E-commerce has begun shifting offline – with many online retailers setting up physical stores, who already have a successful online presence. However, a visible pattern that speaks of a liminal space suggests that retail’s ‘only digital’ future might be in limbo. Nevertheless, E-commerce has been a positive step in capping an ever-growing demand for land, especially in urban areas. However, this recent shift for an urge to have a hybrid presence—promoting smart commerce—indicates less visible factors underpinning this, which requires more unpacking. 

The retail landscape in India and other regions is poised for a transformation as brick-and-mortar stores and online shopping channels come together to offer customers a seamless shopping experience. The future of retail is expected to be a mix of online and offline shopping experiences, where customers can shop through digital channels and physical stores. The growing popularity of online shopping has given consumers the convenience of shopping from the comfort of their homes. Yet physical stores remain significant in the retail industry, particularly for providing touch-and-feel experiences and instant gratification. Design Forum International, which is accredited for designing cutting-edge retail spaces such as Select City Walk (Delhi), AIPL Joy Street (Gurugram), and Joy Gallery (Gurugram), predicts that artificial intelligence-powered retail will be a major trend in the near future.

Retailers will therefore be looking to implement omnichannel strategies that seamlessly integrate physical and digital channels, such as click-and-collect, where customers can purchase items online and collect them in-store or through the assistance of store associates using mobile devices. Furthermore, the adoption of technologies such as artificial intelligence, machine learning, and data analytics is expected to rise in the retail industry, enabling retailers to personalise customer experiences and optimise their operations. Technology-enabled stores will become more common in the future, offering customers a convenient and seamless shopping experience. As a result, retail establishments must incorporate these innovative technologies into their overall design and concept to remain competitive in the ever-evolving retail industry. Some of the key trends that are expected to impact the future of retail industry in India are summarised below:

  • E-commerce: E-commerce is expected to proliferate in India, driven by increasing internet and smartphone penetration, improving logistics infrastructure, and rising consumer trust in online shopping.
  • Omnichannel retail: Retailers in India are increasingly adopting omnichannel retail strategies, which allow them to seamlessly integrate online and offline shopping experiences for customers.
  • Technology adoption: AI-enabled technology is expected to become more widespread in the Indian retail industry, helping retailers to understand customer preferences  better and make informed business decisions.
  • Increased focus on sustainability: As consumers become environmentally conscious, the retail industry will focus more on using eco-friendly materials and implementing more environmentally responsible practices.

Overall, the retail industry in India is likely to continue to evolve and grow in the coming years, driven by technological advancements, changing consumer preferences, and the increasing importance of sustainability.

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Views expressed above are the author's own.

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