The retail store format has remained the same for over a 100 years. But a recent experiment by Walgreens in Chicago(as a response to shoplifting) may provide a glimpse into the future.

Let’s use this concept to imagine what the future of the departmental store could look like: You walk into the ‘store’. Instead of aisles of products, you have cafes/bowling alleys/video game arcades.All products are stored in the basement.You use an app or a digital kiosk to order.The products are delivered to your car/parking. You finish your shopping/entertainment/dinner and leave with the groceries.The ‘shop floor’ is basically used for sampling, promos, coupons and a gamified shopping experience. (Cue Apple and Meta’s VR headsets)

While this makes shopping infinitely more enjoyable, it can transform the retailer’s business economics:

• • Increase monetization of the retail space with higher-margin activities.
  • Unlock in-store media revenue

You convert the boring shop floor into a cash-spewing machine.The in-store retail media opportunity alone could double the retailer’s ad revenue & overall EBITDA and change the contours of the retail business,the largest industry in the world.