Retail in 2023 – An attempt to be everything, everywhere, all at once?

by Lauren Somers – Chartered UK Trade Mark And Designs Attorney – HGF Limited

 In the current climate, retailers seem to have an impossible task at hand. The squeeze on the average consumer’s spending power means that they are looking for value, but at the same time expect the same quality of product or service (if not improved) and hold retailers to a higher standard in terms of social and environmental responsibility.

There continue to however be winners against the harsh headwinds being faced by all. Discount stores such as B&M, HOME BARGAINS and PRIMARK all saw boosted sales in the last part of 2022. Supermarkets also seem to be holding strong. At the opposite end of the spectrum, luxury fashion is reportedly continuing to grow. As are brands that have tapped in to social media retail, for example GYMSHARK and H&M, and have positioned themselves firmly within their consumers feed and Apple wallets.

So what are these brands doing right and what can be learned from their success? And how can retailers avoid falling in to the “losers” or less fortunate camp within the retail space? These questions will be considered during the pro-manchester Annual Retail Lunch, as well as a discussion around what retailers expect the next 12 months to look like based on their own predictions and plans. Although, as we’ve seen from the past three years, the best laid plans…

That said, a few of factors seem key to the continuing evolution of retail.

• Innovation, tech and AI – Whether this is automizing technology to streamline order fulfilment or AI integrated in to e-commerce platforms, there is increasing appetite for progressive tech from both retailers and their customers. As an intellectual property attorney helping retailers protect and enforce their innovations, product designs and brands in the retail sector, staying up to date with these emerging technologies is sure to keep me on my toes!
• Social commerce – The number of retailers selling product directly through social media networks seems only set to grow. Whilst this is great for both retailers who can prompt thoughts of a purchase whilst the user idly scrolls, and the consumer who can shop whilst engaging in their socials, these platforms can raise new customer safety, counterfeit and brand control issues. Having a channel via which customers can report any issues, as well as utilising IP rights to carry out “take downs” and having firm agreements in place with any third parties provided with consent to use a brand are crucial.
• CRS efforts – As mentioned, consumers are increasingly engaging with retail brands that demonstrate concerted CRS efforts in terms of their environmental impact, charitable activities, DEI policies and socio-economic responsibilities. This is great but retailers must remember to be careful in their messaging. Keeping communications accurate builds trust – better to say “we’re trying” than to say “we have done X” but haven’t quite – and avoids any issues with the Advertising Standards Authority (ASA) for misleading “green” claims.

The pro-manchester Annual Retail Lunch will take place on Thursday 27^th April 2023. I look forward to chairing the panels of exciting speakers and as we work through all of these topics and more.

HGF is one of Europe’s largest firms of intellectual property specialists with 23 offices in the United Kingdom and Europe. The firm’s patent attorneys, trade mark attorneys, design attorneys, IP solicitors and attorneys-at-law provide dynamic and complete IP solutions for clients.