This is a preview of CB Insights' client-only report, The Store Of The Future: What Retail Could Look Like In 2030. Clients can check out the report here. To become a client and get access to this exclusive report, sign up here.
The year is 2030. What does the store of the future look like?
To unpack where the future of physical stores is headed, CB Insights visualized and analyzed how trends — from the rise of 5G connectivity and urbanization to increasing consumer expectations — will impact retail innovation in the years to come.
- The store of the future
- The 2030 in-store customer journey
- The emerging technologies and trends shaping the store of the future
- Experiential retail: Differentiating the in-store experience
- In-store third-party returns drive foot traffic
- Inventory visibility to serve online and offline shoppers
- Display technology collects shopper data
- Mobile technology engages in-store shoppers
- Customized manufacturing & in-store personalization
- Automated checkout eliminates payment friction
- Micro-fulfillment & tiny robotic warehouses
- Driverless vehicles automate last-mile delivery
Here are some of the Key Takeaways from the report The Store Of The Future: What Retail Could Look Like In 2030:
Tiny robotic warehouses could be the future of delivery.
- Given many retailers are doubling urban stores as fulfillment centers for online orders, we may see a future in which micro-fulfillment centers are integrated into brick-and-mortar stores themselves.
- Micro-fulfillment centers could become the future of vending machines, embedded in high-traffic locales like office parks, airports, and gyms — integrating with autonomous last-mile delivery vehicles and drones.
The future of retail is customized and on-demand.
- Across the consumer space, retailers, brands, and startups are exploring ways, particularly via 3D printing, to provide custom manufactured products at scale to customers.
- If executed successfully at scale, customized goods could be manufactured in-store for customers. This has the potential to reduce return rates, drive foot traffic, and offer a level of personalization yet to be realized by the vast majority of consumers.
Store experiences are evolving along functional and practical lines.
- Stores will need to develop in-store experiences that provide a concrete path to purchase for shoppers. In the future we may see retailers directly compete with trade schools to offer educational courses related to their product offers.
- We may also see retailers increasingly cater to the needs of their local clientele by offering in-store services for new moms, the elderly, or other demographics.
- Third-party brands will leverage excess floor space in stores to provide experiences to and connect with shoppers IRL.