Even industry giants are closing hundreds of stores. Future Proof Watch again | loading video duration... With a lens on the future, retailers are re-imagining stores for the digital age – using technology to create new experiences from product discovery to checkout. The Augmented Retail Vision. Retail: stores of the future. Most medium and large retailers now have their own ecommerce operation and one of the main Future-store questions for them is how to balance their ecommerce operations and IT with the way their physical stores operate. Initially a method of buying books and music in the early 1990s, which has moved the retail store from the mall or high street into the customer’s own front room. Farfetch, the online luxury pure-player, has unveiled its ” Store of the Future ” (SOF) during its FarfetchOS conference in London on April 12th.. The problem that many multiples now have is that their stores are too large. Retail has long been segregated into binary men's and women's sections, a system that is both outdated and exclusionary. Email address: Leave this field empty if you're human: Search. The Future of retail. Below is a list of videos with some new ideas. https://www.cmo.com/features/articles/2018/1/5/5-companies-offering-a-glimpse-into-the-store-of-the-future.html#gs.sc9wie, If you need more information about Centre of Retail research please us our contact form to send us a message. As they adopt new business practices and models, retailers will have to turn to technology to meet changing demand in this new … and . “Is there a foodservice area where people can interact, socialise, and have a meal? They don’t go through the day with […] “Are you looking at the different types of ingredients that are being used in the products themselves, are you looking at digital native brands that fit with your general store proposition?”​, The analyst highlighted that ‘curation’ should be the ‘number one’ step for reinventing retail stores. It’s a not so subtle play on the concept of "future shock" — the term used to describe our reaction to “too much change in too short a period of time”. The discounter sells own-label products under the Trader Joes brand, which has garnered an international following. Consumers don’t think about retail the same way we do. “We think that data will be used in order to inform, very specifically, where each item needs to be placed; what type of route consumers should take in the store; how the store should be allocated; what types of services should be [offered] based on the location of the store; and what consumers in [specific] areas want to see in-store.” ​. Future Shop: 10 Innovations in the Retail Store of the Future. Every trend firm, every consultancy. Retailers Want to Make Their Stores Great Places to Shop. Learn More. Every CEO, senior executive, CMO and CIO is obsessed. Traditional retailers are focusing on their digital strategies, fretful of the ‘retail apocalypse’ and ‘death of the high street’. There, in front of 200 fashion industry insiders and partners, José Neves, the founder of Farfetch, unveiled “The Store of the Future,” a suite of new technologies developed … 1 or 2 will still have a solid base for competition, for sure. Augmented Retail is about venturing beyond online e-commerce and addressing the key needs for the luxury fashion industry in the brick-and-mortar space, connecting the two worlds together. I used to think that the Future-store was all about technology, but that is wrong. Store of the Future. “I think that one of the reasons why retailers like Aldi…are successful is because although it’s not apparent at first sight, it sort of replicates the e-commerce experience, in that we can find the cheapest product of the highest quality,” ​said Macridi. A hundred years ago, visiting a department store was the most thrilling thing ever, such a range of goods, displayed to perfection in what seemed like palaces of commerce. The future of big retail needs to be friction-free and focused 100% on the customers' experience. Experiential ​is another key characteristic of future brick and mortar outlets. Retailers should focus on four key elements – as identified by Edge by Ascential – to transition into the store of the future, suggested Macridi. Produkteinführung im Handel. What Farfetch’s ‘Store of the Future’ means for the luxury industry? Even Amazon Go stores, which have received tremendous favourable publicity a year ago, have a limited range of goods and the average customer spend is currently very low, suggesting that technology alone is not the answer. Subscribe, By Flora Southey 5 Tipps, die helfen sollen; Eine Handelschance namens Corona. Offers and recommendations are made to her mobile using AI, depending on what he or she looks at in the store. Let us assess your retail store through our LEAD experience framework to determine which of these solutions will drive the most value for your business. Self-service and self-selection is the norm these days in virtually every store. Haben Sie Fragen? Online retail sales in 2016 grew 10.1% compared to 1.4% for total retail sales, or 7.4 times more. Right? “They have experimented with a lot of technology in-store, they have a lot of partnerships with shop-in-shops, all the things that make shoppers come back.”