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
Personalization in marketing is nothing new; since the dawn of the internet, brands have been able to customize messaging to specific groups or even individuals. However, we haven’t always used this engagement superpower for good. Many brands have been guilty of getting a little too personal and creeping out their customers in the process. But today’s guest says there’s a bright future for personalization as a cornerstone to modern marketing. Mike Barclay of MoEngage joined the pod to discuss the highs and lows of personalization, and what brands born before the dawn of the internet can do to get in on the personalization game.
> See all episodes
QR Codes are an extension of the barcode, and were first introduced as a way for manufacturers to scan larger amounts of data quickly. By 2011, retailers and tradeshows were able to take advantage of smartphone technology to utilize QR codes in their inventories, badging, and check-ins — and slowly there emerged consumer usage in the form of online offers.
The process, however, was clunky and involved third-party app software to get QR Codes to work. Fast forward to 2020, when the COVID-19 pandemic raged, and the need for contactless interaction became paramount. It was during this time that QR Code technology could now exist on everything from packaging to OOH signage, and with a simple hover of a smartphone’s camera send consumers to microsites, check-in pages, and offers.
This has allowed marketers to take advantage of QR Codes in ways previously unthought of; however, like most technologies, there are privacy and safety issues to be aware of — and the current speed and ease of QR Code usage means large untapped potential for marketers in the future as well. Read on to see how marketers are using them and addressing issues with QR Codes.
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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