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This PSFK Future of Retail report provides an expert analysis of the essential shopper marketing & promotion strategies to drive retail sales in 2023 and beyond.
Competing for attention and relevance within today’s retail landscape, retailers and brands across PSFK’s network and beyond are finding a consumer that expects instant access to information, hyper-rapid newness, and above all an enduring need for moments that are “personalized to me.” Focusing on the near future, PSFK’s Future of Retail report has been designed to support teams in the retail industry as they design their CX and marketing roadmaps to better meet their shoppers’ expectations over the next 12-18 months.
Across four stages that include 20+ strategies, PSFK’s research team has outlined an actionable framework for the retail industry to better engage their customer base at every point leading up to the purchase moment, whether that’s online, in retail stores, or any combination of the two.
The Future of Retail 2023 report from PSFK provides actionable strategies for retailers and brands to drive sales and engage customers in the next 12-18 months. This comprehensive report covers topics such as data gathering and privacy, personalization, marketing mediums, the impact of technology on the customer journey, and retail business ideas.
Some of the key takeaways from the report include:
This report is a must-read for any retail professional looking to stay ahead of the curve and deliver exceptional customer experiences.
In this video, PSFK founder Piers Fawkes presents a framework that helps retail, marketing and CX executives understand where they should place their bets in the next 12-18 months and throughout the rest of the report we will show how to activate those bets.
Among the influx of NFT use cases, the ability to grant exclusive access or privileges through ownership is reshaping traditional membership programs. By attaching tiers of offerings to specific NFTs or tokens, businesses are creating new models where initial buy-in translates to ongoing value, experiences, and services.Connected Packaging
To reach consumers once they’ve entered the store, CPG businesses and their retailer partners are leveraging connected packaging as a way to engage shoppers in-aisle. Using QR technology, shoppers are able to be met with instant access to everything from product reps, purchase options, and accessible product information.Intelligent Interface
By layering consumer-facing video, voice, audio and chat-based features into the physical shopping experience via digital screens and mobile-activated QR code, retailers are providing consumers with not only on-demand support as they shop, but also increasingly personalized recommendations based on continuous interactions across both local locations and across digital channels.Personalized Displays
Retailers are optimizing their physical locations and displays to support digital discovery and seamless transaction, and to act as feedback centers. Creating an interactive browsing experience, unique QR codes, and the AR lens or instant checkout solutions they support, are now an expected interaction for consumers as they explore the physical store. Along with providing consumers with greater access to product information, entertainment and content, these digital moments present an opportunity for retailers to better...Self-Serve as Personalization
Vending machines and automated point of sale services are using computer vision technology to understand their shoppers better and respond with a personalized service. Sometimes the service tailors product selection such as beauty products based on skin type and at other times it can be used to restrict purchase – e.g. not serving minors alcohol. Outfitted with facial recognition AI, QR codes and mobile-activated services, these connected stores, kiosks and self-serve stations are powering hyper-personalized...Store As Media
Brick and Mortar stores are becoming media centers. With the store-as-media model, retailers are curating special in-store experiences, and gaining deeper information about how assortments, displays, end caps and product packaging influence consumers’ purchase decisions.Playable IP
In place of static, brand-led experiences, companies are developing dynamic metaverse environments that put visitors in control. Within these worlds, consumers can take on the role of architect, owner, manager and more utilizing brand products, assets and IP. These activations bring fandom to life in exciting ways, empowering audiences to bring their competitive and creative spirit into running their own store, sports franchise and more. For brands and retailers, these experiences present opportunities to gain...