​. Free newsletter To succeed in the increasingly competitive retail industry, stores should be underpinned by technology, stock carefully curated products, provide areas for socialising, and enhance the consumer experience, says analyst. “How can [retailers] add services that can really enhance the experience, how can they add things like cooking classes or [ways for consumers to] learn things in-store?” ​Macridi continued. Probably. By . But also one that is very much powered by technology,” ​said Macridi. Die 10 Handels-Trends 2021; Verbandsmarken, die heiße Hassliebe. He produced Farfetch’s Store of the Future, an augmented retail solution that “links the online and offline worlds, using data to enhance the retail experience.” In its retail store in London, Farfetch provided connected clothing racks, touch-screen-enhanced mirrors and sign-in stations that pulled data collected online to use in-store. morgenmacher.com. https://www.retail-week.com/stores/analysis-seven-ways-retail-is-going-back-to-the-future/7032501.article?authent=1. You may need to register. The analysts predicted discount supermarket Aldi to significantly increase market share in the coming years, despite not selling food products online. In the last 50 years the next best thing of course has changed a great deal. These four elements will ‘elevate your store’, but they need to be executed in a sustainable and cost effective way, the company stressed. Stores have got bigger and bigger: in 1965 the UK definition of a supermarket was a 3,000+ square feet store with self-service. It has included the shift to self-service with the new Supermarket (and later the Hypermarket or Superstore) seen as the essence of the Future-Store. 12-Jul-2019 at 09:54 GMT. Above all, retailers need a different type of scale to thrive in the future. Analytics is also core to their attempts to win and retain traffic, both online and in-store. It is not uncommon to see retail stores that are so out-of-date they look like backdrops to old films, but generally retailers have always been passionately interested in finding out what will be the next best thing in shopping. Der Real Future Store in Tönisvorst bei Krefeld ist die Zukunftswerkstatt des Handels. googletag.cmd.push(function () contact, 11-Jul-2019 AI also manages the store’s supply chain. Some of the merchandise that used to help fill the sales area, such as music, videos, CDs, small electrical goods, homeware, kitchenware goods, clothing and babyware, are now bought from discounters or online. And at the report launch this morning (11 July), the company’s senior director of product & content, Xian Wang, was quick to point out that a ‘no check-out’ policy should not mean offloading the cashier’s work to consumers. Symphony RetailAI has identified key trends for reinventing the grocery industry with “Supermarket 2020” findings. In an effort to meet more demanding consumer expectations, offline players are adopting new technologies and convenience-driven systems. Learn what's new in the world of retail, and keep up to date with retail disruption, crisis, challanges, events and crime. Author: Elliott Jacobs. Kontaktieren Sie unseren Managing Director Germany Jan Gutkuhn, wenn Sie mehr wissen möchten. Store of the Future continues After a successful year, Q&A decided to continue the concept of Store of the Future. Robert Williams. Rob Lane investigates. However it is true that technology costs normally fall with mass production so that a product like a virtual 3D mirror (which shows you what the garment looks like from every direction and can even change the garment’s colour without the customer needing to put a fresh garment on physically) may potentially become very common. These include ‘experimential’ projects such as shop-in-shops partnership with FnacDarty in France, and with Gome in China; social elements with its ‘Art For Food’ programme and in-store cafes; its ‘curated’ products covering private label free-from brands, Carrefour baby range, and Carrefour Selection. Some ideas are terrible (facial recognition), some practical (refills or subscription services) and others involve high tech that is worth considering (shop and Go and automatic RFID-based no-wait scanning). Recent Posts. If physical stores are to survive they need to add something different to the shopper’s experience – something they cannot get online, but if the new stores are too slow, inefficient or too expensive they probably won’t be the Store of the Future for very long. Moreover, technology-intensive stores will have much higher costs than other stores and this probably means they will be confined to major shopping destinations. Credit: Pierre Metivier Robotic shopping assistants like chatbots are already a standard feature of many online retailers, but as the border between online and offline is blurring, shoppers can expect to see robots that interact with customers to answer questions in brick-and-mortar stores in the nearer future. 2019 comes at a time when the retail industry has just enjoyed a record-breaking holiday buying season at the end of 2018. A new report from CBRE showcases what the store of the future looks like. 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