Last updated : April 02, 2021 11:07 am
A report, ‘The New Realities reshaping store design’ by design:retail powered by Retail Touchpoints shows that 71% of the retailers surveyed said design/store planning/visual component was more important now compared to two years ago and more than 60% of retailers said they slightly increased their investments in store design.
The report says that of the retailers surveyed, 71% said the design/store planning/visual component of the retail industry is “somewhat more” or “much more” important compared to two years ago. Also, 78% said there would be no change in design staff personnel levels in 2021. What’s more, more than half (60%) of retailers surveyed maintained, or even slightly increased their investments in store design.
Here are some quick takeaways from the report:
Store openings/closures: More than half of respondents (56%) said they opened no new stores in 2020, and 38% said they opened 1-25 new stores.Also, 17% of retailers had to close under 10% of their stores, while 69% reported no permanent closures.
Design Budgets: 49% of retailers are optimistic about the future, 37% anticipate 2021 store design budgets will “increase slightly,” and 12% expect them to “increase significantly”.
Renovations: 60% of retailers plan to renovate approximately the same number, or more, stores compared to 2020.
Areas of remodeling/redesign : 66% of respondents said that the front of house was reconfigured to allow for changes in checkout procedures and increased demand for BOPIS, according to the report, 45% focused on store floor/product display area and 37% on fixtures/merchandising strategy.
The survey also shows that store design teams are deploying new materials in their designs due to COVID (antimicrobial, more durable and hygienic options)with 62% already implementing these changes, while another 10% planning them. This survey may pertain to the US market, but is certainly of interest to retail and its surrounding industries in India.