Our Marketing and Insights Director, Diane Wehrle, spoke to Raydiant about the future of retail.
This article is part of Raydiant’s new Future of Retail series which interviews the world’s leading retail experts to better understand how the industry has evolved and most importantly, where it’s headed.
"The future for bricks and mortar retail may well lie in stores broadening their role to function as more than simply transactional locations."
Diane Wehrle, Springboard.
Diane answers questions such as "What are the top trends you see shaping brick and mortar retail in the next 3-5 years?" and "What technology do you believe will have the biggest impact on the retail industry in the next 3-5?".
She also answers the ultimate question "What’s the future of brick and mortar retail?".
"Before the Coronavirus outbreak, I was convinced that bricks and mortar stores will always have a future in retailing, and I remain so. The vast majority of spending remains in store – before the pandemic, it stood at around 80% which is the strongest indicator possible of the ongoing demand from consumers for an in-store shopping experience. As human's we crave social interaction and one very likely outcome of the enforced restriction could be a bounce back in demand for bricks and mortar stores. However, given the rising demands of consumers in terms of price and convenience, the long-term future for bricks and mortar retail may still lie in stores broadening their role to function as more than simply transactional locations and instead as community hubs."
Read the full article on Radiant's website.