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GLOBAL 2016: Stores today need to update at app speed

The idea of the physical store design serving as a lasting monument is disappearing. The physical store is no longer a place where you create a magnificent chandelier that lasts for five years. Retail will be in a constant state of beta. Each store will remain a perpetual test store. Consumers expect their mobile apps to get updated regularly, sometimes with new and improved stuff. They will apply the same expectation to physical stores. In practical terms, the store will not be totally refit, but it will be constantly renewed. In this new world, the store becomes a stage set for a performance. It becomes a brand message. It becomes similar to retail theatre, but different. It doesn’t have a five-year run.
 
Tim Greenhalgh
Chairman and Chief Creative Officer
FITCH
Tim.Greenhalgh@fitch.com