STORES Magazine - January 2018 - 25

©ISTOCKPHOTO.COM/PIXELFIT

Many consumers now use stores for "touch and
feel" or experiences but do much of their research
and price-comparison shopping online. It's not out
of the question that some retailers could close even
more stores in the coming years.
"I think over the next 10 years, stores will
really need to be reinvented much more closely
to the expectations of the modern shopper,"
Gregory says.
THE STORE OF THE FUTURE
Over the coming years, Maloney believes retail
increasingly will be driven by customer experience
and technology. More "commodity-type products"
will be fulfilled via home-delivery and click-andcollect models; bricks-and-mortar stores will need
to refine their relevance with experiences that
consumers can't find in the digital world.
While this disruption is not affecting the
industry at the top level, Cohen says it is affecting
retail at the store level. He says certain subsectors
of the retail industry will continue to face great
challenges and disruption in the coming years as
they aim to refine their store experiences while
facing growing online competition. Now that
consumers can shop anywhere from the comfort of
their homes, every retailer is in competition with
the world.
"Twenty years ago, the marketplace was in
charge," Cohen says. "Today, the consumer is
completely in charge."
A number of characteristics are required for a
successful reinvention, according to PlanetRetail
RNG's 2017 "Store of the Future" report. Stores
will have to move away from the traditional roles
STORES.ORG

of offering product range, price and proximity to
more experiential roles that can't be replicated by
a low-cost online player. Creating a frictionless
experience also will be essential, and Gregory
says stores will need to optimize things like
click-and-collect, in-store digital engagement and
rapid fulfillment.
The Internet is not going to wipe out
bricks-and-mortar, Cohen says, but it will
continually take away market share in some
categories. Online players will experiment in the
physical world, though he sees few opening stores
en masse as the country's excess retail square
footage continues to decline.
"There will be Internet players that choose to go
physical, with good reason," he says, "but they're
not going to open up 800 stores."
Many believe the next level of disruption could
come from augmented reality. Cohen says it won't
be very long before consumers have greater access
to more headsets and virtual-reality platforms,
further bringing some traditional in-store
experiences to digital. That will only blur the
channel lines further, he says, as consumers will be
able to "walk the store" and "experience" products
from their own home.
"The 'store' will soon be in their home," Cohen
says. "They'll walk a virtual store, reach for a product
... pick it up and take a look. The technology is
already here. It just hasn't become ubiquitous, but
it will."

It's difficult to
justify saying
Amazon is
killing off
bricks-and-mortar
when e-tailers
are establishing
physical footprints
and the top
10 ecommerce
players are
multichannel
retailers.

Craig Guillot is based in New Orleans and writes about retail,
real estate, business and personal finance. Read more of his
work at www.craigdguillot.com.
STORES January 2018 25


http://www.ISTOCKPHOTO.COM/PIXELFIT http://www.craigdguillot.com http://www.STORES.ORG

Table of Contents for the Digital Edition of STORES Magazine - January 2018

Editor’s Page
President’s Page
Retail Politics
NRF News
TRENDS
Retail People
Disruption Is the New Normal in Retail
20 Ideas Worth Stealing
Drug Store Cowboy
C2W
TECHNOLOGY
WORKFORCE MANAGEMENT
OMNICHANNEL
AI
MARKETING
FINANCE
BUSINESS OPERATIONS
STARTUP SPOTLIGHT
SECURITY
HUMAN RESOURCES
POV
Communities
End Cap
STORES Magazine - January 2018 - intro
STORES Magazine - January 2018 - cover1
STORES Magazine - January 2018 - cover2
STORES Magazine - January 2018 - 3
STORES Magazine - January 2018 - 4
STORES Magazine - January 2018 - 5
STORES Magazine - January 2018 - Editor’s Page
STORES Magazine - January 2018 - 7
STORES Magazine - January 2018 - President’s Page
STORES Magazine - January 2018 - 9
STORES Magazine - January 2018 - 10
STORES Magazine - January 2018 - 11
STORES Magazine - January 2018 - Retail Politics
STORES Magazine - January 2018 - NRF News
STORES Magazine - January 2018 - TRENDS
STORES Magazine - January 2018 - 15
STORES Magazine - January 2018 - 16
STORES Magazine - January 2018 - 17
STORES Magazine - January 2018 - 18
STORES Magazine - January 2018 - 19
STORES Magazine - January 2018 - Retail People
STORES Magazine - January 2018 - 21
STORES Magazine - January 2018 - Disruption Is the New Normal in Retail
STORES Magazine - January 2018 - 23
STORES Magazine - January 2018 - 24
STORES Magazine - January 2018 - 25
STORES Magazine - January 2018 - 20 Ideas Worth Stealing
STORES Magazine - January 2018 - 27
STORES Magazine - January 2018 - 28
STORES Magazine - January 2018 - 29
STORES Magazine - January 2018 - 30
STORES Magazine - January 2018 - 31
STORES Magazine - January 2018 - 32
STORES Magazine - January 2018 - 33
STORES Magazine - January 2018 - 34
STORES Magazine - January 2018 - 35
STORES Magazine - January 2018 - Drug Store Cowboy
STORES Magazine - January 2018 - 37
STORES Magazine - January 2018 - 38
STORES Magazine - January 2018 - 39
STORES Magazine - January 2018 - C2W
STORES Magazine - January 2018 - TECHNOLOGY
STORES Magazine - January 2018 - 42
STORES Magazine - January 2018 - 43
STORES Magazine - January 2018 - WORKFORCE MANAGEMENT
STORES Magazine - January 2018 - 45
STORES Magazine - January 2018 - OMNICHANNEL
STORES Magazine - January 2018 - 47
STORES Magazine - January 2018 - AI
STORES Magazine - January 2018 - 49
STORES Magazine - January 2018 - MARKETING
STORES Magazine - January 2018 - 51
STORES Magazine - January 2018 - FINANCE
STORES Magazine - January 2018 - 53
STORES Magazine - January 2018 - BUSINESS OPERATIONS
STORES Magazine - January 2018 - 55
STORES Magazine - January 2018 - STARTUP SPOTLIGHT
STORES Magazine - January 2018 - 57
STORES Magazine - January 2018 - SECURITY
STORES Magazine - January 2018 - 59
STORES Magazine - January 2018 - 60
STORES Magazine - January 2018 - HUMAN RESOURCES
STORES Magazine - January 2018 - 62
STORES Magazine - January 2018 - 63
STORES Magazine - January 2018 - POV
STORES Magazine - January 2018 - Communities
STORES Magazine - January 2018 - End Cap
STORES Magazine - January 2018 - cover3
STORES Magazine - January 2018 - cover4
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