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Feel-good tech to bring the magic back to retail, finds TBWA\ Future of Retail report
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The Roaring 20s Usher In Retail s Big Reset
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TBWA report tables how the retail industry can survive beyond COVID
June 30, 2021 11:01
TBWA\Worldwide’s cultural intelligence unit, Backslash, has released a report on the future of the global retail sector, highlighting how to unlock opportunities in the COVID-disrupted industry.
The report is the second in Backlash’s ‘Future Of’ series, with the latest report exploring the the most urgent questions facing retail businesses, after the industry saw an accelerated shift towards e-commerce during the pandemic.
Renata Yannoulis, a strategist at TBWA\Sydney, who contributed to the report said: “As we enter the next roaring ‘20s era, the retail industry is being forced swiftly into its next iteration. Sharp pivots are required for brands to meet the new consumer mindset, that continue to shift at a faster pace than ever before.”
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.