ideas to

help you
sell in
2022 and
beyond

Emerging retail trends

and insights from
the editors of

Key insight…
Scarcity is a major selling
point for businesses looking
to maximize sales. Luxury
bakery brand Last Crumb
sold $1 million of cookies in
a four‑month period in 2021. 1
Try producing limited
editions and then
release them at
specific times.
Experiment with the
product-drop model
Creating demand sells, as artists producing limited
editions of their work and sneakerheads struggling to snap
up the latest releases know all too well. Generating scarcity
and hype is an age-old tactic to sell more stuff – and
plenty of brands make this happen with product ‘drops’.
One way to make sure your products are in demand is
to create limited editions of an item, and then release
them only at specific times. If done right, that FOMO
can make people flock to your store.
Plenty of businesses are capitalizing on the product-drop
trend to supercharge their sales. Los Angeles-based cookie
brand Last Crumb operates a waitlist for its products,
requiring would-be customers to sign up to hear about
the arrival of its latest flavors. It works: the waitlist is
currently 50,000-strong. CEO Matthew Jung wasn't sure if
2
the product-drop model would work for the business before
he took the plunge, but viral posts on social media helped
to build the hype that guaranteed its success.
The drop model isn't just useful for direct-to-consumer
baking businesses. It also powers home-shopping
business NTWRK, which sells everything from sneakers
to rare art and NFTs. The exclusive drops have made
NTWRK the digital equivalent of classic shopping channel
QVC, with the site becoming a must-visit destination for
those who want to keep on top of the latest trends.
1
Morning Brew, 2021.
2
Ibid.

Remember…
China's social-commerce
market is driving $351 billion of
sales, with 424 million people
aged 14 and over making
at least one social commerce
purchase a year – that's
nearly half of the internet-
connected population. 3
Try producing limited
editions and then
release them at
specific times.
From ‘shoppertainment’
to TikTok, it's time to learn
about social commerce
Founded in Utah in 2017, bakery brand Crumbl Cookies
now has hundreds of stores across the US. It's supercharged
that growth with TikTok, where every week it releases
a new menu of flavors to its nearly 3 million followers.
Crumbl has realized a key business lesson: it's no longer
just about e-commerce, but about social commerce,
which is already a $36 billion industry in the US.4
The point at which social media and online retail collide
is likely to become an ever-more important point of sale
for businesses. As well as Instagram's shoppable links
that enable businesses to narrow the gap between intent
and purchase, TikTok is normalizing online shopping
behaviors through social commerce.
The social commerce sector in China is well established
and the habit is spreading through TikTok, which
originated there; 77% of its users say they've bought
something after seeing it mentioned on the app. 5
A TikTok-driven social-commerce campaign has helped
to globalize the reach of Little Moons, a London-based
ice-cream mochi brand. Combining an organic content
campaign on TikTok with a supercharged paid promotion,
Little Moons managed to boost sales 1,300% – all off the
back of social commerce. 6
Social commerce is such a boon because it drives impulse
purchases. Clothing brand American Eagle sold out a range
of leggings after TikTok users posted about their quality,
and Google searches for the item increased
200,000%. ‘We reacted to it, and it's
7
tremendously impacted our business,’
said American Eagle's chief marketing
officer Craig Brommers.
3
Insider Intelligence, Social Commerce 2021.
4
Ibid.
5
business-tiktok.com/smb-holiday-week1.
6
Business Insider, 2021.
7
Ibid.
 Give the people
Remember…
Keep your eyes peeled on the
market, and get comfortable

what they want

using tools like Google Trends
to see what products are red
hot. Google's search box has
become a sort of confessional
chamber, and there are few
better ways to understand
what products and categories
people are thinking about.

