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Wednesday, December 1, 2021

Chart: Layout and purpose of physical retail transformation

The shift to online purchases may prompt physical retail stores around the world to devote one-third of their space to online fulfillment.

This is according to Edge of Ascential, a British research and consulting company. Its “retail insight” service provides global retailers with market data and analysis based on 2 million data points and 40 economic indicators in each country.

according to For retail insights, by 2023, 34.8% of global “chain retail” sales will come from online, rising from 30.8% in 2021 to 37.7% in 2025. This shift will change the purpose and layout of physical stores, Edge by Ascential predicts.

The pandemic has accelerated the adoption of digital retail. Estimates vary by magnitude. In any case, brick-and-mortar retailers who used their stores to complete orders before Covid took advantage.

This trend—ordering online via local pickup or delivery—may accelerate. The effect will be a reorganization of the physical retail layout, and a large amount of store space will be repositioned for online fulfillment.

According to Retail Insight, this transformation will affect all consumer categories.

Future Store

Ascential’s Retail Insight data from Edge shows that brick-and-mortar retailers will adjust their store settings and strategies to remain competitive in the post-Covid world. In the future, stores will focus on accommodating online consumers and become physical portals for brand and product experience. Shoppers can socialize and experience products while using digital touchpoints (such as mobile phones and social media).

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