17 Feb 6 transformative retail trends for 2023
Posted at 19:39h
in Retail
Useful ideas
- Financial polarization will redefine price tiers and assortment needs
- Global and long-distance supply chains will become more condensed, local, transparent, and cost effective
- Sustainability shifts from promise to proof
- The geography of spending in the U.S. is shifting
- The digital and physical worlds of omni retail will finally merge
- Gen-Z is transforming the future of shopping like never before
Augmented Retail: Post COVID-19 lockdown, there has been a stabilization with offerings like click and collect, and simultaneously there has been a return to the store, a reinvigoration of physical retail. Ma described this as one of the positive consequences of the pandemic, that the inability to visit stores actually made them more appealing to many shoppers.
Social commerce: [Gen Z] has inspired an ecosystem of always-on shopping, with high expectations for meaningful and memorable experiences.
THOUGHT STARTERS
- Augmented Retail vs Social Commerce: If Gen Z consumers are engaging in always-on shopping, what motivates this segment to shop in person?
- How do other consumer segments (e.g. Boomers, Gen X, millennials, etc..) engage with social commerce, augmented retail, or in-store shopping?
- How sustainable are these trends in-store and do the operational models scale according to the shifting consumer behavior?