The Four Ps of the Future of Retail
Strategizing for Retail in Times of Disruption
  • Rapid technology advancements and rising customer expectations have disrupted the global retail industry in the past decade. Outdated retail store concepts, new generations of consumers, and new points of commerce (voice commerce, for example) have also disrupted the industry; however, COVID-19 has been the key disruptor. After the pandemic, retailers should begin to look beyond what consumers want; they should build conversations around product experiences, brand engagement, and preferred purchase options. This Frost & Sullivan whitepaper will help retailers understand the current industry scenario, in light of COVID-19 and other disruptors, and will offer assistance in terms of strategizing for the future.

    In a post-COVID world, four key aspects will disrupt the global retail industry. Retailers must understand their implications to be able to plan for the future.

    • Future Retail Place: Physical retail is being reinvented, and stores are moving from small boxes to novel boxes (experiential stores).
    • Future Points of Commerce: New points of commerce, such as in-vehicle commerce, are being introduced.
    • Future People: Generation Alpha is the new generation of influencers and future customers.
    • Future Processes: Technology advancements, including artificial intelligence (AI), virtual assistants, and augmented reality/virtual reality (AR/VR), are being incorporated in retail processes.
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