News • 28.09.2022

Are regular stores a thing of the past?

GlobalData: Online shopping trend to completely change how we shop at physical stores by 2030

People love the convenience of shopping online, and experts at GlobalData believe that, by 2030, this will have an even greater impact on the high street than we see today.

The word Change written in bright white letters on black background...
Source: Roberto Cortese / Unsplash

The leading data and analytics company predicts that stores will focus on ‘customer experiences’, which includes increased personalization of products; malls becoming ‘entertainment centers’ alongside fulfilling their purpose as ‘shopping centers’; regular stores will become a thing of the past while flagship stores become more like car showrooms, where you try out products in store and purchase for same-day home delivery; and significant use of robotics and automation for a smooth contactless and checkout-free experience.

These predictions were made as part of GlobalData’s report, ‘Tech in 2030 – Thematic Research’, which is one of a series of 12 reports exploring the intriguing future of 11 industries: education, energy, entertainment, financial services, food & farming, healthcare, manufacturing, retail, space, transport, and work. As the world adapts to the profound shifts in the global economy, these reports seek to answer the question of what the world will look like in 2030.

E-Commerce is here to stay

Shabnam Pervez (MBPsS), Thematic Intelligence Analyst at GlobalData, comments:E-Commerce, or ‘online shopping’, has proven to be a retail theme that’s here to stay, and the future of shopping has irreversibly changed. Personally, I find the most exciting development is the changes we will see in malls. Centers in the US, Canada, Dubai, and Finland have already started housing entertainment facilities such as ice rinks, cinemas, aquariums, exhibition halls, and theatres, but this will soon become a world-wide standard. No longer will you head to the mall only to shop. You will seek to be entertained first and foremost, then do some shopping on the side. The primary purpose of a mall as a destination shopping experience will be shared with entertainment. On some trips shoppers will seek to be entertained first and foremost with shopping becoming as a secondary activity.”

This is all in response to the online shopping trend, as malls need to attract footfall to physical stores. It’s also all about convenience. If someone wants to buy something, it’s usually just easier to go online than to physically travel somewhere to buy it. Offering these attractions at malls gives people another reason to visit. GlobalData also predicts huge changes for the high street, with future flagship stores expected to resemble showrooms akin to the car showrooms of today.

Stores like showrooms, staff as brand ambassadors

Pervez continues: “Brick-and-mortar stores will be forced to explore new avenues to get consumers back onto the high street. 2030 promises unique consumer experiences that favour the modern consumer, so this will mean adopting advanced payment methods and increasing customer personalization, all while ensuring convenience remains at the forefront. For flagship stores, we predict that they will increasingly resemble showrooms. Staff will act as brand ambassadors, offering their expert knowledge, demonstrating products in store and inviting customers to try them out, with the option of same-day delivery to their homes.”

GlobalData’s report highlights that augmented reality (AR), artificial intelligence (AI), robotics, and virtual reality (VR) will be prevalent in 2030’s malls and high street stores – and not just in the visitor areas.

Pervez addss: “GlobalData expects significant automation of distribution, logistics and in-store functions by 2030, with robots either replacing or aiding workers at all steps. Tasks that would be performed by a staff member on-site, such as deliveries and inventory, will be performed by robotics and drones, whereby workers navigate delivery robots to customers homes for last mile deliveries and monitor inventory using drones.”

The full report can be bought here.

Source: GlobalData

related articles:

popular articles:

Thumbnail-Photo: Kraft Heinz optimizes product content for 3000 SKUs to win on the...
07.12.2022   #e-commerce #digitization

Kraft Heinz optimizes product content for 3000 SKUs to win on the digital shelf

Salsify assists Kraft Heinz in delivering a consistent brand experience across every digital and physical retail channel

Salsify, the Commerce Experience Management (CommerceXM) platform empowering brand manufacturers, distributors, and retailers to win on the digital shelf, announced it is helping The Kraft Heinz Company update retailer product content in just ...