It's always a smart idea to be confident in what you sell Despite having only launched in early 2019, Jiggy is forecast
and to avoid chasing trends. But that doesn't mean you to cross $2.25 million in sales in 2021.8

shouldn't pay attention to popular products and capitalize

on them when it makes sense for your business.
Categories that have taken off recently include house
plants and jigsaws, with popular brands like online plant
store Rooted and puzzle company Jiggy managing to
benefit from the pandemic and the changing lifestyles
of consumers as they were forced to stay at home.
It's just one of a number of businesses monitoring, then
capturing, the zeitgeist. The rise of smart analytics,
shorter supply chains and just-in-time dropshipping-style
fulfillment means that you can gamble on a new niche and
see if it pays off without too much upfront investment.
8
business2community.com.
 Reduce your risk using
Key insight…
Small-batch, upfront payment
orders can work at any scale.
the magic of pre-orders
Knife brand Allday plans to sell
just 600 bread knives in its
fourth batch of production
in December 2021. 9
One of the biggest risks that many businesses face
is the gap between the customers saying that they're
interested in a product or service and those who end
up financially backing up that claim.
Pre-orders take the guesswork out of the equation. It means
you take customer orders before your product is available,
or before it's even been manufactured. It's a great way
to lock in cash, validate interest in what you're selling and
build up good press. A guaranteed cash flow means you're
less contingent on seasonal-demand fluctuations and
can instead ensure you're solvent all the time.
Many new businesses have tested out their proposition
through crowdfunding sites like Kickstarter, which has
successfully funded 210,000 projects to date. However,
10
these platforms often mean you cede control to a third party,
and potentially lose that direct connection to customers.
So, some are trying to find a different solution. London-
based knife brand Allday takes pre-orders for all of
its knives, which are made from sustainable materials,
directly through its website. The handmade knives,
which are forged by a Japanese family in Sakai in the
Osaka Prefecture, and whose handles are made from
recycled plastic otherwise destined for landfill, are
released in limited batches every three months.
Requiring people to pay up front means that Allday
can guarantee a specific number of sales, ensuring the
crafting processes can continue. It's also a benefit for the
environment: by making only the number of items needed,
Allday can cut back on waste in the production process.
But it's not just small producers that are turning
to the pre‑order model – retail
clothing giant Farfetch, for
instance, offers pre-orders on
items of clothing from the likes
of luxury fashion brands Oscar de
la Renta and Dolce & Gabbana.
9
alldayknives.co.uk.
10
kickstarter.com/help/stats.
 From manufacturing delays
Key insight…
In the first half of 2021, 299
deals and funding rounds were

to bad weather, supply chain

announced for businesses
focused on the supply chain,
demonstrating just how hot
this market is.

woes are here to stay.

11

It's time to adapt

It's a tough time to be a retailer, with problems ranging
from manufacturing delays and shortages of raw materials
to unpredictable weather impacting the smooth delivery
of supplies to stores. It means retailers have had to
buy inventory earlier and, increasingly, ask customers
to shop earlier. It also means investing a lot more up
front on stock that you can't guarantee will be shifted
in stores, just to ensure shelves and rails aren't empty.
It's a good time for companies offering supply-chain
services, with nearly $37 billion of funding announced
in the past 18 months , but a hard time for frontline
12
retailers. Inventory and its planning are two of the main
things business owners focus on, and for good reason:
shoppers don't enter empty stores.
Pivoting from selling items with long lead times and
complicated shipping routes to smaller, shorter ones is a
sustainable option. New York home goods store INCASA
stopped selling couches and bulky furniture when the time
it took to fulfill those orders became out of hand. Instead,
it pivoted to selling smaller, locally made items.
Building closer connections with suppliers – and looking
locally for high-quality goods, even if it means paying
a premium – makes it easier to weather the storms that
disrupt supply chains. The retailers that will succeed in
the future will likely be those that prioritize resilient supply
chains and resolve issues before they affect their customers.
11
CB Insights, State of Retail Tech Report Q2 ’21.
12
Ibid.
 Rewards and loyalty
Key insight…
More than 90% of businesses
have a customer engagement

programs have never

or loyalty program already ,
13

and there are tons of new

ways to boost customer loyalty
– so, what are you waiting for?

