Survey shows retail design counts more than ever now
By Retail4Growth Team | April 02, 2021
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 role of brick and mortar stores seems to have been transformed, thanks to the pandemic that has swept across the world. But even as questions have been raised about the future of brick and mortar retail in a post-Covid world with social distancing being the norm, it appears that store design is being seen as more important than ever, at least according to the inaugural Store Design & Experience Benchmark Survey produced by design: retail and powered by Retail TouchPoints.
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:
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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.
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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”.
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Renovations: 60% of retailers plan to renovate approximately the same number, or more, stores compared to 2020.
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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.
