Welcome, everyone. My name is Olivia Smith and I work as an assistant at the Modern Retail Association. Today I want to give a speech to you students who are studying retail-marketing and management here at the University of California.
This speech will contain for the future of retail, the current challenges for the retail industry and how retailers can survive and thrive in the future.
So, today I will present all my analysis on the future of retail and at the end, you can ask me if you have any questions.
One aspect which will change is the delivery system, with purchases soon being delivered in less than one day. With the help of drones, they might even be delivered in just 30 minutes. Retail will also be influenced by the internet of things.
In the future, it is also likely that people will no longer need to carry their shopping bags, with shops offering to deliver purchases directly to the consumers’ homes after they have tried on purchased them in the physical store.
Digital dressing rooms are also likely to become a norm along with other personalized services such as themed events and interactive experiences for shoppers.
Robot costumer service might become the norm, with many parts of the shopping process being automatized. Robots might eventually replace human sales staff entirely.