The New Year is often portrayed as an opportunity for a fresh start. As such, rather than focusing on the retail failures of 2013, why not take a look at the successes of some of last year’s more innovative retailers instead?

The New Year is often portrayed as an opportunity for a fresh start. As such, rather than focusing on the retail failures of 2013, why not take a look at the successes of some of last year’s more innovative retailers instead?

On the face of it, all of last year’s retail success stories seem to share several key attributes: a clear understanding of their customers’ wants and needs, high-quality products offered at a competitive price, and a joined-up multichannel strategy that encompasses an appropriate and well-merchandised store portfolio.

The UK fashion retailer SuperGroup scores highly on many of these criteria. As a result, the company is planning to extend its product range this year by launching a new womenswear assortment along with a range of tailored suits, jackets and overcoats for men. To support this goal, SuperGroup worked very hard last year to put robust systems and processes in place that will enable it to engage with its customers more effectively, fulfill the increasing demands on its ecommerce offering and support its multichannel expansion in 2014.

In terms of customer engagement, it’s difficult to think of an example better than Tesco, which launched a wine brand created by consumers last year. Tesco kicked off this innovative crowd-sourced project by inviting wine bloggers and members of Tesco’s social media community to a wine tasting event, where attendees were asked to vote on which of the wines presented should be sold in Tesco stores.

With projects like these, Tesco provides a great example of a traditional retail business that isn’t afraid to innovate. By harnessing the power of social media in this way, the company has been able to capture younger, more socially aware customers who are extremely loyal and feel connected with the brand. In a sector like grocery, where innovation has often been lacking, it has been exciting to see Tesco take bold decisions and redefine customer relationships along the way.

Any retailers looking for tips on integrating the online and real-world shopping experience more closely need look no further than Matches. The high-end fashion chain began with a single store in Wimbledon in 1990 and now has 14 bricks-and-mortar shops in some of London’s most affluent areas.

While these shops are undeniably beautiful in their own right, they also serve as highly successful showrooms for the company’s thriving online business. Alongside its vintage lighting and well-heeled staff, Matches’ shops feature large flat-screen Apple Macs and iPads that are linked to the business’s online store. As a result, customers aren’t limited to browsing just the racks in front of them, but can also choose from more than 250 international brands online.

So will 2014 finally see the total convergence between online sales and bricks-and-mortar? More likely we’ll see a happy middle ground where interactive interfaces, augmented reality and social media combine with the in-store experience and other customer engagement strategies to drive brand loyalty and encourage purchasing across multiple channels. Let’s see what 2014 has in store.

  • Dan Coen, director, Zolfo Cooper