6 Trends That Will Rock and Shock in 2005

Furniture World Magazine

From WSL from The Edge December 2004 Published by WSL STRATEGIC RETAIL www.wslstrategicretail.com Wendy Liebmann and Candace Corlett, principals Experts in "How America Shops" 1. A Post Wal-Mart World: It's two weeks before Christmas 2004 and the earth just moved. Did you feel it? The shift that will define the new retailing millennium finally happened. It occurred at 6 AM on Friday, November 26, when stores opened at malls and on Main Streets across the US. What was evident at thatmoment was that we had moved from a Wal-Mart world into a post- Wal-Mart world. 2. Easy Does It: While American shoppers still say they want to "get a lot done under one roof," they increasingly want an easier shopping experience. Easier to get in and out, easier to find what they want, an edited mix. And that's the rub for big box stores like 200,000 square-foot supercenters. 3. Wrap Me Up, Scotty: Consider this: in How America Shops® Everyday, 45% of shoppers said they will spend "a few dollars more on household products and groceries in a pleasant environment." This is not only affluent. 4. A Household of Me: The "Me Generation" takes on an entirely different meaning in this new retail world. According to the US Census Bureau, 26% of US households are now single person households (which includes younger people who are getting married later, divorced people, older people living longer and, of course, those of any age who live by themselves). This is now the second largest household segment, almost surpassing households of 4+ members. 5. Boomers Win at Last: For those tired of hearings talk about the missed 50-plus opportunity, just wait for it, there's more to come. In 2005, you won't be able to avoid it as 69 million people will be between 50 and 74. That's a third of the adult population. No surprise then that national chains such as the ubiquitous GAP have finally noted this, and are about to join the fray. 6. Pets, Kids and Men Rule: Beyond boomers, opportunities just keep expanding in 2005. Consider three more: pets, kids and men. Pets hae fast become the extension to many families. In our 2004 How America Shops® Macro Trends, pet supplies was the fastest growing of 12 Leading Indicator Categories we study. And by a long way.