Why a Retail Revolution Could Put Many Out of Business

For shoppers around the world it's no longer enough for a retailer to carry an array of sizes and colors, now, it's about the 'buying experience.' Ford Motor's Futurist Sheryl Connelly said, 'As the adage goes, in life, the journey is more important than the destination. Increasingly that's becoming true in retail.' Ford's 2016 Global Trend Report found 81 percent of European shoppers say they are prepared to pay more for a better in-store experience. And, here in the U.S., 48 percent of respondents said they will buy more from a retailer who personalizes their shopping experience. 'We all have a lot of stuff, but not everything that we own means something to us and today we want consumption to be elevated to some sort of higher order. We want it to be connected to us in a personal and meaningful way. Some brands accomplish that very well by giving us a rich experience when we go to buy something.' In Brazil, Russia and China, over one-third of shoppers said interesting product showcases are the key factor in their store shopping experience.