FUTURE OF
RETAIL
WHAT IS THE FUTURE OF RETAIL?
In 2019, the trend toward hybrid retail continues, with traditional brick-and-mortar establishments expanding their online capabilities, while e-retailers are opening physical store locations. Retailers are emphasizing the in-store environment in a powerful way by orchestrating an immersive shopping experience or what is known as retail theater. At the same time, new and often disruptive technologies are penetrating the online and traditional retail experience.
WHY SHOULD MARKETERS CARE?
Many traditional retail organizations feel that their survival is currently at stake. They are under tremendous pressure to fuse the digital and physical retail worlds. Therefore, understanding what and where the frontier is for retail is imperative. The future involves having the right culture, using innovative approaches and technologies, and having a willingness and the skills to use data to learn from customers.
HOW CAN IT HELP YOUR BUSINESS?
Understanding the pioneering work that is occurring in the retail space will equip retail marketers to position their organizations as disrupters. Many retailers feel that the brick-and-mortar model has become a liability. At the same time, online retailers feel compelled to provide the experience that only a physical presence can provide. The future of retail is neither of these. Instead, it is an intersection of models, each with its advantages, exploiting technology to provide personalized experiences, that will allow retail organizations not just to survive, but to thrive.
TRENDS
Today’s guest is Erich Joachimsthaler, VIVALDI CEO and author of The Interaction Field (among others). Since his time at university, Erich has spent his career chasing the intangible value of a brand, far beyond sentimentality and logo recognition. In his latest book, Erich lays out the true intangible value brands can leverage — new digital business models that go beyond delivering great products and services. He shared why brands must enter into a new “Customer Contract” with consumers, one in which they work to solve problems faced by society, not the market.
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As the well-worn proverb says, “necessity is the mother of invention,” the pandemic hit retail spaces particularly hard, pushing consumers to use ecommerce more as social and safety protocols increased. While there may be more stores open now, shoppers have found that the convenience and speed when ordering items online is invaluable even long after the protocols have gone.
To take advantage of this, retailers have turned parts or all of their spaces into “dark stores,” which act much the same way a warehouse or fulfillment center would. The opportunity then arises for retailers to not only leverage a wealth of direct consumer data from these types of transactions, but also provide greater personalization and localization services. This itself sets off a bevy of offers and angles from which to engage their customers.
WHAT IS THE FUTURE OF RETAIL?
In 2019, the trend toward hybrid retail continues, with traditional brick-and-mortar establishments expanding their online capabilities, while e-retailers are opening physical store locations. Retailers are emphasizing the in-store environment in a powerful way by orchestrating an immersive shopping experience or what is known as retail theater. At the same time, new and often disruptive technologies are penetrating the online and traditional retail experience.
WHY SHOULD MARKETERS CARE?
Many traditional retail organizations feel that their survival is currently at stake. They are under tremendous pressure to fuse the digital and physical retail worlds. Therefore, understanding what and where the frontier is for retail is imperative. The future involves having the right culture, using innovative approaches and technologies, and having a willingness and the skills to use data to learn from customers.
HOW CAN IT HELP YOUR BUSINESS?
Understanding the pioneering work that is occurring in the retail space will equip retail marketers to position their organizations as disrupters. Many retailers feel that the brick-and-mortar model has become a liability. At the same time, online retailers feel compelled to provide the experience that only a physical presence can provide. The future of retail is neither of these. Instead, it is an intersection of models, each with its advantages, exploiting technology to provide personalized experiences, that will allow retail organizations not just to survive, but to thrive.
"Few roboticists could have fathomed a few years ago that it would be a retailer who stands the best chance of defining how robots should look, behave and interact with humans, and coordinate with each other. It’s a transformational opportunity for the entire robotics industry, affecting not only retail, but also every industry that needs a fleet of indoor robots to coexist with humans."
Sarjoun Skaff
CTO
Bossa Nova Robotics
Key Stats
ANA Marketing Futures and eMarketer have come together to deliver key stats and forecasts on the trends that will shape the industry for years to come.
Related Content
Want to take a deeper dive into the future of retail? ANA Members have access to brand stories, case studies, and expert webinars you won't find anywhere else.
