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The future of retail:

using scenario planning to
explore the possibilities

What’s in store for your store?


Today, 60% of shopping is digitally influenced. A wave of digital disruption began with online shopping, smart devices and apps. But this is just the beginning. Technological advancements like virtual and augmented reality, drones and 3D printing promise a complete transformation of shopping as we know it. But what might that transformation look like?

 

We created a report that uses scenario planning to try to answer this question. Scenario planning is a way of preparing for an uncertain future, that works by challenging assumptions and generating multiple plausible views of what it may hold.

 

The exercise was inspired by retail knowledge gathered from interviews, research and data-driven insights. It began with one question: what will shopping be like in years to come? From there we identified and validated top trends and drivers and imagined how they might play out to arrive at each Retail Future.

 

digital, retail, instore, shopping, insight
shopping, trends, insight, knowledge

“Far from being obsolete, brick-and-mortar experiences will evolve to take shopper expectations to new heights, earning an even bigger place in their hearts.”

 

Parik Chopra, Business Segment Leader, 
Retail & Hospitality, Philips Lighting

Four future retail scenarios


The report describes four future retail scenarios in detail and dives into their defining trends. Fun, immersive and sensory, each scenario is unlike anything we know today.

 

local shopping, community, hub, high street

It’s local: a vibrant hub for the community  


High street shops source and stock local goods, are run by familiar friendly faces that share a rapport with—and are co-owned by—the community.

 

experiential retail, customer loyalty, shopper lifestyle

It’s experiential: big brands create big experiences


Brands inspire customer loyalty and data exchange by personalizing in-store experiences based on customer lifestyles and providing rewards, drawing them offline.
smart homes, convenience, routine, purchase

It’s automated: convenience comes first in smart homes  


Day-to-day purchases become effortless as smart services throughout your home track, predict and top up your daily basics. It’s automated, smart and simple.
personalized, shopping, marketplace, consumer

It’s personalized: a designermaker-dominated marketplace  


Microentrepreneurs co-create with consumers, makers and brands in virtual maker studios to fill microniches and create uniquely personalized products.

Realize your retail future


When you have a vision, you need the tools to bring it to life. Philips Lighting can help you to use smart lighting to do just that.

 

Starting with your façade, attract shoppers with LED lighting and signage that expresses your unique brand identity, whatever it is. Use luminous glow effects, patterns and projections to mark your store as a destination. Inside, you create exciting and dynamic displays by adjusting lighting zones and layouts instantly. Change the mood each season and to showcase featured products.

 

Take the in-store experience to the next level with Philips Indoor positioning. Shoppers’ smartphones can guide them to what they want to buy using location data from LED lighting, showing them the latest offers so they can shop more efficiently—at the best price. By introducing smartphone apps, you can profile and study customers to better understand their in-store habits to deliver a relevant customized experience.

retail future, digital trends, customer insight
retail future, digital trends, customer insight

And that’s just scratching the surface of how smart lighting can transform your business. To learn how we can help you keep produce fresher for longer, make your store greener, and build loyalty through light, download the report to see how we’re transforming shopping and what it could mean for your retail future.

 

Complete your details now to download our “Future of Retail” report.

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If you have any questions, ideas or inquiries as to how this application could work in your retail environment, get in touch.
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