Introduction

01 Introduction →

02    Expanding selling channels →

03    The keys to compete →

04    Experiential retail→

05    Reaching customers →

06    Automation matters →

07    The staff experience = the customer experience →

08    Automation and the economy →

09    Methodological notes →

The world of retail is constantly evolving. In 2023, retailers are expanding the ways they sell and blurring the lines between their sales channels, giving customers entirely new ways to interact with a brand. Shopping experiences on mobile, social and other digital platforms are attracting and engaging consumers, and merchants are working smarter instead of harder by leveraging automation tools that help better serve customers and employees.

While the economy has some shoppers concerned about the future, consumers at large aren’t holding back on purchases. According to Square's Future of Commerce report, 88% of consumers agree that given the impact of inflation and the rising cost of goods, they would be understanding if their favourite local businesses raised their prices — though 33% would be likely to cut down on how much they buy.

To uncover the challenges and opportunities that lie ahead for North American retailers, Square partnered with Wakefield Research for our third annual Future of Retail report. As the face of retail is being redefined by new generations of business leaders and customers, we surveyed 2,000 consumers along with 1000 retail owners and managers to gather insights that will shape the retail industry in 2023.