Backslash, the cultural intelligence unit of TBWAWorldwide, has today released its way forward for the Retail report, leveraging insight and expertise from its global network of culture spotters to unlock opportunities for disruptive growth within the retail sector. The second in its “Future Of” series, the report explores the foremost urgent questions facing retail businesses as they steel themselves against recovery.

 Accelerated by the worldwide pandemic, an e-commerce explosion is upon us with Nasdaq predicting that 95% of purchases are going to be made via e-commerce by 2040. But with 71% of consumers saying they still like better to purchase from physical stores (source: Kearney), an entire eradication of in-real-life retail might not be the solution. Nearly 40% of shops are expanding or creating new in-store experiences, while 74% of consumers expect retailers to adapt to their locality, seeing physical stores expanding their role (source: Stylus).

 Chief strategy officer, Agathe Guerrier, TBWAWorldwide notes “We believe a replacement chapter of retail is upon us. As we reckon with the impact of excess and thoughtless convenience, retailers have the chance to carve out a far better way forward. It’s an exciting time.”

 The report leverages cultural intelligence to unlock four opportunities for disruptive growth in retail and descriptions specific ways for brands to require action — by addressing the lifecycle of retail, adoption of the latest technology, or disrupting the normal buyer-to-seller relationship.

 The four opportunities are as follows.

 1. Flex Retail: a replacement era of retail requires physical spaces that serve a purpose beyond shopping. The stores of the longer term will revitalize cities, uplift local communities, and promote circularity.

 2. Retail’s Tech Tightrope: Next-gen retail technology will work behind the scenes to enable a seamless shopping experience. Companies can chooses a much meaningful way forward through intelligent ordering, sensory stores and phantom tech.

 3. Networked Commerce: To survive increasingly communal commerce, brands will be got to make everyone in their network a lively player. Tomorrow’s retailers will strengthen relationships by engaging in direct dialogue, pivoting from influencers to educators.

 4. Lifecycle Luxury: A richer quiet luxury will put product life cycles in the center focus. Looking forward, upscale eco-materials, authenticity trackers, and functionality will define the new premium.

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