CBRE: This Is What Retail Will Look Like By 2030
Technology, automation and a push for experiences over goods will continue to define retail in coming years. The industry is expected to continue changing shape, and by 2030 CBRE projects it could look significantly different from the sector today.
These eight trends in particular are expected to catch fire by 2030:
No. 1 Predictive Analytics
Retailers will use data analytics and technology to accurately predict consumer buying habits. This will lead to increased automation in the ordering of essentials such as groceries and make brick-and-mortar shopping a leisure experience.
No. 2 Individualized Customer Experiences
Using analytics, retailers will be able to customize an individual’s shopping experiences. This could result in the rise of niche retailers and shopping centers that target specific groups of people, rather than the broad population.
No. 3 Store Experience
Physical stores will become a destination where customers can see, touch, feel and try products before they buy them online and have them delivered to their home.
Rather than carrying inventory and merchandise, stores will be created to immerse the consumer in the brand. Online shopping will be strictly for purchases.
No. 4 The Rise of M-Commerce
Shoppers will be able to use their phones to take a photos of an item, research it and then purchase it from anywhere and at any time.
No. 5 Omnichannel Retail
Retailers will ensure a healthy combination of brick-and-mortar and online sales in order to appeal to a full range of customers. The two will merge to work together harmoniously.
No. 6 Fierce Competition
Competition for consumers’ disposable income will grow as shoppers increasingly favor experiences over goods.
No. 7 Automation
Robots will take care of mundane tasks while human employees focus on educating shoppers about the brand and goods in the store.
No. 8 Autonomous Vehicles
Few people will own cars in the future. Rather, they will simply have easy access to them. Autonomous vehicles will solve a big problem for retailers as of late — the last mile. With AV technology, deliveries will be able to reach customers faster and more efficiently.