The writing is on the digital display wall: the physical store of the future must be infused with technology if it’s going to survive. Smart retailers are rethinking their brick-and-mortar models and piloting new tech solutions today in order to develop the flourishing store of tomorrow. While the path to the future may come down to a lot of trial and error, many areas of the retail experience are clearly in need of focus.
It’s also important to keep in mind that the store of the future will need to cater to Gen Z shoppers, in addition to millennial shoppers. The good news is, Gen Zers prefer store shopping: NRF found three times as many shoppers between the ages of 13 and 21 shop most of the time in a store compared to the number who said they shop most of the time online.
So what do they want? Gen Zers place great importance on dependable and consistent delivery of retail essentials and appreciate innovation only if it can remove friction and empower them to engage with a brand on their terms.
So how do retailers even begin to trial new technology that meets the demands of the tech-savvy, sophisticated shoppers of tomorrow? Which services and capabilities make it worth the trip through brick and mortar doors? What more can the store be doing to help operations? What can artificial intelligence realistically do for retailers…and what are those robots roaming the aisles doing?
To answer all this and more, below we take a deep dive into the cutting-edge capabilities that leading retailers are deploying in their stores today, as well as the the game-changing technology that is being piloted now and poised to quickly become mainstream tomorrow.
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A Digital and
Emotional Destination
The Store of the Future:
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Source: RIS, “29th Annual Retail Technology Study, Retail Accelerates”
Top 3 In-Store Technologies for Investment In 2021
41%
In-store shopper tracking capability
Real-time store monitoring/KPIs
Clienteling/guided selling
33%
33%
By Jamie Grill-Goodman
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The writing is on the digital display wall: the physical store of the future must be infused with technology if it’s going to survive. Smart retailers are rethinking their brick-and-mortar models and piloting new tech solutions today in order to develop the flourishing store of tomorrow. While the path to the future may come down to a lot of trial and error, many areas of the retail experience are clearly in need of focus.