been more powerful

Retail loyalty programs have evolved way beyond paper
stamp cards giving you a free coffee every 10th purchase.
One example is shoe retailer Foot Locker's program,
FLX, which allows particularly big-spending members
to exchange loyalty points for guaranteed spots in line
to bag the latest releases before anyone else. Customers
can also convert points into donations to charity. FLX
has more than 25 million members, who spend 75%
more than non‑members with the retailer. 14
Not every business is as large as Foot Locker, of course.
But being smaller doesn't mean companies can't
offer similar schemes to their most loyal patrons. This
year, small businesses innovating in the loyalty and
rewards space saw a big boost in investment. Funding
to businesses that help broker loyalty programs
And it's not just those who are funding businesses who
have noticed the importance of loyalty programs and
rewards. Those running them have, too. The number
of mentions of ‘loyalty’, ‘reward’ and ‘personalized’
by executives in earnings calls remains high.
As to where the investment is going, there are now services
that can build personalized programs using artificial
intelligence (AI). Loyalty platform Punchh, bought in April
2021 at a valuation of $500 million, is just one of many
businesses professing to boost customer engagement
through AI and the analysis of a huge range of data, from
customers' prior purchases to what kinds of messages
they respond to.
13
Accenture Strategy, 2017.

increased nearly 60% in the second quarter of 2021 to 14

fool.com (Foot Locker, Q2 2021 Earnings Call).

$413 million, while the number of deals rose by 25%. 15 15

CB Insights, State of Retail Tech Report Q2 ’21.
 Physical stores aren't
Remember…
When it comes to in-person
shopping, 67% of people say
going anywhere
they most miss interacting
with products and knowing
what they're getting.16
We all know the story. Retail sales from bricks-and-mortar
stores plummeted during the pandemic, replaced by
a buoyant click-on-demand economy. In January 2021,
35% of all retail sales in the UK occurred online – an
all‑time high. But that's since dropped back to 25%,
17
a figure closer to pre-pandemic levels.
Here's the thing: despite all the doom and gloom
prognosticators, physical stores aren't going anywhere
– they'll just evolve. Clicks and bricks are still a winning
combination; you just need to think about how to make
your store more than real estate.
Big department stores such as Bloomingdale's are opening
radically downsized alternatives to their giant outlets,
which include concierge desks, a cut-down selection of
items and ‘host activations’, making shopping more like
a theatrical experience tailored to each customer. It's
meeting consumer demand: nearly 50% of people say
that for physical shopping, they want a customizable
DIY experience, seeking informative displays that add
more context to their purchases. 18
Other traditional retailers are partnering with online-first
brands to try to bring the best of both worlds together.
Casper, an online mattress firm and a poster child for
the direct-to-consumer revolution, opened its first-ever
physical store concept in a New York branch of Bed, Bath
& Beyond in July 2021. Rather than waiting until the bed's
in your home to see if you like it, you can now test one
out before buying. Of course, setting up a physical shop
costs money: instead, short-term leases in existing stores
or in pop-up spaces can be a way to dip your toe into
the water before taking the plunge.
16
Reflect Systems, In-Store Shopping: Hiccups & Hangups of 2021.
17
ons.gov.uk.
18
retailcustomerexperience.com.
 Shops around
Key insight…
People still want to shop in
physical stores. The demand

the world that are

is there: it's just about
capturing it in the right way.

doing things right

The best shops are – and always have been – those that
not only do things well, but do things differently. The
same old identikit stores simply won't cut it. Consumers
are after unique retail experiences that they can't get
anywhere else in the world.
In London, online matcha brand JENKI is creating a new
retail experience centered around matcha education.
And, in Tokyo, take inspiration from a former Amazon
employee who quit his day job to open Waltz, a store
that sells only analog cassette tapes.

