Trends 2019: Omnichannel Tools Lead Store of the Future

In the answers to a set of questions that look at technology today and in the future, it’s clear there is an excitement around retail, with visions of a “store of the future” that includes interactive displays, voice-based shopping platforms and use of augmented reality. However, when estimating the “practical value” of these tools in the coming year, respondents in the survey expressed great caution.When asked which tools will become established parts of the “store of the future,” 77% of respondents said interactive displays and just shy of 70% said in-store access to offline buying. The two answers represent a view of a truly omnichannel shopping experience. “We are very enthusiastic about technology and shoppers are helping us refine and define the technologies that work best for retail,” says Curt Munk, EVP, group strategic planning director, FCB/RED. “Omnichannel technologies have been with us for some time and they continue to get better and better — we love what Walmart and Sam’s Club are doing.”Munk notes that with some technology like voice-based shopping that has seen some disappointing reports, marketers need to exhibit patience and get comfortable with the technology. “Technology is a tool, not a strategy,” he says.Respondents in the survey showed optimism in both voice-based messaging and AR, nearly 60% of respondents saw both tools being a standard part of retail in the future. Conversely, when asked which trends will provide the most practical value in the coming year, only 2% of respondents picked voice-enabled commerce and only 5% saw AR or virtual reality providing value now. In addition, artificial intelligence saw little support, with only 6% seeing it provide value in the coming year.Leading the way, nearly a third of respondents said influencer marketing would provide the most practical value. Munk says that’s simply the “reality of access to technology.” He adds: “Influencers are popular short-term because they are an existing consumer and shopper behavior, so the adoption curve is already well established compared to AI, AR, voice and subscriptions.”In a question asking what trends or topics would provide the “least practical value,” a third of respondents said AR and VR, and 17% pegged AI.If not practical in the short term, it doesn’t mean CPGs aren’t looking to innovate. Looking closer at what organizations are doing to address product innovation, 52% of respondents said they’re both increasing their existing internal activity around innovation and also launching new capabilities such as innovation centers of excellence and idea labs. When isolating a view from the top, 61% of those at a senior executive or director level said their organizations would increase internal activity and 55% said launch new COEs or labs.The increased focus on innovation is bright for the industry but as Munk notes, “innovation has to be intentional, supported, measured and rewarded for it to take hold in almost any organization. It is hard to do, but each organization has to find its own cadence for new ideas.”

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