Disruptive tech and coronavirus drive massive change in retail

Retailers will increasingly invest in digital technologies, including digital assistants, ambient commerce, artificial intelligence, automation and advanced analytics in a post Covid-19 era.

That’s according to a new report from Frost & Sullivan, entitled The Four Ps of the Future of Retail (the four ps being future retail place, future points of commerce, future people, and future processes).

"The retail space will undergo massive changes as the age of disruptive technology, exacerbated by the pandemic, continues to impact consumer behaviour and buying trends," says Murali Krishnan, Visionary Innovation Group Research Analyst at Frost & Sullivan.

"Going forward, physical stores will have to reinvent themselves; they will evolve from small boxes to novel boxes, and the emphasis will be on technology adoption, customer engagement and social experience."

He adds: "New points of commerce such as home ambient commerce and in-vehicle commerce will emerge, and Gen Alpha - babies born from 2010 to 2025 - will join Gen Z in becoming a dominant digital-native population influencing retail strategies.”

“Further, digital assistants, assisted commerce, AI-driven decision-making, and automated processes, among other technologies, will revolutionise all aspects of retail, leading to a personalised, fulfilling customer experience."

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