Retail 2040: The Evolution of Consumer Expectations

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Photo from Canva

By Euromonitor

Evolving consumer expectations and new competitive realities are changing how and where consumers browse and buy. Purchases in the past were transactional. Now, shopping is a journey about relationship building.

The ideal journey provides value before, during and after the purchase. Physical outlets remain a critical part of today’s shopping journey—both in terms of brand engagement or purchase execution—and will continue to play a role in 2040, though their functions will evolve.

Consumers shop in outlets when wanting to see or try something
When purchasing physical goods in stores, connected consumers report wanting to see or try on something as the primary motivation. While technologies like virtual reality or 3D imaging mimic the in-person experience outside of the physical outlet, other characteristics of in-store shopping may be harder to replicate.

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