Future of Retail & Commerce – In a Nutshell

Mar 13 2021

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Shifting Trends in Digital Retail and Commerce

Commerce veterans are experiencing firsthand the rapid consumer behavioral shift and the technological disruption that are changing the landscape for retail. This accelerated digital transformation is showing no sign of slowing.

Taking information from our Future of Retail whitepaper, we have highlighted some insights to cut through the barrage of information coming from all directions to help you chart your commerce course for WHAT’S NEXT.

The Future of Retail

Putting the data into context

The explosion of emerging technologies like artificial intelligence, augmented reality or virtual reality, and IoT are adopted at an accelerated speed since the onset of the pandemic. Using these emerging technologies, retail brands are thriving by bringing the in-store experience into digital spaces through social commerce, personalized recommendations, virtual product experiences and more.

When it comes to buying behavior, we are at the non-linear, truly dynamic consumer behavior age that demands rapid experimentations and click-and-mortar business model to cater to the always-shopping mode.

Pandemic-induced digital acceleration and consumer adoption is here to stay. Mid-market brands that are early adopters are raising the bar of digital maturity.

The post-COVID landscape is not just demanding the retail industry to a) fix digital transformation gaps and b) get creative with newer technologies, but also rethink the business strategy from the ground up. A refreshed outlook is needed that connects retail brands at a deeper emotional level while at the same time meeting the growing consumer expectations leveraging a revised membership-driven business model.

Dig Deeper into WHAT’S NEXT for Retail

The retail and commerce industry is always in an amorphous state: constantly reshaping, expanding, and even constricting with all the blows and bouts; the biggest blow being the pandemic. This amorphous state is here to stay, and the effects of the recent big blows will reverberate for some time.

The best tool for the retail industry to stay in control in this ever-shaping landscape is the digital transformation with full agility. Therefore, with the help of two of the industry experts, we have drafted the whitepaper WHAT’S NEXT: Behaviors Transforming Retail in Near Future that:

  • Provides a hindsight view of the technological, social and behavioral changes that have been sneaking up on the retail and commerce industries.

  • A foresight perspective on what's to come, how to be ready for it, and What’s Next to accelerating commerce.

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