Stores of the future: bricks and mortar will reinvent not decay
Global physical retail sales have been increasing, even as e-commerce continues to clock growth. Retail stores will focus on attracting customers through their need for tactile product interaction. The future physical store will use digital technologies to provide seamless omnichannel and experiential shopping. AI, augmented reality (AR), and virtual reality (VR) solutions will transform stores into showrooms that provide virtual hyper-personalised product trials with virtual assistants. Brand apps will blur the line between online and offline shopping experiences by bringing frictionless shopping to stores. AI-enabled analytics and IoT-edge devices will spur smart supply chains and intelligent inventory management to boost customer convenience. Brands will extend experiences to build communities to grow the customer base. The future of retail is phygital.
