Retail news that keeps industry pros in the know
Retail Brew delivers the latest retail industry news and insights surrounding marketing, DTC, and e-commerce to keep leaders and decision-makers up to date.
At last, a retail forecast that wasn’t ripped out of The Day After Tomorrow. CB Insights published a study projecting that brick-and-mortar stores won’t go extinct by 2030. Instead, they’ll survive with the help of some high-tech experiential upgrades.
3D printing a Futurama picture. Come 2030, CB Insights says we’ll be in a techie fever dream that puts ease of experience above all: In-store third-party returns, automated last-mile delivery, virtual fitting rooms, and on-site customization will be common features of the futuristic errand run.
How do we get there? Natan Reddy, a CB Insights senior intelligence analyst, tells me bridging the gap between now and when depends on tech that can convert store traffic to purchases.
- “Retailers sometimes think a random event in store or a cafe is going to automatically drive sales, but there’s no easy path to purchase between the experience and products you’re selling,” he says.
- An inventory visualization app or automated cashier can fill that hole, bringing the ease of online shopping to physical experiences.
Bottom line: In-store shopping of the future is all about leveraging physical outfits to serve digitally inclined customers.