KUALA LUMPUR, Oct 8 (Bernama) -- Global market research company Euromonitor International conceptualises the future of brick-and-mortar retail in a free virtual event, Commerce 2040: The Future of the Store in a Digital World, on Oct 14.
E-commerce drove 75 per cent of the US$3 trillion growth in global retail sales over the past decade, according to Euromonitor in a statement. (US$1 = RM4.180)
This digital transformation is forcing retailers to redefine the use of traditional stores to enable immersive, personalised and optimised shopping environments.
More than 50 per cent of global consumers shop in stores that create engaging experiences, according to Euromonitor’s Voice of the Consumer: Lifestyles Survey 2021.
“Stores will evolve from a place where products are sold to a stage for branded experiences, and these unique engagements could generate revenue,” says senior head of global digital consumer research at Euromonitor International, Michelle Evans.
“Retailers looking to tap into this revenue stream need to create a playground-like atmosphere, assuring the experience matches the price tag.”
The two-hour event features a panel of top executives from The Coca-Cola Company, Publicis Communications and Mitchell Gold + Bob Williams who will discuss the technologies that are fostering innovative store concepts and business models.
Attendees will get a first look at new illustrations that depict brick-and-mortar outlets in 2040 during Evans’ keynote address. Euromonitor experts will also reveal the drivers of retail revolution in North America, Latin America and Asia Pacific.
-- BERNAMA
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