TRENDS 2020: HOW INNOVATION IS RADICALLY CHANGING RETAIL & SHOPPING MALL INDUSTRIES
TRENDS 2020: HOW INNOVATION IS RADICALLY CHANGING RETAIL & SHOPPING MALL INDUSTRIES
The days of static stores are gone. The guide to transforming shopping malls into ‘Consumer Engagement Spaces’ (CESs) is based upon the experience economy. The CESs of the future will include retail stores often in smaller formats with less dependence on inventory and more focus on creating personalised brand experiences through virtual reality, augmented reality or mixed reality…
Jayant Vaitha, Director & Head of Design Practice & Aabhas K Maldahiyar, Senior Associate Architect, Colliers International India

As we approach first quarter of the 21st century, everything, including retail design trend, is changing as far as the shopping mall and retail industries are concerned – and that too at a great pace. While change is inevitable, the fact of the matter is that the curve of changes is bit too steep than the base time. And there is good news and bad news. The good news is that innovation is radically changing the retail. And this is the bad news as well.

What will the future of the retail industry look like? What are the trends that will shape retail in the coming years? These are some of the questions that we will try and answer through this study.

The Retailpocalypse Will (Finally) Be Behind Us

This means that the stores will still exist, with an emphasis on stores in shopping malls. However, stores in shopping centres will be more like customer experience centres. With e-commerce offering deep discounts, deals and incentives, transactions will be majorly done on online stores. Designers will need to cope with this paradigm shift and see how the functioning cost can be minimised.

With this upfront the industry shouldn’t be surprised to witness more of high-street models wherein designers cut down the investments by reducing ‘Engineering Loads’. The idea of air-conditioned atriums may cease, and open courtyards would replace them soon. Despite the Retailpocalypse, designers will push hard for design flavours which will push offline sales as well as online sales.

Design Focus on Sensory Experiences

Sensory experiences will be key. They will be the biggest difference between online shopping and offline shopping. With increase in digitisation, haptic experiences will gain high importance, with the store space becoming a place to experience products using all our senses, and of course, with the help of multisensory technology.

Browsing vs Buying

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February 2020