Life in 2030: Retail in the Butterfly Scenario
Life in 2030: Retail in the Butterfly Scenario
#galeriresim,baslik#
Kali June FaulwetterContent Editor
Digital Maturity, Retail

Life in 2030: Retail in the Butterfly Scenario

March 30, 2021 - 3 min

What will life be like in 2030? What will be the state of digital innovation? Will it be a world where we, as customers, are fully conscious and especially careful of what we consume and spend our money on to ensure the greater good of humanity and society. Let's find out by consulting Linda, our fictional character who allows us to gaze into the future!

Imagine a world where we don't prefer to go out and we do most of our duties online. Not far from reality these days, eh? The impact on retail and hospitality industries would be, and has been, tremendous. The benefits for the e-commerce and last mile delivery sectors would be enormous. This is the scenario where consumer power meets the triumph of the tech giants; where nearly everything is conducted online.

Why would something like this happen?

As the tech giants had overtake their traditional brick and mortar competitors, the number of physical stores seen around the neighborhood substantially decreases. Tech giants continue to spoil their customers with a large number of SKUs, mostly personalised according to consumer will. Online shopping experiences reach peak levels, leading to amnesia – consumers are asking themselves, "what was physical shopping like, again?"

The climate oscillates between always-hot and ultra-cold with stormy, bi-polar weather conditions. Supported by hit-and-run pandemics, people become afraid to leave their homes; forcing them to lean on online shopping. Brand loyalty becomes a phenomenon of yester-decade. There is a concept of "now", which feeds the cheapest, most personalised, and immediately deliverable product concept.

Economies around the world are all reporting "stagnant"; with consumer buying power diminishing day by day.

Linda in The Butterfly Scenario:

  • Linda's 14th birthday in 2019 was her first to be celebrated entirely indoors. She had been isolated into one room in the house. She had plenty of fresh air, plant-life, even a governmentally issued domesticated animal of her choice as the pandemic only affected humans. The past year had shown to be world-changing. A virus broke out across the globe, classified as a pandemic, and as much as the world tried to contain it, they simply could not.
  • Humans were quarantined in their homes on a social-distancing order due to the pandemic– it was not wise to get closer than one meter to any human in public whom you were not living with. This did not prevent people from having close relationships and a life they preferred, however. With the increased need for digitization and technology, humans conducted their social life almost entirely online. Robotic delivery provided all goods and services as needed.
  • As a fitness coach, Linda loved to inspire people to be the healthiest they could be, all from the comfort of their home; online. She became quite successful with her work, partnering with several online-retail companies offering discount codes for health and fitness goods, and those retailers offering discount codes for her fitness classes in return.
  • Depression and anxiety rates in humans fell to an all-time low. More and more retailers saw an opportunity to partner with at home workers, increasing revenue to the retail market even further.

 

Our Digital Destiny

We have experienced an unprecedented shut-down and lock-down due to the COVID-19 pandemic. Many people are using e-commerce for the first time in their lives. Many people are working from home and using video conferencing tools for the first time. Some industries have been severely affected, while others continue to benefit from the shift toward digital channels. If you work in retail, you understand just how broad the industry really is. From groceries to home supplies, electronics to fashion boutiques, our streets are full of colorful shops. Since Amazon, eBay, and later with the introduction of smartphones, the shop is right in our palms.

This decade will be a crucial one for retailers. Combined with external factors such as the pandemic, climate change, economic crisis, the expectation of the consumer will steadily grow and put pressure on anybody trying to get their spending attention.

Overwhelmed? We can understand that. With our Digital Maturity Index, you can know the digital maturity score of your organization and understand where you are, where to go, and how to get there.

Download our report: 👉 Digital Future Scenarios: Retail in 2030

 

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