, these are now more likely to be household-name fast-food chains and major high-street coffee houses.
Other types of businesses have also moved into retail spaces, including barbershops and hairdressers, enabling shoppers to get a haircut in the early morning or late at night, if the supermarket is open.
Again, much of this shift is being powered by purpose-built apps with hospitality-style online ordering and prebooked time slots. Just one example is the Costa Club app, which allows customers to place a contactless order for their favourite coffee from a Costa Express machine, directly from their phone.[8]
Joining the dots
All of this might sound daunting for brands of all sizes, but digitalisation is the overarching trend that makes it possible to join the dots between all the smaller shifts currently shaping the retail sector.
For example, MRM’s expertise includes digital coupons, which can be redeemed via a printed or on-screen QR code. These coupons can be personalised using each customer’s details, integrated into retailers’ EPOS systems and tracked via an online dashboard.
We can build bespoke APIs to integrate online ordering and click-and-collect into our Newton inventory management and e-fulfilment platform. Newton bridges the gap with the physical world, calculating weights and packaging, and finding the most economic shipping option for home delivery orders.
Realtime reporting down to the individual level means you can track the performance of campaigns and ensure that you are providing the kind of personalisation your customers want from you – and as retail trends continue to change, you can make the necessary adjustments more agilely.
Find out more
Talk to us about the emerging trends and challenges that your business is facing, and let MRM help you sail steady on the shifting tides.
Our team is friendly, knowledgeable and here to discuss your multi-channel marketing needs, from physical packaging and coupons, through to loyalty and reward campaigns that make your customers feel truly valued.
To find out more, call MRM today on 01858 410510 or fill in our online message form for a prompt reply.
[1] https://www.investopedia.com/terms/d/dotcom-bubble.asp
[2] https://www.ons.gov.uk/businessindustryandtrade/retailindustry/timeseries/j4mc/drsi
[3] https://home.barclays/news/press-releases/2022/10/click-and-collect-economy-worth-over-p42bn-as–hybrid–shopping-/
[4] https://nabma.com/version2020/wp-content/uploads/2022/12/NABMA-Survey-2022.pdf
[5] https://www.ukfinance.org.uk/blogs/contactless-turns-10
[6] https://www.ukfinance.org.uk/press/press-releases/rollout-new-%25C2%25A3100-contactless-limit-begins-today
[7] https://store.mintel.com/report/uk-customer-loyalty-in-retailing-market-report