Retail: technology’s influence on future of commerce

By

Matthieu Guinebault

Published
Oct 13, 2014

The real estate consultancy firm Knight Frank has listed eight technologies that will greatly impact future city landscapes that could cause retailers to completely rethink their business.

In its Global Cities Report 2015, the firm lists eight technologies that will change the future of retailing. The report predicts, for example, the gradual disappearance of cashiers, who will be replaced by automated payment systems. 

The report also imagines stores serving more as showrooms, saving space on stock rooms to the benefit of more purely sales areas, with same-day home deliveries to be made by drones in record time.  

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Stores will also take on a more educational than commercial aspect, with numerous technical tools enabling customers to access all available information regarding products. Already widely used, the click ’n’ collect will become standard. 

The disappearance of mannequins? Absolutely, according to Knight Frank, which sees them replaced by digital screens that will target customers based on personalized information. 

Also in the cards: “smart changing rooms” with digital mirrors allowing clients to virtually change their looks. Body scanners will also become available to help customers choose outfits that correspond to their measurements.

The report also mentions driverless cars. With traffic data systems, the roadways will become far more free flowing. "This will allow more streets to be pedestrianized, improving public areas and passing trade for retailers.”