Predictions for retail trends in 2008?
Gail Markert of Markert Group Consulting-
Global—International looks with a handmade feel are tracking. Beadwork, inlay, carving, hammered metal finishes and any detail that adds character and texture is of interest. Besides the current interest in Moroccan, origins can be Asian, [other] African, South American or tribal in nature.
Green—The environmental movement is gaining traction and the near term focus is on reduced packaging. With Wal-Mart and Target already on board with supplier initiatives, look for key accounts in the gift industry to follow suit.
Big and bold—With intense competition at lower price points, retailers and manufacturers are seeing bright spots of success on larger and unique higher priced items in the $50 to $100 range.
Lynn Armanino of Team Sales-
Salt is now about to take on a new meaning as the hidden properties of salt are now being touted. The kitchen stores and better home stores have discovered the superiority of natural salts and are selling all the different types with a passion. There’s flavored salts, Celtic Sea Salt from Brittany, Grey Salt, Himalayan Pink Salt, Jurassic Sea Salt from Utah, Kala Namak (Indian Black Salt), Trapani Sea Salt from Sicily, to name just a few. This movement is just ramping up. There are books on the benefits of salt and the history of salt as well as salt accessories. We’ll definitely see more about salt in 2008.
Benno Duenkelsbuehler of New Creative and Square Nest-
There will be more emphasis on the entire value proposition—not just the cheapest price, but all the elements of value: uncompromising quality, compelling designs, functionality, on-time delivery, and at the right price. Pricing pressures from overseas (such as RMB currency valuation, Chinese tax law changes, and labor cost issues) will make it tougher to compete only on price, but those of us who deliver on the entire value equation (including the right price) will do quite well. Product innovation and compelling designs that display and merchandise easily in the store will be important to buyers going after a new consumer generation. The strong trend towards Outdoor Living, combined with a growing respect and a healthy concern for our environment, will only become stronger.