5 Trends Transforming Retail

in Retail
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Click here to read   Acting on these trends can help ensure that lottery products remain important to retailers and relevant to players “The incredible changes happening today in retail open up opportunities for lotteries in areas that customers tell us they want to pursue: new sales and distribution channels, alternative payment options, and personalized experiences,” says Tom Stanek, Senior Director, Global Retail Sales and Marketing, IGT.

“This transformation isn’t minor. I call it ‘the great disruption’ – and the upside for the lottery industry is potentially great as well.” In a talk at the recent PGRI SMARTTech conference, Stanek discussed how the following retail trends are reshaping reality for brick-and-mortar retailers as they compete for control of consumers’ market baskets – and as consumer packaged goods companies compete to get their products into those baskets.

Stanek explains that consumers today base their purchasing decisions on three factors: experience, convenience, and value. “What’s new and important is that experience now takes precedence over the more familiar drivers of convenience and value. Consumers are learning to expect a more personalized relationship with retailers, and that personalization will be data-driven.”

Stanek concludes that there’s a significant opportunity for the lottery industry to ride the wave of these trends and make use of technology and new retail formats to streamline activities and keep pace with player preferences. Together, the following trends point the way to fulfilling consumer expectations and driving lottery growth at retail:   Click here to read