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Retail predictions for 2023 with Mary Portas
16 December 2022
With 2023 just around the corner, we’re looking ahead to the top trends that will shape the year ahead in our Future of Independent Retail report, created in partnership with Mary Portas.
With a love for local still at the forefront of consumers’ minds, the opportunity for independent retailers remains high despite the ongoing economic downturn. With survey results from British independent retailers and consumers, we’ll be looking at insights into product trends and the new technologies that will change the retail industry for good. Plus, British retail expert and broadcaster, Mary Portas, and Ankorstore’s UK General Manager, Tarun Gidoomal, will be sharing their key takeaways from our findings.
Lea Pillot
Top 3 trends for 2023
1. The rise of the ‘15-minute city’
68% of independent retailers believe the 15-minute city, an area where daily necessities and shops can be reached by either cycling or walking from a resident’s home in just 15 minutes, is the future of retail.
2. Emerging tech to offer new retail experiences
With 41% of consumers looking for a more personalised shopping experience in 2023, the adoption of new technologies is key to retail success. 80% of independent retailers will be exploring social commerce opportunities, followed by 47% trying augmented and virtual reality tools.
3. Love for local remains strong
A huge 92% of British consumers believe it’s important to support local businesses, and Mary Portas adds, “We know there is hope for our local high streets post-Covid. Shoppers want to support them and almost half of retailers are positive about 2023. But – and it’s a big but – the government has to support them.”