For instance, in Brooklyn, Edouard Massih has turned Specialization in retail is key. In a world where anything
an old Polish deli into a Lebanese food store called can be bought online from the raft of ‘everything stores’,
Edy's Grocer. In Philadelphia, Shannon Maldonado has having fewer but more tailored options is one key way
built YOWIE – a lifestyle store based on fun and joy. to do things right in the new world of retail.
 Investment in retail tech
Key insight…
Retail will continue to thrive –
and tech will help revolutionize

is soaring. Here's where

the experience. The top five
mega-rounds (deals worth
$100 million or more) in the
retail tech space in the second

the money's flowing

quarter of 2021 all went
to online sales companies. 19

Investment is pouring into startups building in-store
technology – from tech that automates shelf tracking
to smart tools for sales associates. In the second quarter
of 2021, retail tech investment hit record highs, with
$31.5 billion flowing into the sector. That's triple the
20
amount recorded 12 months prior. And, on the online sales
side, new businesses are focused on everything from
online-behavior tracking to payments solutions.
Asia and North America are leading the way in investment,
attracting three-quarters of all the cash. Take Tokyo‑based
Abeja, for example, which operates a range of cameras,
the output of which is monitored by AI to measure store
traffic, track demographics and test the effectiveness
of marketing within physical stores.
It recently announced an undisclosed funding round in
April 2021 that will help boost the company even further.
Another big winner is visual-merchandising firm One Door,
which garnered $8 million in investment to help retailers
plan, execute and track merchandising and promotions.
The smart use of retail tech can help boost sales, paying
for its deployment many times over in increased footfall
and interest in your products. Seeing where the market
is investing can help you back a winner.
19
CB Insights, State of Retail Tech Report Q2 ’21.
20
Ibid.
 Blockchain will
Key insight…
Mondelēz's blockchain-
based traceability program

transform retail.
allows consumers to identify
which of its 127 farmers is
the source of the wheat in
their Triscuits crackers.

Don't get left behind

21

Blockchain is transforming tons of industries, and it's looking
likely to do the same to retail, too. There are opportunities
in loyalty programs, tracking and payments. You'd do well
to follow this closely – your competitors sure are.
While many big businesses – everyone from Hong Kong
hotel chain Pavilions Hotels & Resorts to auction house
Sotheby's – are taking bitcoin and other cryptocurrencies
in exchange for their wares or services, the technology
that underpins the crypto world is the real opportunity
for forward-thinking small businesses.
Blockchain, the underlying tech behind many
cryptocurrencies, has skyrocketed in popularity.
Companies across the world are starting to adopt the
blockchain to track the number of units leaving their
stores in the hands of customers – and, therefore, the
amount of new stock they need to order from suppliers.
By spending less time tracking where a certain item
is in the supply and distribution chain, you can spend
much more time focusing on what's most important
to your business: how best to sell to customers. Some
big‑box retailers are already experimenting with blockchain
technology, using it to track consignments of goods as
they're delivered by trucking companies to their stores.
And blockchain can be harnessed for much more than
just behind-the-scenes operations. Companies such
as global food-and-beverage manufacturer Mondelēz
are using blockchain to prove the provenance of their
ingredients, so that discerning customers know the
traceability of every food product that they put in their
pantries. For mission-driven businesses, blockchain can
provide proof of your credentials.
21
finance.yahoo.com (2021).
 What privacy changes
Remember…
There are ways to keep
customers engaged without

in tech platforms might

tracking them. By avoiding
intrusive monitoring,
you can build goodwill;
52% of consumers trust

mean for your marketing

companies that don't
ask for information that's
irrelevant to the product. 22

Online advertising and marketing have been the backbone
of building a business for years. But the likes of Google
and Apple are tweaking their platforms in ways that make
it harder to track customers, which could make it harder
for brands to market using targeted ads. Small businesses
that don't keep up with these changes may be left behind.
Few businesses seem prepared for a more privacy-focused
future. Just one-third of marketers say that their brand or
clients have a plan in place to reach consumers in a post-
cookie environment. However, one way to develop a plan
23
is by first seeing what kind of first-party data you can ask
customers to provide to keep their product marketing
relevant, rather than relying on the breadcrumbs they
leave as they traverse the internet. In fact, first-party data
is better and more relevant than third-party data, because
In the UK, a collection of companies has banded together
in an attempt to retain some of the omniscient vision
over consumers that they once used to have but that
big tech is now taking away. The Ozone Project claims
to make programmatic advertising easy, and offers
brands the ability to reach 99% of the UK's adult online
population ‘with trust and transparency’.
Yet, for those not wanting to sign up to any expensive
services, the privacy changes offer an opportunity to
return to first principles and good old‑fashioned clever
marketing – the likes of which
existed long before smartphones
put the world in our pockets.
22
WARC, The Marketer’s Toolkit 2021.

it comes straight from the source, rather than being 23

McKinsey, The consumer-data opportunity and

co‑opted and parsed through many lenses. the privacy imperative.

