Prepare yourself for the future of retail

A future vision for retail

Since the emergence of e-commerce in the 1990s, some observers had predicted the demise of in-person shopping. They were mistaken. What has emerged is much more complex than a simple, binary online/offline shopping dichotomy. Consumers today enjoy a growing number of ways to shop that cater to their individual needs at any given moment. From delivery to click-and-collect to personalized in-store shopping, the retail ecosystem has exploited new technology to give consumers exactly what they want.

Key highlights

• Embrace technology: Innovations will create new opportunities. Artificial intelligence could take on shopping tasks, with unmanned drones and vehicles delivering orders as needed. AI may use consumer data to tailor the design, layout and merchandising of each store to the needs of its specific trade area.
  
  
• Keep it human: The more virtual and automated shopping becomes, a greater premium may be placed on human experience: shoppers could be willing to pay more for it.
  
  
• Understand mixed-use environments: New integrated mixed-use developments could change how we live and shop. Future retail spaces could more likely be a part of communities that blend residential, commercial, and recreational uses.
  
  
• Cultivate spaces where planet and people thrive: Future retail spaces will have to prioritize sustainability and resilience, incorporating features like renewable energy systems. Retail environments will need to be designed to serve diverse populations equally.