The world of retail has undergone a profound transformation over the past few decades, driven primarily by the technological revolution. Recently, a roundtable discussion on “25 years of retail, and how the sectors of retail trade, electronic commerce, and delivery have evolved in the first quarter of a century” brought together experts in the field, including Albert Ko, Delegate Council of Auctane, Richard Lim, Delegate Council of Retail Economics, and Mia Yamaguchi, Retail Development Lead at Uber Direct. These industry specialists shared their insights on the main trends in electronic commerce, the impact of new technologies, and the increasingly important role of the consumer in business decisions.
## The Power in the Hands of the Consumer
In the past, large distribution chains dominated the market, imposing available products on consumers. Today, the democratization of digital trade has enabled any small entrepreneur to create their own online store, diversifying and making the market more competitive. The rise of e-commerce and social networks as sales channels has given consumers unprecedented control over their purchase experiences, forcing companies to constantly adapt to new market demands.
## Growth of Social Trade and Marketplaces
The integration of social networks into electronic commerce has emerged as one of the most powerful trends today. Platforms like TikTok Shop, Instagram Shopping, and Facebook Marketplace have become authentic digital showcases for independent brands and sellers. The use of live broadcasts and influencers’ customized recommendations has significantly promoted sales, bringing with them a model similar to that of television sales, but in a digital environment. Additionally, marketplaces like Amazon and Uber Eats continue to grow, offering enormous convenience to consumers and a more accessible structure for small sellers. Companies that manage to align their strategies with these platforms have a significant advantage in an increasingly competitive market.
## The Role of AI in the Transformation of Retail
Artificial intelligence is revolutionizing the retail sector in multiple ways, from product recommendation to inventory management. Extreme customization based on consumer behavior data allows brands to offer purchase experiences increasingly adjusted to individual preferences. Some companies are already using AI to optimize supply chains, predict demand, and reduce waste, thus promoting a more sustainable strategy in commerce. Automation also plays a key role in customer service, reducing response times and improving the general consumer experience. Tools like chatbots and virtual assistants are now widely used to solve doubts and attend to purchase and return processes.
## Omnichannel: The Future of Retail
The integration of physical and digital worlds has been a significant challenge for many retailers, but those companies that manage to create a fluid experience between the two channels are standing out. While some brands continue to face difficulties in balancing their physical and digital presence, others have managed to integrate their physical stores with e-commerce, allowing customers to collect and return products bought online directly in stores. The business model is changing rapidly, and physical stores are being reinvented as experience points for consumers, functioning like showrooms and logistics centers for faster and more efficient deliveries.
## What to Expect in the Next 25 Years?
Sector experts predict that retail trade will continue to evolve towards an even greater fusion between physical and digital. The use of increased reality (AR) and virtual reality (VR) will allow consumers to experience products virtually before making a purchase decision. Additionally, personalization will reach unprecedented levels, with artificial intelligence systems suggesting products based on the individual style and needs of each consumer. Another expected advance is the development of logistics systems, with ultra-fast deliveries and a decentralization of distribution centers to better meet local demand. Sustainability will also be a priority, with technology helping to reduce waste and optimize inventory management. Digital trade is transforming at an accelerated pace, and companies that do not adapt to the new demands of the consumer and technological innovations are at risk of being left behind. The future of retail will be marked by personalization, convenience, and total integration between the physical and digital world.
