Accelerating into the future state of the industry
After a testing two years, characterised by economic fits and starts, retail has risen to the challenge and fast-tracked industry transformation. But the imperative to evolve continues. Join us as we explore retail’s future-state and the opportunities that exist within the retail industry for those who choose to prepare for the future right now.
Join Deloitte, Google, Meta, Salesforce and the Australian Retailers Association as we examine the transformational trends set to shape the industry in 2022 and beyond – and map what that means for your business, right now.
Four sessions, over four days. Retail, RightNow.
Our tour stops
Explore the key retail trends for 2022 and beyond
Gen Z open their (digital) wallets
Gen Z are becoming more important to consumer brands as both customers and employees, as they come into their own and push retailers to connect with them across an ever-expanding digital surface. They’re far less predictable than other generations, now buying from a broad range of retail channels, reselling through digital platforms, and setting their own terms for delivery of goods. Investment into digital talent, IT and analytics capabilities will be critical to strengthen a future facing workforce that can anticipate and flex with consumer demands.
Convenience scales up
With consumers demanding a frictionless and often contactless retail experience, checkout-free stores, ultra-fast and autonomous delivery are rapidly becoming mainstream. Implementing these new digital enablements in-store will be critical with the in-store transformation already in play - according to Deloitte’s 2022 Retail Industry Outlook, more than half of retail leaders believe staff-free stores will become common within the next five years.
Through progressive and distinctive collaboration retailers can achieve something greater than the sum of its parts. Collaboration is key to create brand distinctiveness, and to tackle the some of the biggest issues the industry facing. Not every retailer has the resources to compete with the dominant players, but with last-mile solutions on the rise, smaller retailers are able to scale like never before through collaboration within and across industries.
Retail in a digital world
Digitisation of the physical world is expected to accelerate as retail begins to adapt its core to the new digital landscape, create digital products and experiences, and start to explore the metaverse. With digital interactions such as voice commerce, VR try-on, and mid-air haptics already entering the entering the market, immersive digital experiences will be a running retail theme for 2022 and into the future.
Conscious consumerism and a challenging market is encouraging retailers to diversify their offerings. Customisation and personalised experiences require agility from retailers, and supply chains are learning how to flex their capabilities to deliver diversity and value.
Circularity and traceability
Given the changes in consumer attitudes in recent years, it’s clear that sustainable products—promoting environment and social responsibility—are here to stay. Traceability is now a critical capability required to deliver on climate promises and achieve targets to reduce emissions. Commitment to sustainability is increasingly becoming an expectation, and the industry is now accustomed to concepts that require traceability like ethical fashion (production methods, working conditions, and fair trade); circular fashion (recycling, upcycling, and thrifting); slow fashion (sharing, renting); and conscious fashion (eco-friendly and green fashion).
2022 Retail Industry Outlook
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