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2024: Retail Odyssey Perspective by Futurist Anders Sorman-Nilsson

15 Jun 2014

In a future where we convince ourselves that we are younger, longer. Where tech is no longer just wearable, but is intimately augmenting our cyborg bodies. 

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Where Baby Boomers are catching a second wind and dominating the cafe scene in South Yarra, and Darlinghurst. Where Gen Zs are pampering their pets, or child replacements, and digitally tracking their dogs' aerobic acitivity in the Botanical Gardens. Where Gen Ys who have TiVo'd family formation are harnessing the latest in Life Sciences innovation to boost the Australian birthrate, and Gen Xers have been told by the Government until they are at least 70.

 

Retail Odyssey Perspective By Anders Sorman-Nilsson

Europeanization of living has forced single person professsional households to morph and collaboratively consume living quarters and scare natural resources to afford inner city lifetyles in a era of intense global and national urbanisation. These highly qualifies professionals share resources, rent and subscribe and shun ownership of products as backward. The Australian ideal of home ownership is discarded as archaic. Urban gardening is now no longer a Hipster pastime, but an essential component or recycling and co-production. These professionals' disposable income is spent on experiences rather than "stuff", and when they consume "stuff" they want to track and trace the whole supply chain to ensure the product aligns with their personal brands and values, and ultimately protect a planet which is trying to cope with 100s of millions more mouths to feed.

Retail Odyssey Anders Sorman-Nilsson

in 2024, the distinction between developed and developing nations has disappeared. The newly affluent nations of Vietnam, the Philippines, and Indonesia have leapfrogged western technology adoption patterns, and mobile diffusion of technology is connecting 100s of millions of Asian consumers with smart Australian brands who have developed local stories to connect with Asian hearts and minds. Australia has opened up its commerical borders with Asia, and leading Australian retailers have multi ethnic, multi-gender and multi-lingual executives and boards guiding their brands to connect in a diverse Asian landscape with divergent demographic makeups.

Retail Odyssey with Anders Sorman-Nilsson

Meanwhile, 3D printing is taking the on-demand trend to new extremes, and in 2024 the consumer is downloading cool designs from your brand, but manufacturing the "stuff" at home. This changes logistics, fashion, seasons, and procurement patterns. At the same time, technology and the internet of things is removing the distinction between the here and there, home and away, work and life and consumers are expecting you to seamlessly connect with them as "customer heroes" in an omnipresent web of brand touch points, whenever they indicate that they are ready, and Artificial Intelligence ecosystems will alert you when this is the case based on predictive analytics and sophisticated psychographic marketing to unique segments - of 1.

The Future scenario may seem far fetched or somewhat closer to current reality, depending on your perspective. But the early warning signals are already indicating that this virtual reality will not be virtual for very long.

Retail Odyssey Perspective 2024 Global Futurist Anders Sorman-Nilsson

 

Are you ready for the future? Anders Sorman-Nilsson explores the certainty, uncertainties, drivers and megatrends shaping the future of retail, and how you as a brand can be future ready.

 

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