Products for pets, dolls and religious merchandise are being tipped to be among the hottest products in specialty retailing markets in 2005.
Some of the predictions, made at the 2005 International Council of Shopping Centres (ICSC) specialty retailing leasing conference, are likely to materialise in South Africa, says Michelle Clarke, head of Old Mutual Properties’ common area management services.
“We’re already seeing another hot trend, personal care products known as cosmecuticals, gaining ground locally,” says Clarke who attended the conference in Charlotte, North Carolina.
Clarke says specialty retail, via carts, kiosks and vending machines in shopping centres, is a $10 bn a year industry in the United States and proven as an ideal distribution platform for introducing hot trends. “A short term agreement for renting a cart allows entrepreneurs a low-cost opportunity to introduce hot trends to the market before they appear in in-line stores”
She says the hot products identified at the ICSC conference were:
Tube food: Tubing is widely accepted in Europe, where 50% of all tube products are food. These include yoghurt, peanut butter and tomato sauce.
Olive oil: Although apparently limited to non-conclusive scientific evidence, olive oil producers can claim their product can help reduce the risk of coronary disease.
Cheese: Cheese is suddenly the new wonder food, and is being tipped to lead a huge surge in sales of dairy products.
Wine: Per capita consumption of wine is growing... and boosting a need for accessories. Look for a demand for wine glasses, wine racks, coasters. The only wine-related product not expected to do wonders in markets such as the USA is the corkscrew. Customers are showing preferences for twist-off caps….even with fine wines.
Pet products: The products-for-pets markets is large and often ignored by traditional retailers. In some countries, dogs or cats are found in at least one in three households. Pets are pampered. They get presents, have wardrobes. From high-end to high-tech items, products for companion animals now extend beyond traditional necessities.
Dolls: Dolls are slowly making a serious comeback. Pretty, dressy dolls are moving up slowly, but dolls of newborn infants are making leaps.
Collectables: Not the market it used to be, but angels are gaining importance again. However, hats will top the category.
Real religion: Religion-specific merchandise is getting to be a serious factor.
Cosmecuticals: Customers are turning to personal care products that have to be cosmetics with pharmaceutical properties. Hence the name “cosmecuticals”. Growth in this category is driven by consumers who are determined to defy the signs of aging. Increasingly, they are opening their wallets to purchase a regime of anti-aging products ranging from standard wrinkle creams to home microderm abrasion kits and pitera-rich facial treatment.
Publisher: Old Mutual Properties
Source: Old Mutual Properties
