Commerce 2040: A Regional Exploration of the Future Retail Store

October 2021

Euromonitor International’s Commerce 2040 series outlines a vision for how consumers might shop in two decades. This report focues on how retail is evolving and considers the competing forces that will influence how shopping behaviour both online and in store will evolve in the years to come. By depicting this long-term view, companies can take meaningful action today to adapt to the changing retail landscape in the digital era.

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Key Findings

Commerce 2040 explores how commerce might evolve in the future

This Commerce 2040 series explores how new technologies will continue to change the world and focuses on the impact these shifts will have on the future of commerce, both in terms of how it might evolve and what avenues might emerge.

How retail has - and has not - changed

While the retail industry is amid radical shifts, the principles for conducting business have not changed, even in the digital era. Nonetheless, the extent to which digital elevates consumer expectations is - and will continue - changing.

Technological shifts place greater emphasis on the consumer experience

The evolution of the shopping journey is one of the most pervasive trends reinventing retail today. While purchases in the past were transactional in nature, now shopping is a journey, where the purpose is not just about buying, but also relationship building.

Competing forces converge to reshape tomorrow’s retail landscape

There are several competing forces at play that taken together will dictate how the retail industry evolves. These competing forces range from the role of humans versus bots in the commerce experience to whether consumers shop online versus in store to shifting power dynamics between retailers and brands.

The future of retail is likely to take slightly different forms as a result of local and category specific nuances

How these competing forces take shape and where specific countries, companies and consumers land on the continuum will reshape the industry. In most cases, there is no right or wrong answer. The question relies on where the retailer or brand sees itself on the continuum and if that aligns with its consumer base

Scope
Key findings
Commerce 2040 series explores how commerce might evolve in the next 20 years
The traditional neighbourhood might be in vogue again following tech infusion
How the neighbourhood of the future might look in 2040
Euromonitor International’s virtual event brings Commerce 2040 to life
Asia Pacific and Australasia leads the global retail landscape
How 10 competing forces are reshaping the future of retail in Asia Pacific and Australasia
How 10 competing forces are reshaping the future of retail in Asia Pacific and Australasia
Key themes likely to characterise the store of the future in Asia Pacific and Australasia
Seamlessness: region characterised by high population density and digitally savvy consumers
Seamlessness: mobile payment tools are the starting point of seamless consumer journey
Seamlessness: traditional grocery retailing is most likely to be disrupted
Decathlon Singapore launching mobile app to digitalise and enhance in-store experience
Modernisation of kirana stores in India to provide a seamless shopping experience
Outlook
Key takeaways: the future of stores in Asia Pacific and Australasia
Retailing in Eastern Europe is shifting from traditional to modern store-based channels
How 10 competing forces are reshaping the future of retail in Eastern Europe
How 10 competing forces are reshaping the future of retail in Eastern Europe
Key themes likely to characterise the store of the future in Eastern Europe
Personalisation: retailers must prioritise privacy while delivering personalised experiences
Personalisation: digitalisation and emerging technologies create new opportunities
Personalisation: shaping the new shopping experience in Eastern Europe
Case study: Zabka develops an AI-enabled loyalty app to offer more personalised services
Case study: makeup Kitchen is the first lab that creates personalised beauty products
Outlook
Key takeaways: the future of the store in Eastern Europe
Retailing in Latin America remains a highly fragmented channel that strives to modernise
How 10 competing forces are reshaping the future of retail in Latin America
How 10 competing forces are reshaping the future of retail in Latin America
Key themes likely to characterise the store of the future in Latin America
Sustainable: legislation forces companies to work towards sustainable actions
Sustainable: countries look to transition from linear to circular economy
Sustainable: retailers look to increase and scale sustainable solutions
Algramo’s bulk buying service encourages circular economy in modern grocery
Grupo Éxito leads innovation by incorporating green and digital solutions
Outlook
Key takeaways: the future of the store in Latin America
Despite tech prowess, stores remain key fabric of the North American retail landscape
How 10 competing forces are reshaping the future of retail in North America
How 10 competing forces are reshaping the future of retail in North America
Key themes likely to characterise the store of the future in North America
Convenience: the lure of instant gratification brings North American consumers to stores
Convenience: in North America, convenience goes together with mobility
Convenience: value is the one thing that North Americans refuse to sacrifice for convenience
Case study: target profits by expanding kerbside pick-up service
Case study: foxtrot pioneers premium convenience store concept
Outlook for convenience in North America
Key takeaways: the future of the store in North America
The state of retail in the Middle East and Africa
How 10 competing forces are reshaping the future of retail in Middle East and Africa
How 10 competing forces are reshaping the future of retail in Middle East and Africa
Key themes likely to characterise the store of the future in Middle East and Africa
Experiential: experiences highly relevant to cultivate meaningful interactions
Experiential: key elements driving experiential retail in Middle East and Africa
Experiential: investing in experiential stores to be at the core of an omnichannel strategy
Adidas integrates tech and non-tech features to offer a smart and engaged retail experience
Carrefour launches region’s first self-service store powered by AI
Outlook
Key takeaways: the future of the store in the Middle East and Africa
Changing consumer traits impact retailing in Western Europe
How 10 competing forces are reshaping the future of retail in Western Europe
How 10 competing forces are reshaping the future of retail in Western Europe
Key themes likely to characterise the store of the future in Western Europe
Sustainable: governments reinforce sustainability
Sustainable: c onsumers are increasingly attracted to circular business models
Sustainability: circular economy will have an impact on physical retail
Rewe Group explores urban farming in sustainability push in Germany
Green Pea concept is positioned as the sustainable retail park of the future
Outlook
Key takeaways: the future of the store in Western Europe

Appendix

About Euromonitor International’s Syndicated Channel Research
About Euromonitor’s Consulting Innovation Practice
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