Why retail could be missing out on $4 billion
Recent research shows that there is a $4 billion potential increase to revenue from better designed products and services.
According to the report by the Centre for Inclusive Design in partnership with Adobe and Microsoft has revealed that products and services designed with the needs of people experiencing poverty, disability or the effects of ageing in mind can reach four times the number of intended consumers and impact the bottom-line of organisations.
There are five million Australians with an annual disposable income of $40 billion, but are unable to access products and services because of poor design.
“Design that considers the full range of human diversity with respect to ability, language, culture, gender, age and other forms of human difference means more people are included,” says Dr Manisha Amin, CEO of Centre for Inclusive Design.
“We commissioned the research to identify and determine the necessary means by which Australia can act to reduce these gaps. Inclusively designed products and services that have edge users in mind, can reach and benefit up to four times the size of the intended audience and enable organisations to increase their revenue by growing the size of their target markets.
“Designers, companies and government all have a role to play by designing, investing and legislating with difference in mind, so that a design process that is inclusive becomes standard practice.”
Within the retail products sector, up to 20 per cent of Australians are unable to access and use goods appropriately. More inclusively designed retail products would promote accessibility and improve the user experience for all Australians, according to the report.
For example, the ‘household goods’ and ‘clothing, footwear and personal accessory’ categories, which comprise products used by most of the population, would be greatly impacted through inclusive design. Applying this approach across multiple retail products would equate to considerable financial benefits in an untapped market for many retail businesses, says the report.
Last year, Coles introduced an autism spectrum-friendly low-sensory ‘Quiet Hour’ experience in 173 of its stores. The initiative has not only helped shoppers with autism, but also shoppers who want peace and quiet while they shop.