This guide is a PSFK future of retail report for brand and retail executives trying to course a visionary, future-forward journey for their business.
Celebrating over ten years of impact in 2022, PSFK’s flagship annual report, The Future of Retail, takes a provocative approach in this edition and provides a multifaceted vision of the trends and themes informing what the retail industry might look like in the year 2042.
PSFK’s research lab has found that today’s rapidly evolving contemporary landscape can provide holistic insights and weak signals that will shape and define the future experience of shoppers, retailers, and brands decades from now. It is critical for all stakeholders, from brand owners and ecommerce companies to technology providers, to be aware of, and properly activate against, the emerging forces shaping tomorrow’s shopping habits and behaviors.
In this report, the PSFK iQ research team examines the future truths driving the evolution of retail, exploring the nascent implications, scenarios, trends, and technologies that we see becoming pervasive over the next twenty years. PSFK has identified 16 key trends across three 2042 Commerce Scenarios that paint a provocative picture of our collective retail futures.
To help our members envision a distant future that is already being shaped by the building blocks of today, PSFK has identified 16 key trends driving the evolution of retail, exploring the nascent implications, scenarios, trends, and technologies that we see becoming pervasive over the next twenty years. PSFK has identified 16 key trends across 3 2042 Commerce Scenarios that paint a provocative picture of our collective retail futures.
This 51-page PSFK Future of Retail report includes:
This PSFK Future of Retail report was developed by the same PSFK research department that since 2004 has provided trends-led innovation consulting advice to Apple, BMW, Facebook/Meta, Google, Microsoft, Samsung and Volkswagen.
As how people buy further blurs the lines between on and offline, what people buy and how they express themselves is also changing, creating a new market for hybrid products that have value in both worlds. The introduction of blockchain and NFTs is allowing digital- only purchases like fashion, beauty and accessories to be verified and exchanged, and in some cases, paired with a twin in real life and vice versa. This means that ownership...Ultra Convenience
In an omnichannel shopping landscape, finding ways to get closer to consumers is a competitive advantage. Physical stores are evolving beyond solely serving as places for people to shop, instead becoming hubs for hyper- fulfillment, mobile showrooms are providing a flexible pop- up model, autonomous delivery is meeting the increased needs of ecommerce, and service providers are embracing multi-store fulfillment models. By shrinking the physical distance to shoppers’ homes, shorter delivery times, flexible fulfillment options...Cloud Catalog
As consumers consider purchases throughout their daily lives, many struggle to keep tabs on the items they already own and the services they subscribe to, often resulting in underutilized products and even missed features. To help consumers realize the greatest return value on the products and services they’ve invested in, intelligent assistants and platforms are generating digital catalogs for users to easily search their personal database for everything from clothes, to tools and appliances and...Direct-to-Avatar
As consumers’ lives transition into the digital realm, and advances are made in gaming and social technologies, brands and retailers are designing customizable identities and products to service consumers in their digital lifestyles.
The effort, supported by His Royal Highness Prince Charles, will drive transparency and circularity across the fashion industry.Brookfield Properties Creates Geofenced AR Network
New initiative will leverage millions of square feet of untapped ad inventory space within shopping centers across the country.Sneaker Bots Let Shoppers Procure Coveted Drops
The digital cat-and-mouse game between retailers and resellers is intensifying as the holiday shopping season approaches.