Explore how underlying drivers could change different consumer worlds over the next 20 years. In this report, the researcher outlines a vision for commerce in 2040, highlighting the new formats, business models and experiences that consumers of tomorrow will expect, and the implications thereof. This thought-provoking report, which serves as the kick-off of the broader Commerce 2040 series, includes visualizations of next-gen commerce in the future entertainment venue, retail store, and home.
TECHNOLOGY WILL REMAIN A KEY DRIVER CHANGING THE WORLD BY 2040
In the last decade, technology has emerged as one of the key drivers reshaping the world and, specifically, commerce, and is likely to continue to be one of the most important factors inspiring future upheavals. New technologies, such as artificial intelligence, the Internet of Things and 5G, will accelerate the rate of change for businesses and consumers alike.
COMMERCE 2040: ENTERTAINMENT VENUE
Live entertainment is shifting from an in-seat to a choose-your-own-adventure experience. Undoubtedly, this more personalized and intimate experience will be enabled and enhanced through technology. This will create new commerce opportunities in seating, around the venue, and at home for a variety of players including entertainment operators, restaurants, retailers and brands.
COMMERCE 2040: HOME
Excitement about the smart home has been building for years, but so far it has not lived up to its hype. However, the recent convergence of widespread connectivity, an industry push to sell connected appliances and the emergence of more compelling consumer use cases is building momentum. By 2040, consumers will have access to more services, and commerce will be more seamlessly integrated.
COMMERCE 2040: RETAIL STORES
Physical outlets will continue to play a role in how consumers browse and buy goods. Retail stores will have evolved by 2040 in order to better serve a more informed, impatient and internet-connected shopper. In the future, retailers will leverage technology to remove the hassles of shopping for mundane purchases, while enhancing the experience for those requiring more consideration.
REQUIREMENTS FOR INNOVATORS OF TOMORROW
The innovators of next-generation commerce of 2040 will face a different set of challenges from those that came before. In many ways, the next stage of development will require more infrastructure changes to bring to fruition next-gen commerce than those that might previously have been required.
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Category: Finance and Banking Market
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