Will my high street change in the next 5 years?
Or rather, “HOW will my high street change in the next 5 years?” because of course the answer to the former question is yes.
In a recent blog I made the point that it’s not all doom and gloom but unless some retail organisations change direction and approach, we’ll continue to see some decline.
This ongoing shift in the retail landscape shows no sign of slowing down; in fact customers’ expectations of a consolidated retail experience will remain a challenge for retailers in the UK and globally. Many of these retailers are underway with digital transformation taking their offers into use of social engagement, use of cloud technologies, algorithmic approaches to advanced analytics, leveraging opportunities with the Internet of Things (IoT) and augmented reality.
Large physical store bases are in some cases still the weakness, alongside having the necessary momentum to change. Only five years ago retailers were watching over their shoulders as Amazon was miles behind; now they are stuck in its wake, in the ruts, eating the dirt being kicked-up as the internet champion blazes a trail through the retail heartland…