Published 28 September 2023

8 min read
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What do generative artificial intelligence (AI), authentic comms, happy apps, extended reality’s (XR) post-purchase frontiers, individualised experiential and expressive luxury have in common? They were all hot topics at the Financial Times’ Future of Retail summit (September 19, London), where industry leaders and brand technologists unpacked the most powerful directions and nascent opportunities for the year ahead.

Conscious Consumerism & Localising Values-Led Retail

Social Media Moves: Happy Apps & Authentic Comms

Expressive Luxury & Evolving Masstige

Generative AI: Conversational Commerce’s Next Frontier

Demystifying XR: New Directions

Despite the exponential growth of fast-fashion (low-price) behemoths like Chinese e-tailer Shein, some speakers suggested that a values-led marketplace will dominate the future, driven by Gen Zalpha’s desire for locally relevant, ecologically sound and socially supportive retail (when coupled with feeling good).

Despite the exponential growth of fast-fashion (low-price) behemoths like Chinese e-tailer Shein, some speakers suggested that a values-led marketplace will dominate the future, driven by Gen Zalpha’s desire for locally relevant, ecologically sound and socially supportive retail (when coupled with feeling good).

Summary

Conscious Consumerism & Localising Values-Led Retail

Despite the exponential growth of fast-fashion (low-price) behemoths like Chinese e-tailer Shein, some speakers suggested that a values-led marketplace will dominate the future, driven by Gen Zalpha’s desire for locally relevant, ecologically sound and socially supportive retail (when coupled with feeling good).

Social Media Moves: Happy Apps & Authentic Comms

Industry heads from businesses including American social media/tech giant Snap, British multibrand fashion e-tailer Asos and British luxury fashion reseller Sellier discussed social media and influencer economy shifts. Conversations straddled organic content versus paid ads, “composable commerce”, happier apps (that avoid “context collapse”) and positively contentious campaigns.  

Expressive Luxury & Evolving Masstige

Conversations about younger consumers also surfaced discussion regarding the value of co-authorship in luxury retail, where feeding a participatory mindset (products, but now also brand ethos and messaging) is becoming increasingly key to cultivating early-stage loyalty, plus new ways to hit up the mass-prestige (masstige) consumer.

Generative AI: Conversational Commerce’s Next Frontier

Unsurprisingly, the influence of new breeds of AI was another hot topic – specifically generative AI that’s capable of synthesising vast volumes of data while responding to individuals’ visual, voice- or text-based requests, or even archived information. Use cases ranged from serving up horticultural advice to birthing avatars from phone-stored ‘memories’.

Demystifying XR: New Directions

Brand leaders like sports retailer Foot Locker, telecom company Verizon (both US) and Ikea – plus American tech pioneer Helen Papagiannis, author of Augmented Human – scrutinised XR brand engagement. Key conversation covered smart glasses, dialling up immersion, sensory tools for individualising experiential initiatives and redefining physical flagships (including tech presenting a window to the post-purchase experience).

FT Future of Retail 2023

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Offering access to over 350 consumer and cross-industry reports annually, Stylus Membership is your window to tomorrow’s most exciting opportunities.

We already arm more than 500 of the world’s most forward-thinking brands and agencies with the creative insights they need to make transformative business decisions.

We’d love to do the same for you.

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