The Store of the Future Showcases ‘Contextual Shopping’ Experiences

As Internet of Things technologies offer the promise of a more connected retail experience, how consumers and brands interface with one another will also change shopping. According to a report by Euromonitor International, titled, “Commerce 2040: Revolutionary Tech Will Boost Consumer Engagement,” the relationship between brands and shoppers will move from being transactional to one that encompasses interactions before, during and after the purchase. “Societal shifts are often driven by a handful of factors, such as new population patterns or evolving consumer values,” said Michelle Evans, global head of digital consumer research at Euromonitor and author of the report. “Technology, in particular, emerged as one of the key drivers in the last decade reshaping the world and will likely continue as one of the most important factors creating future upheavals. Fast forward 20 years and the world, and commerce conducted within it will be noticeably different than today.” Evans said the home, “the hub for family life,” will be even more connected and automated while entertainment venues will be driven by the ubiquitous influence of social media. For physical retail stores, the landscape will be vastly different than how it looks today. “Convenience stores will likely be the only outlets with inventory,” Evan stated

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