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The role of the store continues to evolve. Before the crisis, we were seeing a shift to smaller footprints with limited inventory that focused on high-touch service and experience. Now as we emerge into a new normal, this model is being upended again. While it’s difficult to predict if physical retail will be forever altered, the emerging signals offer some telling insights for right now. As consumer desire for transparency, trust, safety and control increases, their expectations around longstanding truths like convenience, seamlessness and personalization change as well, which directly impacts key aspects of store operations.
Join PSFK as they explore trends along the purchase path and unpack what this means for physical stores from technology investment and staffing to merchandising and design.
What you’ll come away with:
•An understanding of how consumer attitudes are changing.
•A perspective on how retailers are rethinking their store experience.
•Implications for key aspects of store operations.
Key reflection questions:
•What tools will we need to provide to customers and employees?
•What are the key services that we will need to offer?
•How can we make decisions that will set us up for the long-term?
Scott Lachut is Partner/President of Research and Strategy at PSFK. For 10+ years, Scott has delivered insights to world-class brands. He studies emerging cultural signals to create frameworks for understanding change and its impacts, allowing him to paint a picture of the future, identify new opportunities and develop strategies for how to leverage them.
Lauren Lyons is a Strategist at PSFK, developing content around retail innovation to support and inspire client initiatives.
The Future of Retail festival has been produced by the team at Retail Innovation Week(R), a spin-off division from research and strategy think-tank PSFK.