Reading this recent Linkedin post from The Business of Fashion, one cannot help but wonder… Retail Stores being more than a distribution channel:
- Service Touchpoints – product interactions, customer relationship building…
- Brand Billboard – Customer acquisition, advertising…
- Immersive Entertainment – Experience, personalization…
- Community Hub – Loyalty building events, community content…
Does it not sound as classic example of BCG’s Growth Matrix where you extend the life of a “cash cow” to “milk it” until it dies? If so, what is the real future of Retail?
Let us give you a hint (or two):
Soon you may be able to 3D print clothing in your own home.
Fully customized, instantly, on demand, sized for you, unique.
Samsung is using computer vision to tell you what’s in your fridge.
In the future, you can imagine that when Bixby Vision determines you’re low on milk, a new carton will be ordered automatically.
Current drivers of these trends are well recorded
1. “Inclusivity/Diversity”,
2. “Instant gratification/Now-now-now!”,
3. “Social Isolation”
So when you close your eyes and dream of Retail 2030, what do YOU see? Let us know…