SIX TRENDS FOR 2024: KEY TAKE OUTS FOR POS
BACKGROUND
2024 looks set to be another challenging year for retail. The UK remains in a pattern of stagnation with growth, at best, forecasted at 0.5%*. This is without taking into account any global geo-political issues or the elections due to take place in both the UK and US. Against this backdrop, retailers and brands will need to work hard for share of shoppers’ spend; whilst the rate of inflation is easing slightly, the pressure on household finances continues. In a survey conducted by Retail Week in October 2023, 46% agreed with the statement that ‘continued uncertainty about the future and the UK economic situation is making me reconsider my spending’ and 43% agree they ‘would like to save money going forward’.
TRENDS FOR 2024
This document examines six key trends affecting retail and explores:
What behaviour and changes we are already seeing in retail
The key take outs for POS and communicating in store
The six trends in the document are:
Price / Value
Loyalty
Sustainability
In-store experiences
Make it easy
Technology / AI
If you are a brand or retailer and would like a full copy of the report, then please contact us at info@teamfero.com