What will be Store of the future like?

I got down to thinking what will retail store of the future look like and started looking at various aspects. Retail as an industry is changing rapidly, and for good. The pace of change could not be faster than before. In just a decade, everything associated with Retail has been disrupted multiple times over. 

Just think about shopping, Payments, Merchandising, shoppers and how do they buy, where do they buy, what is their expectation, what type of different stores types have come up and so much more.

While internet and e-commerce have played a huge role in this transformation, Retail has gotten a complete makeover.

And when i go to conferences everyone is trying to paint a picture. Most of the times the intent is to bring their services in the context of that vision, so they can sell. Thats why when you join an interesting looking webinar or read a whitepaper at times, you are asking yourself is this about the vision or about a solution.

Taking a completely consumer centric view, here is my vision on what a retail store of the future will look like:

1. Experience Zones: Stores have long been seen as a place where customers will come, and make purchases. that changed. Growing up, we would go to malls and shopping areas and hang out. This still is true in lot of places. however, in mature countries the customers are no more hanging out in stores. Talking in USA context, the stores are typically really huge and still may not carry every last size in every color and variant. hence, people are shopping online. In the future, the trend will further solidify. In some of the segments of business where high value items are concerned, like furniture, stores will become more of experience zone. A customer walks in, can touch and feel the merchandise, experience it, get consulted and then the order is placed right from the store for it to be delivered to their home. Rest all of the items, be it grocery or other categories, will pretty much become a commodity and customers, atleast in younger segments will avoid walking into the stores.
2. Smart employees: The role of employees in the store will significantly change. With a lot of backend processes being managed by robots in the future, and self-serve type models, Store employee will need to go up the value chain. Instead of them flipping prices, or just trying to stock shelves, they would need to get good in the knowledge department, and really help customers coming in. In the future, it will be given that if someone is walking into the store, its sure is to buy something. Can the new age store employee help satisfy that customer and make that sale? there is a huge gap in this area today.
3. Stores extending as warehouses:  Brands with stores have a huge strategic advantage as they are much deeper ingrained with where their customers are. This will play a significant role in the future. Today there are a lot of limitations from technology standpoint to connect the online, sotres, warehouse channels. A lot of investment is already on in this direction. however, in the future, I envision that brands will have their IT roadmaps built out and being able to use their Stores like warehouse to reduce the time merchandise spends sitting in the store shelf or a warehouse. Today some market leaders are doing this very well, and stores are already acting like fulfillment centres.
4. More buy online pickup in stores
5. Shared spaces, Value driven footfall
6. Electronic displays, dynamics prices
7. Personalization & mobiles
8. Self-checkout