Over the past 15 years, the traditional retail model has been dramatically disrupted by online retail. With the introduction of online retail, shopping is gradually being transformed from an offline activity to an online one. That was the first retail disruption, but it’s not the last. Increasingly online retailers and offline retailers are evolving to provide an immersive, seamless, and personalised shopping experience. Customers don’t want a fully digital experience while shopping; rather they want a digital shopping experience that is so seamless as to not seem like a shopping experience at all. Powering this change is artificial intelligence that uses data to give each shopper an experience crafted especially for them.
Looking to 2025
Customers expect retail brands to be intertwined with their lives. The line where a retailer is distinct from a shopper will begin to blur. Increasingly, shoppers expect retailers to play a larger and more central role in their lives. By 2025 the products retailers sell will matter less than the experience they provide and what their values are. Offline retailers will have to reimagine their stores as experience zones that innovatively serve shoppers.
Date: July 18, 2019
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Source: The Statesman