 Brand marketplaces
Key insight…
According to a survey, 35%
of consumers shop at niche
are a new way
marketplaces, particularly for
fashion and home products. 24
to find customers
Once upon a time, a small brand might sell from – and
build up a loyal customer base on – its own website.
However that direct-to-consumer formula is changing,
and vertical marketplaces are emerging. These are online
platforms where brands can sell their products alongside
other like-minded brands, such as those that align with
their values or production standards.
The benefits seem obvious: rather than spending time
building up your own online retail offering, and having
to convince skeptical consumers that your storefront can
be trusted among the many fly-by-night offerings that
are out there, you can piggyback on the respectability
of some of the biggest brands in the business.
There are, of course, the very biggest names in retail
to consider: Amazon, eBay, Walmart and Etsy all have
their own online marketplaces that are the 21st-century
equivalent of the general store. But to really capitalize
on customers seeking out specific interests, you should
specialize. The Fascination handpicks products listed
on its marketplace after rigorously testing them, which
means that shoppers can be sure of the quality of goods
that are sold on the platform. The Verticale similarly
collates products from conscientious brands, with
1% of every sale being donated to good causes.
When listing on a brand marketplace, you tie the standing
of your own brand to that of the selling platform, so
you need to pick it carefully. Any scandals or issues the
platform faces could leach off onto your own company's
reputation. You also cede some control over how your
products are presented and, of course, the marketplaces
take their cut. But the benefits can be huge.
24
McKinsey, Moving past friend or foe: how to win with digital marketplaces.
 Take advantage
Key insight…
Resale shopping is still
a younger consumer's game.

of the red-hot
Take Depop, for example,
where 90% of active users
are under the age of 26. 25

resale market

The resale market is huge. Consumers have been reselling
vintage and secondhand products for years now, using
platforms such as Depop, which acts as part social
network, part online marketplace. More than 140,000
new items are listed every day on the shopping platform,
often snapped up in seconds by its 30 million or more
users, spread across more than 150 countries. 26
But new platforms are emerging. One example is Treet,
which helps brands set up their own resale sites. Treet,
which gained $2.8 million in a seed funding round in May
to resell their old purchases on the original brand's own
website, offers a similar service, but off-platform, and
is supported by the likes of fashion label Balenciaga.
Other large, pre-existing companies are pivoting to resale
too, or building their own resale arms. Rent the Runway,
which previously allowed its users to hire high-fashion
items for a short time, is now entering the space. It's seeing
the same signs as the rest of the market: resale shopping
is set to be worth more than $33 billion by the end of 2021,
and is on track to top $64 billion by 2024. 28

2021, takes a 10% cut from any sale for helping to enable
it – provided you choose to take brand credit. If you want
27 25
news.depop.com.
26
Ibid.

cash, Treet gives an additional 10% to the brand whose 27

techcrunch.com.

items you're selling. Reflaunt, which allows shoppers 28

cnbc.com.
 Think outside the box:
Key insight…
You don't have to rely solely
on building your own brand:

one inspiring
sometimes you can piggyback
on the goodwill others
have built up, as shopping
network Italic does.

