A new survey published by IFH Köln (IFH Cologne) called Handelsszenario 2020 (trade scenario 2020) provides insight into the future world of business. By using four different scenarios, the value of trade 2020 is quantified and profound structural changes in the world of retail business are demonstrated.
The future belongs to multi-channel business
Even though online business continues to prosper, stationary trade is not going to vanish. Despite sinking turnovers, the stationary trade holds enormous power compared with the e-commerce and remains an essential point of sale for unplanned shopping experience.
Nevertheless, the new online sales formats challenge the old-fashioned trade, so that further changes in format can be expected during the next few years. Trade can only react by introducing multi-channel concepts that can prove their worth in online as well as in stationary settings by managing their brands with cross-channel scenarios.
Additionally, the IFH experts count on formats switching within the ranges of shopping, leisure time and gastronomy, which they esteem to be a viable mix for the future. “Trade needs to be reinvented. The local trader is going to be consultant, entertainer, stylist or caterer and has to remain a salesperson as well. Trade is now put before the challenge to develop viable concepts and to lead the way into the future,” says Boris Hedde, CEO of the IFH Cologne.