Opinion: Shoppers Want The Story Behind The Product

It’s the question on the minds of many retailers right now – what will the bestselling gifts be this Christmas? It’s far beyond me to make that bet. However, with the prospect of inflation returning and mass discounting already apparent, I do know that success will require many retailers to define value for customers in a new way. A customer recently told me that the “perfect gift is a thoughtful gift” and this is a trend we’re seeing year-round. In an online world where customers can shop from a global catalog of products, competitive pricing and choice are no longer the only components in the value equation: customers are looking for more meaningful presents for friends and loved ones. An example of this is the giving of experiences. The experience economy isn’t a new concept but it’s a category we anticipate performing especially well this Christmas, with experiences such as gin-making and canal boat stays among our expected bestsellers. Read more at Retail Week.