There have been lot of predictions how online (specifically Amazon and Alibaba) will slowly eat all its offline competitors. US offline retailers have borne the maximum brunt, and most of them are in various stages of proceeding towards huge store closures. This change might lead to bankruptcy for a couple of them but it is an exciting time for the consumer as they are seeing real innovation in the retail space after probably half a century. For a long time retail has been struck in incremental changes with people fixed on changing merchandise or the lighting of the stores.

With the current threat to the retail offline space, it is bubbling with experimentation which shows exciting times for consumers. With dwindling sales and more store closures on anvil retailers are forced to think beyond cost and the often tried mantra “big is better.” Retailers especially in US are now realizing the value of smaller stores, which in time to come will double up as pick-up points for their omni-channel sales.

China and US are becoming the hotbed for this experimentation and the smaller and smart retailers are leading it. Few of the trends which will definitely shape the future are:

Cashless checkout counters: It is not just Amazon and Alibaba who have tested this concept. A small cooperative store in New York has now got 20% of the traffic flowing from the cashless counters.

Supply Chain Transparency: “Ultimately, consumers are more informed and are more passionate about food then they have been before, and are demanding transparency across the entire food supply chain. They care about how their food is raised and grown.” – Brand Footprint 2017. Companies like Everlane are letting consumers know exactly where the product has been sourced from through the entire value chain. With the talk of incorporation of blockchain to track the supply chain this will be one area to definitely watch for.

Stores as experiential centers: Consumers will come to the store for a different experience rather than just buying. Already some stores are augmenting their wares by innovative practices. KaDeWe, a heritage US department store has devoted one floor to an “Idea Shop” where people can express their creativity and imagination through arts and craft experiences. Along with displays of a seasonal selection of the latest trends in textiles, handicraft, jewelry, art material, home decorating and stationery, customers are invited to make things themselves with craft materials. “It’s a place where people can meet people and make ‘store friends.’

Stores doubling up as pick-up points: This one is a no-brainer really, in theory this makes tremendous sense as with minimal increase in work-force and an already available space you could make your store the focal point of your online channel. This also gives you the opportunity to entice the customer into buying things he might have forgotten and eventually lure him to the store.