online sales model

Not every online shop needs to have the same model.
Take shopping platform Italic, which makes products
in the same factories as top brands. Italic's membership
program lets people buy those products at a much cheaper
price than the leading brands. Instead of profiting from
the products, Italic makes money from subscriptions,
turning the shop concept on its head.
Italic has been described as the Costco model of online
retail; it's a membership club that manages to overcome
some of the challenges that come with cut‑price
perceptions. People like bargains, but they don't like
seeming cheap. That's why Italic works: it's able to offer
low-price items, but you don't feel as if you're cutting
corners, because you know that the items are made
in the same place as the brand names.
The link to big
brands also helps Italic with another struggle
new small businesses often face: building customer loyalty.
Of course, you're not selling the same items sold by the
star-studded brands but, by mentioning that your sateen
sheet set comes from the same manufacturer that supplies
the Ritz-Carlton, you're basking in their reflected glory –
and are able to trade, in part, on their brand name.
Italic shares another feature with Costco: it uses the
membership model, in which users pay a fee to gain
access to reduced-price goods. That helps to build loyalty,
too, and demonstrates what the bulk retailer has known
for years: if you're paying a membership for access to
shopping, you're likely to buy more to make sure that
you're getting good value for your money.
 Clever strategies for
Remember…
Invigorating interest in your
products isn't solely dictated
keeping your customers
by the weather or the seasons;
you can control engagement
if you think smart enough.
interested year-round
Some businesses are seasonal, with sales surging up and
down depending on the time of year. But, just because
you sell Christmas trees, it doesn't mean your company
has to stay dormant for 11 months. Think about how you
could get customers engaged in August. Try launching
email campaigns to stay top of mind, without being
pushy. It's a delicate balance, but it's worth it.
Take inspiration from brands that have traditionally relied
on a small period of the year for the majority of their sales,
but that have managed to expand the window in which
people think about their product. Spirit Halloween was
established as a women's clothing brand in 1983, but
it pivoted to selling exclusively Halloween costumes.
Of course, Halloween only lasts one day of the year;
it's a difficult holiday to base your business around.
But Spirit has managed to extend its operating window.
Spirit's 1,400 pop-up stores appear in vacant mall lots
and storefronts across the US and Canada in August,
September and October, but the business' online operation
makes sales year-round. It capitalizes on the fact that
30
some people are huge Halloween fans and spend the
entire year planning for it. And, for those who want to
share their love of all things frightful with loved ones,
Spirit offers gift cards.
That concept is key: even
if you're selling a seasonal
product, you can still build
up interest and lock in future
29
sales year round.
29
vox.com/the-goods.
30
thehustle.co.
 Product returns are
Key insight…
The increase in online
shopping shipments between

complex, but there are

2019 and 2020 was 32.4%,
according to estimates from the
US Department of Commerce.
But, the increase in number

some new solutions

of returns was 70%. 31

Online shopping has its challenges, not least around
sizing. With free shipping, online buyers buy several
items and then send back the ones they don't want.
Around $102 billion of merchandise was returned
in 2020, according to one analysis. 32
Product returns are a massive problem for retailers, eating
into their profit margin and causing a logistics headache
that can be really tricky to solve. If the last mile of deliveries
is a difficult challenge for retailers, the first mile of returns
can be equally as problematic.
Some small businesses are working on solutions. As well
as those companies tackling the initial problem of ensuring
that customers buy the right product in the first place,
with virtual try-on services and smarter sizing information
on websites, there are others trying to tackle the issue
for products that don't so easily fit these solutions.
FloorFound is helping to manage the return and resale
process for online retail companies that offer oversized
products, like sofas – a typically ignored slice of the
market. As well as handling the often-complicated returns
process, which can be entirely outsourced to FloorFound,
the company also provides a resale service, ensuring
that items don't end up on the scrapheap or at the back
of warehouses. Its self-contained supply chain manages
all the behind-the-scenes operational activities that
companies would rather not think about.
Being smarter about returns is a must in a world where
online retail is becoming the de facto way to shop. With
plenty of inefficiencies still to iron out in the process,
it's an area ripe for innovation – and there are lots of
companies trying to ease the pain points.
31
practicalecommerce.com.
32
Ibid.
 Compete against
Key insight…
Consider the unique selling
point of your product and see

the giants with

whether you can lean into
it with how you brand and
design your online store.

