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Welcome to What to Expect: Retail 2023, a presentation designed to provide industry executives with insights and predictions on the future of retail. In this report, we delve into the key trends shaping the retail landscape and explore the ways in which businesses can adapt and thrive in the years ahead.
The retail industry is constantly evolving, and the next few years are set to bring major shifts and changes. In “What to Expect: Retail 2023”, we examine the trends that are driving these changes, including the return of the physical store, smarter marketing strategies, the role of retailers in creating communities, and the importance of connected service. By understanding these trends and how they will impact your business, you can make informed decisions and stay ahead of the curve in the constantly-evolving world of retail.
In this report, you will learn about the major trends shaping the retail industry in the coming years. Specifically, we will explore:
This marketplace strategy research paper has been developed by the same researchers and analysts who help companies that include Nike, Google & Samsung with their sector-leading market research platform and bespoke trends research and innovation consulting.
With Local Curation strategy, visiting the stores could easily be a part of the city’s sightseeing and help shoppers understand and engage with very local nuances. Retailers are reflecting their neighborhoods’ vibes and residents’ lifestyles via thought-through store design, targeted services and careful product curation. Embracing the strategy, brands appear as an integral part of the local community that supports the residents in their very own specific needs. Merging the trend with purpose-driven initiatives focused...Retail As Media
Grocery stores and supermarkets are using retail media to provide opportunities for new revenues. The retail media concept allows the store to use its existing point of sale systems, such as cash registers, self-checkout kiosks and even in-aisle displays, to provide additional information about products in the store. This includes advertisements, recipe suggestions, nutritional information, and any other content that might be relevant to consumers. Retailers can also earn revenue from their social media presence...Connected Journeys
Accustomed to the customization of immersive worlds and the unlimited information and product options available across digital storefronts, consumers now expect the same level of responsiveness from retail stores. To meet these expectations, retailers are connecting consumers’ profiles, allowing them to seamlessly save and share their preferences and details as they navigate from online to the store to an app, allowing for personalization regardless of the channel or location. By connecting digital portals to physical...Immersive Playground
Retailers are championing the experience economy by adding play zones to their physical store locations. The imaginative experiences span demographics and age groups, and aim to increase loyalty and shopper ROI by adding an element of engaging fun to the shopping journey. Providing memories families and even adults can’t wait to return to is one way brick-and-mortar can build an experiential moat and competitively differentiate against online commerce.Representative Advisory
To authentically, honestly and impactfully connect with their consumers and communities, retailers are actively ensuring that a diverse range of voices are being heard, from the top down, and at every stage of product, marketing and community development. By creating advisory councils, boards and positions within their own organizations or partnering with those outside of it, retailers are not only signaling to their consumers that their experience is valued, but also taking measured steps to...