Future of Retail Industry 2020 and Beyond

Project

Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
The Future of the Industry 2020 and Beyond..............................................................................3
The Organisations Innovation Requirements 2020 and Beyond.................................................4
Building the Future Innovation Capabilities for the Organisation..............................................6
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
In the world of globalization and more level of evolving trends to be meet the changing demand
and expectation of customer have turned to be challenging task for the retail industry. The
companies are now a days looking for the establishment of effective market research with aim of
offering value added feature for fulfilling the changing needs and demand of customer.
Presently this report has the major level of focus on Marks and Spencer with having company
headquartered in UK. This report will have the discussion on the development of an innovation
map which have the outlining for preparation of innovation process by looking as the wider
operational aspect and downstream suppliers and service providers in organizational full
capacity. In addition, there will be discussion on the future industry 2020 along with
organization requirements for building the future innovation capabilities for the marks and
spencer. The company have the discusses for the establishing the 5-year transformation
programmes with the aim to have the increase in the organizational sales as per increased level of
profitability. This report will have the focusses on relation of the develop the customer segments
with services as well as the product the company is delivered.
MAIN BODY
The Future of the Industry 2020 and Beyond
The retail industry has been going through there major level of transformations into the
ecommerce form the brick and mortar. This era has the inventory led retailing is term to be
ending and the significant shift towards the brand along with customer experience is emerging.
In the year 2019 the revenue of the retail industry has continued to be trending upward
movement as entire experience have been becoming more streamlined and frictionless to
customer.
As the reason for growing the upward trends merchant have the embraces of ecommerce by
boosting the significant growth along with role of solution providers. The trends which is being
identified in the year 2020 and beyond are as follows-
Machine learning have been tasking here significant benefits as the retail trends as many of the
companies such as Amazon, Walmart, Alibaba, Costco, The North Face are using ML in theory
operations for boosting the sales with the development of digital solution. This will make the
firm to have the improvement in the personalization which increase the customer satisfaction and
boosting up the sales.
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There is more level of enchasing the facilities for maintenance and instore inventory planning by
tasking up the better audience’s segmentation and targeting
The trend two is Augmented Reality to Revamp the Future of Retail as the days shopping is not
about the looking of products instore buy the argumenta retailing have providing the immerses
experiences for allowing the customer to feel the products which is gains value in 2019 and
more interest parts in 2020 beyond.
Omni channels shopping the future of the retail industry as have the important motive to
provide the satisfaction to customer as the M&S have the need o make proper development of
the website , mobile applications and the physical store products in order to make the customer
more level of satisfied with services. This will make the providence of the different channels in
order to increase get buying experience such as the part of customer engagement increase along
with boosting the overall sales and profits. This will also helpful in enhancing the customer
support services by staying more agile.
On the other hand, the industry facing the major level of challenges due to their strong economy
along with level of potentials recessions looming have not merely establish the better
understanding in the level of top retail trends. This is considered to be crucial to gains the
competitive industry in the market.
On the other hand, the sector is facing the major level of challenges due to the detecting the
value of patterns within the business data which is rationally associated with the workforce
management. Hence the technology have the identification of the various outcomes which have
the inclusion of the risk, relatability, energumen and significant performance.
This the year the firm will have the major level of focused of the development and the
implementing o the innovative technologies in order to have the proper analysing the customer
data by improving the customer decisions.
The Organisations Innovation Requirements 2020 and Beyond
The technology is considered to have the rapid changing which is nexin identified as the retail
industry as have the advancement in the technology. The firm marks and spencer’s have the need
to make the proper level of adoption the differed retailing trends of the markets. The firm have
the major level of trends more looking as their development of the organizational success in
terms of gaining more level of profitability and the selling ratio which helps the firm to make the
improvement in the term of logistics and clothing network.
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