experiential sales

Let's face it – it's impossible for a small business to
beat Amazon in online sales. But you don't have to beat
anyone; you just have to make your shop stand out.
Make it special, and make it an experience. The best
online shops are entertaining and fun, with something
that separates them from the pack.
Take a look at the website of sunscreen brand Vacation
to see this done well. Drawing inspiration from the
heyday of suntanning and embracing a Miami Vice-
style glamor, Vacation has leant heavily into the aesthetic
of the eighties, using it to inspire and galvanize the online
store where it sells its product. This is a brand selling
you sunscreen with a knowing, raised eyebrow and
plenty of pop-culture references.
The goal? To evoke a lifestyle and a sense of past glories,
all of which will help to promote the product, while
ensuring that you feel the online store is a destination
to visit. Rather than the same old staid product
descriptions, could you add a little panache to your
website? As well as selling your products, it's vital to
sell an experience to your audience, so that they feel
connected to both the brand and its ideals.
 Millennials and Gen Z get the
Key insight…
Focusing on Gen Z may help
to establish lucrative long-term

media attention, but which

relationships with brands, but
their disposable income – at
$26,565 in the US – is just a
fraction of Gen X's $90,964.

customers have you ignored?

33

Millennials and Gen Z get countless articles written about
them – what they like, their values, what they wear, eat and
drink. But while those two demographics are important,
you might be overlooking incredibly lucrative customer
groups with huge spending power, like older consumers.
targeting older consumers and their needs is Because, an
online marketplace. The company's founders set up their
business for the older demographic after recognizing the
challenges of finding products for older-life care when
trawling through pharmacies and supermarkets.

