Business & News

Future Of Retail

Jun 16, 2023

Future Of Retail

The pandemic has driven retail stores to either shut down—due to staff shortage and financial constraints—or shift to e-commerce. As we enter the post-pandemic era, shopping may never be the same. More and more brands from the retail industry are leveraging automation technologies and social media into their business to fit the consumer’s newly-developed shopping habits.

Here are some retail trends you should expect in a couple of years;

Online shopping

Both big and small brands are running e-commerce shops to sustain consumers, especially those who prefer to shop remotely or aren’t ready to shop in person yet. Though it’s nothing new, expect a high increase in online shopping. It is also becoming a huge convenience since pharmacies and groceries now offer door-to-door delivery on their online platforms.

Brick-and-mortar stores to be restructured

Unlike the traditional way where a strategic location determines the business’ success, physical stores will no longer be necessary. This is because e-commerce drives more consumer engagement. Besides that, automation technologies will be integrated into retail operations. Induced by both pandemic and technology, retailers will initiate a more diverse approach to grow their brands. This can mean partnering with department stores, setting up online shops, and downsizing human resource.

Increase in personal shopping services

Besides online shopping, service like personal shoppers is now more practical than ever. Following the decline of physical shopping in retail stores, this will be useful, especially for consumers who do not have the time or ability to shop or are unfamiliar with e-commerce technologies. Otherwise, this practice has already been adopted by bigger brands to offer their customers a more personalized yet effortless shopping experience.

Increase in social media and influencer marketing

Recently, social media has been driving a lot of consumer engagement in most brands. It is one of the most effective marketing strategies—especially for younger consumers. Because of that, brands are using hashtags and creating content that such consumers can relate to and engage with. Besides that, influencer campaigns will become a strong driver for brand awareness as they can promote integrity and transparency for these brands. Unlike traditional marketing, these approaches are fast, creative, and engaging.