From agile robots to micro-scale 3D printing to ultra-private smartphones, 2014 was full of technological breakthroughs. Once futuristic ideas, these technologies were quickly adopted by a mass consumer, thereby becoming milestones of technological progress. However, as 2014 is now history, it is time to take a peek into the future.
or ages, retail in its basic form has been reduced to three P's: people, products and places. However, since the appearance of the modern mail order service in 1861, people no longer had to be in the same location to shop. Still, the service failed to beat the convenience of buying from a local shop, which remains an unquestionable king of retail. But for how long? Ever-so-popular e-commerce may again threaten the position of a brick-and-mortar store.
As consumer shopping habits change at a breathtaking speed, retailers double their efforts to innovate beyond the walls of their bricks-and-mortar stores. A growing number of brands are not afraid of experimenting and re-imagining the physical store. These innovations gave rise to a concept store - a space where virtual and physical worlds meet.
Gamification has always been a successful tool to boost consumer engagement and loyalty. And while loyal clients with competitive personalities get a thrill out of virtual prizes that showcase their performance, the number of firms using this business tactic has been shrinking recently. Is the game over?
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