We are feeling so excited for 2025 and all the exciting projects we have in the pipeline. Ready to leave 2024 behind and bring through positive energy from such a great year to build on our foundations and grow into the business we want to be. Starting the year a fresh, goal setting and talking about what’s in store for retail… There is still uncertainty on the high street and a budget that threatens to strangle, yet some brands are turning themselves around, focusing in on a customer base and nailing some brilliant marketing campaigns. There are now so many different ways for brands to exist, whether it’s through social media, trade fairs or even wholesale platforms like Creoate and Faire. We discuss the Forbes article Game changing trends that will define 2025 and impacts of AI, sustainability credentials, visibility of supply chain, price is still a barrier, pre loved revolution and social shopping - The authenticity of AI and the contradiction of the term ‘Hyper personalised when AI is not a personal touch at all! AI is an incredible tool to use to support and streamline retail but more for processes, rather than trying to be ‘personal’ Sustainability still the top of everyone's agenda but also the one to get bumped down the priority list every time. Pre-loved is now a fully recognised mainstream and we couldn’t be more proud to champion it. Tik tok 12 hour lives feels overwhelming but it is simply the next generation version of tv channel shopping with Gen Z are more likely to trust a Tik Tok review over any other product advertisement! Here are our takeaways from this episode: Identifying your customers - how have they changed the way they live and how can you adapt to that with your brand? Do your values still align? Everything moves quicker as technology continues to evolve at speed and customers have higher expectations, are less brand loyal and want things quicker. Make sure your brand resonates with your target audience and you stay relevant - this may mean you need to pivot. AI is getting personalised and taking over the customer experience, but how ‘personal’ is this? We feel AI has a place but in balance, buying is all about creativity and gut feeling! It is so important to still have this as everyone has their own personal style, it is an emotive and subjective - we can't just use data to move things forward or we will all just look the same. We would prefer AI data use to be less personal and more process driven to be able to drive creativity and solving logistics Sustainability transparency - the next big step is to make sure that eco credentials are as obvious as a price tag on all products. It should be part of a customer's buying decision process. This does bear a cost which needs to be recognised and reflected in margin targets. For retailers to have longevity it needs to be a core business value and core business driver, it’s not just a nice to have - and it needs investment! Support the show If you've liked this episode please rate, follow, subscribe and share :) - and if you already have, thank you! Follow us @buyingandbeyond on Instagram Send us a DM or email
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