Driving Consumers Down the E-commerce Purchase Funnel: How to Gauge True ROI
ANA. February 2020.
The shift from brick-and-mortar to e-commerce provides marketers with unprecedented access to consumer data, which if leveraged properly can generate sales growth. Companies can use digital marketplaces or develop their own apps to create experiences that drive purchase intent. Using aggregated data, marketers can create more customized advertisements and promotions that drive conversions.
Creating Retail Traffic Through Intelligent GPS Data Customer Mapping
ANA. November 2019
Aldi, a Danish supermarket, used geo-location targeting to strategically identify where its shoppers lived. It then used that data to determine if its printed retail flyer campaign was reaching the right consumers. By utilizing geo-location technologies, Aldi was able to achieve greater targeting efficiency and generate savings.
What the Future of Retail Marketing Has in Store
ANA. December 2019
How will shopping change in the future? Much like how it always has, but smarter, easier, and more seamless — all stemming from the ease of automation and AI. Despite the increasing clout of social media and digital marketing, physical retail stores aren't a thing of the past but a vital window into how marketing will be practiced in the future.
Download Now!
For the first time in decades, major retailers are being forced to reassess their business model, and create unique, engaging experiences to bring customers back to brick and mortar. Brands must invest in in-store experiences and customer relationships to thrive in this new market.
ANA Marketing Futures spoke to marketers across the industry to weigh in on what the future holds for retailers and CPG brands alike, and created a guide to help brands master the omnichannel customer journey, and elevate the in-store customer experience.
Download the full report today!
Sarjoun Skaff
CTO
Bossa Nova Robotics
"Few roboticists could have fathomed a few years ago that it would be a retailer who stands the best chance of defining how robots should look, behave and interact with humans, and coordinate with each other. It’s a transformational opportunity for the entire robotics industry, affecting not only retail, but also every industry that needs a fleet of indoor robots to coexist with humans."
Key Stats
ANA Marketing Futures and eMarketer have come together to deliver key stats and forecasts on the trends that will shape the industry for years to come.
Related Content
Want to take a deeper dive into the future of retail? ANA Members have access to brand stories, case studies, and expert webinars you won't find anywhere else.
Driving Consumers Down the E-commerce Purchase Funnel: How to Gauge True ROI
ANA. February 2020.
The shift from brick-and-mortar to e-commerce provides marketers with unprecedented access to consumer data, which if leveraged properly can generate sales growth. Companies can use digital marketplaces or develop their own apps to create experiences that drive purchase intent. Using aggregated data, marketers can create more customized advertisements and promotions that drive conversions.
Creating Retail Traffic Through Intelligent GPS Data Customer Mapping
ANA. November 2019
Aldi, a Danish supermarket, used geo-location targeting to strategically identify where its shoppers lived. It then used that data to determine if its printed retail flyer campaign was reaching the right consumers. By utilizing geo-location technologies, Aldi was able to achieve greater targeting efficiency and generate savings.
What the Future of Retail Marketing Has in Store
ANA. December 2019
How will shopping change in the future? Much like how it always has, but smarter, easier, and more seamless — all stemming from the ease of automation and AI. Despite the increasing clout of social media and digital marketing, physical retail stores aren't a thing of the past but a vital window into how marketing will be practiced in the future.
Download Now!
For the first time in decades, major retailers are being forced to reassess their business model, and create unique, engaging experiences to bring customers back to brick and mortar. Brands must invest in in-store experiences and customer relationships to thrive in this new market.
ANA Marketing Futures spoke to marketers across the industry to weigh in on what the future holds for retailers and CPG brands alike, and created a guide to help brands master the omnichannel customer journey, and elevate the in-store customer experience.
About ANA Marketing Futures
Knowing that marketers are increasingly challenged in their efforts to keep up with the latest trends and technologies, the Association of National Advertisers (ANA) tasked itself with creating a program designed to help marketers anticipate—and prepare for—the future of marketing.
ANA Marketing Futures is what emerged. With a focus on innovative topics and emerging trends, ANA Marketing Futures provides resources that will influence and inform via member cases, research studies, and insight from industry innovators. Check back often to learn about emerging trends and become inspired to take steps toward the growth of your business.
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