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surrounding the future of the high street remains . Rohit Gupta , Cognizant ’ s Head of Product and Resources ,
suggests there is light at the end of the tunnel and retailers must utilise technology to rebuild the high street .
With the retail industry up in the air as a result of the turmoil caused by COVID-19 , confusion
How technology can help the retail industry recover after years of turmoil and a pandemic he Coronavirus pandemic has
T left no industry untouched , but retail has been one of the hardest hit , with brands left relying entirely on their e-commerce offering and customer loyalty just to stay afloat in these extremely challenging times . As a result of further lockdown measures , consumers have once again turned to online shopping , not only for items like clothes , but also for basic necessities such as groceries . Even post-lockdown , it is unlikely that the high street will ever be the same again . In fact , it was suggested at the Retail Expo virtual conference earlier this year that high street retailers will be required to change radically in the aftermath of the pandemic .
That is not to say that consumers will never return to the physical store , but retailers need to do more to get them there . In order to do so , technology will play an enormous and vital role .
Enticing customers back to physical stores
Now , more than ever , retailers need to find effective ways to attract customers back into the store and away from the comfort and ease of online shopping . In the post-COVID era , brands need to consider the impact that consumer spending has on the economy .
Although many brands have decided to reopen their high street doors , there are still many that have decided not to , with one-fifth of UK retailers not planning to reopen after Coronavirus . In light of this , the future high street looks like it will be made up of fewer , but much larger stores , with the concept of the mega store potentially becoming much more familiar to UK shoppers . These will provide an end-to-end experience for customers , whether that is with in-store cinema screens , restaurants , or even beauty bars . However , these mega stores will not be physical stores as we know them , as social distancing and hygiene will remain top priority .
Smaller stores that are left unopened will then be used as ‘ dark stores ’ – more convenient and local warehouses used for fulfilment to improve the e-commerce home delivery experience . We are already seeing this trend come to life as Amazon has entered into talks with a shopping centre giant about transforming current department store spaces into warehouses for online orders .
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THE FUTURE HIGH STREET LOOKS LIKE IT WILL BE MADE UP OF FEWER , BUT MUCH LARGER STORES , WITH THE CONCEPT OF THE MEGA STORE POTENTIALLY BECOMING MUCH MORE FAMILIAR TO UK SHOPPERS .
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