Hardware Retailing The Industry's Source for Insights and Information
The National Retail Federation (NRF) recently released a list of 25 predictions for the retail industry in 2025. As independent hardware and paint retailers, here are the most significant predictions to prepare for this year.
- NRF predicts generative AI will create hyper-personalized shopping experiences for customers, recommending and choosing what customers need before they know themselves. AI allows retailers to anticipate customer’s shopping moves before they start shopping.
- While online shopping has been and will continue to be popular, live shopping is predicted to see a rise. NRF claims customers are seeking in-person experiences and entertainment, and want to receive personalized shopping experiences. The in-person shopping experience still holds value, allowing retailers to connect with customers face-to-face.
- Along the same lines, NRF also encourages retailers to more heavily invest in in-store services and experiences. These services are revenue drivers and a reason for customers to visit your store in person.
- To reach all audiences, retailers should cater marketing techniques to the preferences and values of different generations, NRF says. For example, Gen X prefers convenience and efficiency and Baby Boomers value trust and clarity in product offerings. Millennials value personalization and experiences while Gen Z customers appreciate a brand’s authenticity and social responsibility standards.
- NRF also predicts a surge in cashless payments in 2025. According to IntelliPay, mobile and contactless payments are predicted to increase by 12.4% each year from 2025 to 2034. One-click checkout and payment options will also increase.
