We are well into 2017 at this point, and a number of retail trends have emerged that impact small and large businesses alike. In an increasingly changing and unpredictable US retail landscape, staying on top of the trends and adjusting your business strategy is essential for your business’ success.
In the first quarter of 2017, these three business trends are proving especially important: Continue reading
Your retail packaging might look great, but are you using the latest labeling technology for your merchandise? If you haven’t shifted over to using smart labels for your products on store shelves and that are being shipped, you’re missing out on the best technology available for simple and accurate product labeling.
Recent market reports show that smart labels is a growing market, with forecasts that revenue will increase from $4.6 billion to $22.7 billion by fourth quarter of 2026. Why are so many companies making the switch? Here’s what smart packaging does, and how it helps your company:
It’s no secret that food is increasing in popularity as a gift – look at companies like Omaha Steak and Edible Arrangements. According to a research survey from Packaged Facts, more Americans are choosing to buy their loved ones edible gifts for special occasions and holidays. The survey showed over half of the buyers spent $30 or more on each food gift. This high value market is increasing the need for sophisticated retail packaging for edible products.
The most popular edible gift, not surprisingly, is chocolates or candy, which 28% of recipients gifted in the past year. Other popular gifts included baked goods, hot beverages such as coffee, tea, and hot cocoa, and nuts or other salty snacks.
It’s no secret that many brick and mortar retailers have been struggling lately. Some examples include:
- Sears has had declining sales the past few quarters and now, in what the Wall Street Journal is calling a “bid for time,” the company has sold its Craftsman tool brand to Stanley Black & Decker for approximately $900 million.
- Macy’s sales and shares have continually dropped, and have thus led the retailer to make many employee cuts numbering near 10,000. It is expected that their locations will continue to close.
- Wet Seal filed for Chapter 11 bankruptcy again last week – the chain plans to close all stores since it was unable to find capital or a buyer in the past year.
Gift packaging continues to be increasingly popular in the final years of the 2010s. A recent report by Future Marketing Insights highlights the various aspects of the gift packaging industry that they forecast will grow bigger over the next 10 years. These are some of the biggest trends in the new report: