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This includes contactless payments, reducing physical touchpoints, and expanding and simplifying click and collect. “There’s an opportunity for retailers to start innovating with the physical space again.”īerg also says physical stores will need to become frictionless in more ways than one. “Bricks-and-mortar retail will become a high-touch, sensory-driven experience,” she says.
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The stores that thrive will need to tap into emotion, human connection, discovery and community. “There will be fewer, but far better stores,” she predicts. However, Berg warns that mediocre 2020 players won’t survive the pandemic and are unlikely to return as traditional retailers. While COVID-19 has undoubtedly accelerated the rise of ecommerce, there will always be a place for bricks-and-mortar retailing. “We’re all craving to go into a store again,” says Berg. While the coronavirus crisis has shuttered many high street stores and seen retailers and consumers flock to ecommerce, physical stores will be the focus again, but with a new emphasis, by late-2021. “We will experience our own version of the Roaring 20s,” says Natalie Berg, retail analyst and founder of NBK Retail. So what will shopping look like in 2021, 2025 and 2030? Small businesses have been forced to develop digital platforms, in-store payments have moved away from cash and orders delivered by drones no longer seem worlds away. The coronavirus pandemic has accelerated future retail trends as many businesses rapidly adopt new services and technologies.