107. Mall Rats, Magic Mirrors and the Great Retail Revival

Hello and welcome to the fortnightly Create Tomorrow podcast, bringing you the latest innovations impacting the future of design and product. IRL retail is very much back with a bang. Discussing the green shoots of physical retail 2024 is Joe McDonnell, Director of Insight, together with our Insight retail experts Laura Saunter, Senior Strategist, and Candice Medeiros, Strategist. Tune in to learn more about the return of the mall rat, why retail stores outperform store closures for the first time in over a decade, and how consumers are demonstrating contradictory spending behaviours – trading down on essentials to treat themselves to big-ticket experiences. Stores aren’t just about buying but socialising and community building, with retailers offering value adds, such as yoga classes, workshops, personalised experiences, and more, creating opportunities for fostering connections. The team discusses the impact of AI in retail and how it might be best used in the future. They also explore the rising popularity and increasing criticism of the ‘buy now, pay later’ model. Plus, discover the exciting innovations likely to drive change in tomorrow’s retail environment.