June 30 2021, 11:35 am | BY Ricki Green | No Comments Backslash, the cultural intelligence unit of TBWA\Worldwide, has today released its Future of Retail report, leveraging insight and expertise from its global network of culture spotters to unlock opportunities for disruptive growth in the retail sector. The second in its “Future Of” series, the report explores the most urgent questions facing retail businesses as they prepare for recovery.
Accelerated by the global pandemic, an e-commerce explosion is upon us with Nasdaq predicting that 95% of purchases will be made via e-commerce by 2040. But with 71% of consumers saying they still prefer to purchase from physical stores, a complete eradication of in-real-life retail may not be the answer. Nearly 40% of retailers are expanding or creating new in-store experiences, while 74% of consumers are expecting retail to adapt to their locality, seeing physical stores expanding their role.