Sustainability, increased 'leisure' and local convenience are set to be the main trends influencing the Latvian retail industry in 2019, according to a study by Maxima Latvija.
The retailer said that the current trend for retailers reducing their environmental footprint is likely to gain pace this year, with 'the leading retail chains [...] more actively investing in the implementation of environmentally-friendly initiatives'.
This is also as a result of the European Parliament recently ruling in favour of measures to promote a greener society, limiting the production of both plastic bags and single-use plastic products.
Shopping Experience
Another trend likely to gain in importance is the need for a more leisurely shopping experience both in-store and online, backed by technologies such as AI and blockchain.
'Technology, including artificial intelligence and blockchain, continues to provide solutions to improve productivity, the workplace environment, and the overall shopping experience,' the retailer said.
'Additional resources, freed up as a result of efficiency gains, are invested in lowering prices, and also in creating a new type of in-store and online shopping environment to satisfy the modern consumer who increasing views shopping as leisure, not everyday necessity.'
A third trend is the need for retailers to 'aim local', reflecting consumer demand for products with local provenance, as well as retail environments that suit the needs of the local community.
'Maxima Latvija will continue to be actively involved in local life, supporting initiatives important to local residents and encouraging the growth of small businesses,' the retailer said.
2018 Trends
In terms of the biggest trends of last year, Maxima Latvija said that the demand for low prices continued to be a major driving force for consumers, helped by a lower 5% VAT rate on fresh fruit, berries and vegetables, which was introduced last year.
New formats, such as the growth in convenience and neighbourhood stores, was also cited as a notable factor last year, as was increased demand for healthier products such as vegetarian and vegan products.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.
