Introduction

The world of retail is constantly evolving. In 2023 retailers are expanding the ways they sell and blurring the lines between sales channels, giving customers new ways to interact with a brand. Shopping experiences on mobile, social, and other digital platforms attract and engage consumers, and merchants are leveraging automation tools that 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 the Square Future of Commerce report, 88% of consumers agree that given the impact of inflation and the rising cost of goods, they would understand if their favorite local businesses raised their prices — though 33% would likely cut down on how much they buy.

To uncover the challenges and opportunities that lie ahead for 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 500 retail owners and managers to gather insights that will shape the retail industry in 2023.

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 →