Thumbnail-Photo: Christmas World
23.01.2023   #event #marketing

Christmas World

03.02.2023 - 07.02.2023 | Frankfurt, Germany

The trade fair for the busiest time of the yearChristmas World focuses on the strongest-selling and most emotional time of the year and exploits the success factor of experience at the point of sale like no other consumer-goods trade fair. This ...

Thumbnail-Photo: How to win the Amazon algorithm
20.10.2022   #online trading #event

How to win the Amazon algorithm

Salsify webinar on 27th October 2022

Amazon’s data shows that 70 percent of Amazon customers never click past the first page of search results. But how can your brand’s products reach - and stay on - the first page of search results? Product content is a main component ...

Thumbnail-Photo: Without colour, but with a lot of environmental awareness...
23.01.2023   #sustainability #logistics

Without colour, but with a lot of environmental awareness

Bonprix sets new impulses in sustainability with undyed product line

In 2022, the Otto subsidiary presented "Undyed" styles for the first time, products that do not require any dyeing at all: natural-coloured sweatshirts, nightwear, underwear and socks. How did the idea come about, how was it implemented, ...

Thumbnail-Photo: First retailers announced for Royalmount shopping centre...
11.11.2022   #brick and mortar retail #retail

First retailers announced for Royalmount shopping centre

Louis Vuitton, Gucci, Tiffany & Co. and RH with new presence in Montreal's new Midtown destination

Royalmount, Montreal's future destination for over 170 stores including 60 restaurants and experiential attractions, has announced that Louis Vuitton, Gucci, Tiffany & Co., RH, Sandro and Maje have been confirmed for the major new retail and ...

Thumbnail-Photo: Why a PIM solution is essential for your ecommerce strategy...
24.11.2022   #e-commerce #customer relationship management

Why a PIM solution is essential for your ecommerce strategy

Salsify's webinar on effective product information management (PIM) on Nov. 30 at 4 p.m.

Effective product information management (PIM) is the cornerstone of your brand’s ecommerce strategy. Accurate and relevant product data helps brand manufacturers win on the digital shelf by convincing shoppers on all channels and touchpoints ...

Thumbnail-Photo: MWC Barcelona
23.01.2023   #Tech in Retail #mobile shopping

MWC Barcelona

27.02.2023 - 02.03.2023 | Barcelona, Spain

Where technology, community and commerce convergeMWC Barcelona is the largest and most influential event for the connectivity ecosystem. Whether a global mobile operator, device manufacturer, technology provider, vendor, content owner, or simply ...

Thumbnail-Photo: ISE – Integrated Systems Europe
23.01.2023   #Tech in Retail #event

ISE – Integrated Systems Europe

31.01.2023 - 03.02.2023 | Barcelona, Spain

ISE 2023 will showcase the world’s leading technology innovators and solution providers which include industry-leading brands such as Absen, Blackmagic Design, Barco, Christie, Crestron, Google, KNX, Lang, LG, Logitech, Panasonic, Samsung, ...

Thumbnail-Photo: Innovative Specials at EuroShop 2023
20.01.2023   #brick and mortar retail #retail

Innovative Specials at EuroShop 2023

Interactive areas for ideas and visions in retail provide new approaches for the future of inner cities and retail as well as multi-sensorial places

The Specials of EuroShop, the World’s No. 1 Retail Trade Fair, will again provide exciting impulses for the future of retail this year. From 26 February to 2 March 2023 the eight Specials in total will invite visitors to join in, network and ...

Thumbnail-Photo: Macy’s announces sustainable initiatives to drive a more circular...
30.09.2022   #sustainability #Tech in Retail

Macy’s announces sustainable initiatives to drive a more circular future

Through its social purpose platform, Mission Every One, Macy’s, Inc. is committed to creating a brighter future for all

Macy’s, Inc. has provided an update detailing its achievements towards its long-term sustainability goals – including initiatives that promote circularity throughout its value chain. ...

Supplier

salsify
salsify
7 rue de Madrid
75008 Paris