The theory behind targeting younger shoppers is obvious:
if you can instill habits in them when young, you stand to
potentially benefit from a life-long connection that will see
them buy your items again and again. But it's possible to
catch the eye of those who are slightly older, too – and they
have far more cash to splash on products, thanks to their
higher earning power and a build-up of disposable income,
ready to spend on whatever they want.
It's the reason there are entire marketplaces and
companies targeted at baby boomers and the generations
that surround them. One small business specifically
Because stocks everything from sanitary pads to vitamins,
operating as an online marketplace for high-quality
products, at a fair price, that can be delivered to your
door. Since its founding in 2016, it's become
one of the established names in
the industry. This is an indication
that targeting the older consumer
can provide lucrative returns,
while also being a boon to
those who need it most.
33
statista.com
 Keep your eyes open
Remember…
By 2030, 2 billion people
worldwide will need access
for big market gaps
to at least one assistive
product, according to the
World Health Organization.34
And it's not just older consumers. There are a ton of
gaps in the market with huge opportunities. Look at
the market for assistive technology; these are products
and services that improve a person's functioning and
independence. This can cover anything from hearing
aids to products addressing specific disabilities.
There's SpeakLiz, from Ecuadorian accessible technology
company Talov, which uses AI to transcribe speech into
text, and vice versa. The tool also listens out for things like
ambulance sirens and cries for help to alert its deaf users.
Following SpeakLiz's success, Talov set out to design and
build a follow-up product, Vision, for blind users.
The assistive technology space is a huge, often untapped
market. Vast numbers of us struggle with some form
of disability every day, but we often find that shops and
businesses are inadvertently hostile to people's needs.
Changing that could be a quick way to build up a new,
loyal customer base that appreciates your inclusiveness.
Of course, pivoting your business to a single market
could be a huge leap, and one that you might not want to
make for fear that it could dissuade those who don't have
a disability from shopping with you. But don't miss out
on an opportunity to build your business while making
a difference in the world. Even if you don't choose to sell
these products, at least make sure that your store is an
inclusive place for every kind of customer.
That also goes for your marketing: while one in five
people in Europe live with some form of disability ,
35
the advertising industry features disabled people in
just 0.06% of its campaigns, according to the last
reliable survey. Be the change you want to see.
36
34
who.int.
35
ec.europa.eu.
36
Lloyds Banking Group, Reflecting Modern Britain?
 Fascinating small businesses
Remember…
Every business needs a unique
selling point and, often, it's
to watch this year
either the big-picture idea
behind the formation of the
company, or the small stuff,
like the details of sourcing
raw materials. You just have
be able to explain it well.
Stuck in a business rut? Worried that you've stalled your
momentum and unsure how to get your mojo back? You
just need to ask a simple question: who else can inspire
you to sell – and sell well?
There are plenty of inspirational examples from which
you can watch and learn how best to build and grow your
business. For one example, check out Claire Harper and
her brand Harper the Label, which makes beautiful and
ethical leather accessories with sustainable packaging,
fair manufacturing, clean leather (which is produced
without toxic chemicals) and carbon offsets. Bringing
some transparency to the leather industry – which has
historically been blighted with criticism for its impact
on the environment – was a crucial goal for Claire, and
it's something that she's managed to achieve with her
business. Her accessories are now sought-after, exclusive
pieces that help the planet, but the brand also shines
a light on the impact we all have on the world.
Look up Jade Akintola, who runs leisure brand ITA. ITA is
the Yoruba word for ‘outside’, and Jade reckons the outdoors
should be for everyone. She's created beautiful chairs and
tables with that in mind, making nature accessible to all,
while maintaining stylistic flourishes and quality.
Both of these businesses operate at the cross section of
two key areas: sustainability and artisan crafting. They
make a virtue of their small-batch, handmade qualities,
and prioritize being good to nature, while also running
a successful business. Everything,
from their website design and
the way they encourage loyalty
through newsletters to their
products and the messaging they
provide to convince customers
to buy, are great examples
for small businesses around
the world to follow.
 Conversational commerce
Key insight…
Around 70% of Woodboom's
sales are now made through
can help you sell more
WhatsApp, thanks to Charles'
chat app functionalities.37
– so listen up
The success of your business is all about making a
connection with your customers. That's why greengrocers
and independent retailers spend time getting to know their
customers: those relationships can translate into loyalty.
Doing that online is far harder. Online retail is often
impersonal, and relies on quantity of customers, rather
than quality of connection. But there is a way to try to
resolve that in the world of online shopping.
Conversational commerce means talking directly with your
customers, and even getting them to make a purchase,
through messaging apps. It's about making purchasing
easier by reducing or removing any barriers.
So-called ‘c-commerce’ has been huge in China, where
millions of people buy through apps such as WeChat.
But it's now taking off elsewhere.
Chatbot technology
allows customers to ask
something as simple
as ‘Can you show me
what blue sweaters you have?’, and be presented with all
of the available options. Check out chatbot brands like
Charles and Yalo for some clever solutions. Both are taking
that age-old retail maxim – turning conversations into
conversions – and rewriting it for the new digital era.
Premium wood furniture brand Woodboom is just one
company that's using c-commerce startups like Charles
to meaningfully convert browsers into buyers through chat
app functionalities. Whether you want to use WhatsApp,
Slack, Facebook Messenger or others, such conversational
commerce businesses can slot in without a worry.
37
hello-charles.com.
 And, finally, amazing
Remember…
Successful sellers often share
some key components: they

people building
identify what their customers
want and how they engage
with their shops, and then they
supercharge this to increase

unconventional
the likelihood of success.

retail businesses…
Last but not least, here's some more retail inspiration for
you to dwell on as you try to think about how to take your
business to the next level in 2022 and beyond.
In Bangalore, embroidery artist Anuradha Bhaumick left
her job in 2020 to sell her original, gorgeous designs full-
time. Anuradha decided to harness the power of social
media for her crafty products, knowing that there's a
built-in group of people who share her interests, and who
could part with their cash in exchange for her designs.
Make sure to check out her Instagram to see how she's
grown her community and to see how she uses social
media to help sustain her business.
And then there's The Dust Shuttle, which is based
in Philadelphia, but is always on the move. This mobile
antique store is run by two 20-somethings who drive
all around the US in a van, buying and selling vintage
furniture wherever they rove. The Dust Shuttle is inspired
by the itinerant, always-on-the-move food-truck industry,
with the founding pair harnessing the concept of
FOMO and applying it to a completely different sector.
Antique stores are usually hidden gems, and are able
to invite repeat custom because the stock is always
changing. Compound this with a roving storefront
that could rock up on your street corner if you're
lucky, and you're assured repeat custom.
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