Store of the Future

Physical retail is evolving in response to changes in consumer behavior, which have been accelerated by two + years of the COVID-19 pandemic.

The "Store of the Future" is really its leading-edge store of today supporting Key Technologies for "Future Stores".

KEY TECHNOLOGIES INCLUDE:

  1. FRICTIONLESS

  • Since Amazon pioneered the format with Amazon Go in 2018, many convenience and grocery retailers have piloted frictionless stores. Circle K in Arizona is rolling out 6 stores in Tucson, Az. this year.

  • These stores feature a "Just Walk Out Shopping Experience" enabled with a consumer app and some combination of computer vision, sensor fusion and machine-learning technologies.

2.The Best of Both Worlds

  • The increased blurring between digital and physical channels combines the personalization of e-commerce with the immediacy of brick-and-mortar shopping.

  • The first AMAZON STYLE store will open later this year in Glendale, California. The store's assortment of apparel, shoes and accessories will feature "Hundreds of Brands" chosen by fashion creators and "Feedback from MILLIONS of Amazon.com customers.

3.The Return Journey

  • Traditionally, product returns were handled by brick-and-mortar stores. Several start-up companies are now serving as a mode for online orders, as well.

  • The Mall of America has a partnership with NARVAR that enables easy drop-off in multiple locations for Brands including Gap, Old Navy, Athleta and Banana Republic.

SOURCE: Technology, Amazon Go, Mill Creek, Washington, Rendering for image



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