{"id":2749,"date":"2019-03-13T16:37:55","date_gmt":"2019-03-13T16:37:55","guid":{"rendered":"https:\/\/www.happyfinish.com\/wordpress\/?p=1018"},"modified":"2023-04-26T14:04:50","modified_gmt":"2023-04-26T14:04:50","slug":"the-future-of-retail","status":"publish","type":"post","link":"https:\/\/happyfinish.com\/the-future-of-retail\/","title":{"rendered":"The Future of Retail"},"content":{"rendered":"\n
We enter a time where industries, especially retail, are under pressure to adapt to the fast pace and shifting expectations and behaviour of consumers. <\/strong><\/p>\n\n\n\n With around 73 million millennials making up the current population, they are fast becoming the largest market for brands. Given how tech-savvy they are, married with the fact that technology is constantly evolving, retailers need to capitalise on this to captivate these digital-age consumers. Additionally, with big players like Amazon and Apple creating highly competitive environments, brands and retailers are having to rethink their strategies to realign with the modern day shopping experience.<\/p>\n\n\n\n Whilst online sales have seen huge growth over the past eight years, physical stores have still retained significant importance in retail strategy. The need for a store is somewhat shifting and brands are struggling to determine which consumer needs to target within their physical store. Lack of agility in the transformation of omnichannel retail can often hit brands where it hurts, and lead to detrimental consequences.<\/p>\n\n\n\n So what is the future of a brick-and-mortar shopping experience?<\/strong><\/p>\n\n\n\n Customers are living in a society of constant entertainment and engagement, and their expectations from a store are moving in line with their lifestyle choices. Customers want to be inspired and be given an experience. Nike is a perfect example, providing a groundbreaking 6-story personal and responsive experience in its flagship store in London. The store highlights the true promise of \u2018Living Retail\u2019, giving customers a personalised experience that allows them to view products in an experiential way and go on to use their own mobile device in order to have a seamless payment journey. Nike has a customisable platform to create your own products and an entire floor that uses local data to stock its shelves, based on what the community want.<\/p>\n\n\n\n