For years now, retail has been in meltdown. The combination of online shopping, dominated by companies who don’t necessarily need to make a profit, has challenged every retailer in the world to be smarter and more innovative. They haven’t always risen to the challenge, relying instead on age-old habits of competing with their neighbours, cost-cutting and sales.
But at the same time, new technologies have given retailers the means of knowing more about their customers than ever. How much benefit could this bring? What are the breakthrough learnings about customer behaviour? In the context of the pandemic and an economic downturn, where do the opportunities in retail lie?
Jens Nordfalt’s research has been digging deep into understanding how customers really think and behave, as well as examining the potential for emerging in-store technologies. With Margaret Heffernan, he’ll be exploring where the future of retail might lie.