The Future of Retail

future of retail and shopping

To help retailers define and own their success this year, we partnered with Wakefield Research to see how 500 retail managers and owners and 1,000 consumers are moving ahead in creative ways.

The Future of Retail Belongs to Local Businesses

The opportunities for retailers are endless. Consumers are craving connection and convenience, and local retailers are stepping up to meet those needs, reimagining what the entire shopping experience can and should look like. From revamped physical spaces to seamless online shopping, retailers and consumers are in for a thrilling 2021. The future of retail is bold and innovative, and it belongs to local, independent retailers.

To help retailers define and own their success this year, we partnered with Wakefield Research to see how 500 retail managers and owners and 1,000 consumers are moving ahead in creative ways. Whether you’re an online retailer or have brick-and-mortar locations, this report will help you understand the trends and changing customer expectations that are defining the next age of the retail experience.

66%

of revenue from retailers that have one location that sells online, comes from online sales.

84%

of retailers who sell online either already sell on social media or plan to this year.

40%

of online revenue comes from social selling, for retailers selling on social media.

88%

of retailers are now selling online.

35%

of retailers plan on implementing livestream shopping in 2021.

74%

of retailers plan on using real-time inventory technology this year.

“Local retailers have advantages over big players like Amazon and Walmart in that they’re physically close to their customers, and they offer a more curated and higher-quality selection of products. That creates opportunities to shine.”

— David Rusenko, Head of eCommerce at Square

In this report, you’ll learn:

From social-first selling to the rise of the multi-hyphenate retailer, learn about the top trends that are shaking up the retail world this year and beyond.

Industry insights from Square retail experts

We tapped internal Square experts Megan Karande and David Rusenko to share their perspectives on what these trends mean, where they’re headed, and the best ways for local retailers to do what makes the most sense for their businesses.

Real-life examples from innovative Square retailers

See how Square retailers across the country are incorporating trends like livestreaming and virtual reality shopping into their stores.

Tools and strategies to help you bring all of these ideas to life

Uncover the resources that can help you discover if these trends are right for your business, and how to put them into motion.

To get the rest of these insights and trends, download the full Future of Retail report.