Redefining Retail

Conclusion: Embracing the Post‐Digital Retail 5.0 Journey

As we conclude our journey in the post‐digital world and its impact on retail, we find ourselves at a pivotal moment where change is not only constant but also unprecedented. We've stated that the very concept of retail must be redefined, for two primary reasons: (1) because of the blurring lines between B2B and B2C, which caused an earthquake in the once‐clear boundary between the two worlds, and (2) because of the huge pressure exerted by technological disruption.

The convergence of general‐purpose technologies, the maturity of key enablers, and the rapid adoption of critical technologies such as AI, IoT, AR, VR, ML, robotics, and blockchain have ushered in a new era of commerce that we call “retail 5.0.” In this era, technology will be less visible but far more present, making every interaction effortless, contextually relevant, and personalized to each individual customer. Natural language processing, sensors, and voice interfaces will allow people to engage in seemingly natural interactions with new technologies. We will seamlessly interact with a plethora of “things,” and those things will interact with each other seamlessly in the physical, digital, and virtual worlds.

In particular, the surge of generative‐AI applications is spurring exciting innovations and pushing both organizational and customer expectations—but it also worries many who are concerned about data privacy. Consumer companies will be attracted ...