Four Ps to dominate retail in 2020: Frost & Sullivan


January 19, 2020 | By RetailME Bureau

The retail industry will undergo massive changes as the age of disruption continues to impact consumer behaviours and buying trends, indicates research & consulting firm Frost & Sullivan offering a view into 2020.

“Every aspect of retail will be disrupted by evolving technology and demography. Looking ahead, one can expect the stores of tomorrow to be points of engagement, monotonous purchases to become fully automated, any touch-point or space to become a place of commerce, and for customers to always remember the experience,” said Murali Krishnan, senior industry analyst, Frost & Sullivan.

In this constant flux, retailers should understand and prepare strategies to retain customers and gain an edge over the competition through the four Ps:

  • Person: Generation Alpha as the new wave of “digital native” influencers and future customers
  • Place: Reinvention of physical retail as a point of engagement from a small box to a “novel” box
  • Points: Advent of new points of commerce such as in-vehicle commerce
  • Process: Advances in technology such as artificial intelligence (AI), automation and augmented reality (AR) / virtual reality (VR) disrupting the prevailing retail process

“Social commerce is gaining prominence with Instagram stories and online virtual stores finding strong foothold with the Gen Y and Z consumers. This signifies a major shift in the retailing model with major implications to the future of stores and virtual presence taking precedence over physical presence,” observed Archana Vidyasekar, global research director, Frost & Sullivan.

Comments

comments

Previous Article Next Article

SHARE

YOU MAY ALSO LIKE /


Lulu Group partners with Amazon expanding grocery offerings to online customers in the UAE

Abu Dhabi based grocery retail chain Lulu Group has partnered with Amazon 

Continue Reading

November 24, 2022 | By RetailME Bureau
Food Tech Valley partners with Tradeling to boost UAE’s food ecosystem

UAE-government-led initiative Food Tech Valley – announced in 2021 by His Highness 

Continue Reading

November 17, 2022 | By RetailME Bureau
Lulu Hypermarket to open in The Dubai Mall in 2023

Abu Dhabi-based supermarket chain Lulu Hypermarket is all set to open in 

Continue Reading

November 10, 2022 | By Rupkatha B
Beyond Meat’s Q3 2022 results “disappointing”

Plant-based meat brand Beyond Meat’s financial results for the third quarter of 

Continue Reading

November 10, 2022 | By RetailME Bureau
Barakat unveils new biodegradable packaging

UAE’s fresh produce brand Barakat has launched bio-degradable packaging across its entire 

Continue Reading

October 27, 2022 | By RetailME Bureau
Pure Harvest CEO Sky Kurtz

UAE-based agritech start-up Pure Harvest Smart Farms has signed a Memorandum of 

Continue Reading

October 27, 2022 | By RetailME Bureau
Carrefour signed up as anchor tenant for Midtown Project

Carrefour, owned and operated by Majid Al Futtaim – Retail in the 

Continue Reading

October 27, 2022 | By RetailME Bureau
Grandiose Supermarket announces country-wide expansion plans

Grandiose Supermarket, part of Ghassan Aboud Group, has announced expansion plan in 

Continue Reading

October 26, 2022 | By Rupkatha B
100 years of Valrhona

The Valrhona journey began 100 years ago with a cocoa bean. Since 

Continue Reading

October 24, 2022 | By Justina Eitzinger
On-demand grocery delivery in 15 mins

Deliveroo UAE has announced the expansion of its rapid grocery delivery service 

Continue Reading

October 24, 2022 | By RetailME Bureau
Mariam bint Mohammed Almheiri, Minister of Climate Change and Environment

The Ministry of Climate Change and Environment (MOCCAE) revealed that the UAE 

Continue Reading

October 17, 2022 | By RetailME Bureau

Abu Dhabi-based leading supermarket chain Lulu Group has appointed investment bankers Moelis 

Continue Reading

October 13, 2022 | By RetailME Bureau




f
Download Images RetailME Magazine