Retailtopia

Retailtopia, a vision for British retail in 2020 from an independent panel convened by BT.

In March 2012, a panel of retail, payment and consumer experts – led by the Chairman of Which?, Professor Patrick Barwise – unveiled their vision for British retail in 2020.

The ‘Retailtopia’ vision looks beyond the huge challenges facing the retail sector in the short-term and suggests a positive future for British shopping in an increasingly internet-driven and mobile society.

It predicts a far more personalised, interactive and seamless experience for customers who will use technology to shop across virtual and physical boundaries anytime, anywhere.

Professor Patrick Barwise, leader of the Retailtopia panel, said: “The UK’s retail sector is already a global leader in online shopping, with nearly £30 billion of sales coming through this channel in 2011. But retailers face some of the toughest challenges in the current economy. There’s a danger short-term focus on profitability and lack of investment in innovation could damage our longer term potential to create the best shopping experience in world.”

“Our vision focuses on the potential benefits for both customers and retailers. We want to get retailers thinking about the important investment, strategic and staffing decisions they need to make to fulfil their potential and build their contribution to the UK economy over the next decade. I’m confident that success across every retail channel in Britain will help them discover new opportunities in international markets, which has often proven to be a risky venture in the traditional world of bricks and mortar retailing.”

The Retailtopia panel involves former executives from Tesco and Topshop, along with experts from the British Retail Consortium, Which?, Forum for the Future, Mastercard, BT and Nielsen. It believes the most successful retailers of the future will slash customer waiting times by offering instant online content, constant stock availability, no queues and same-day deliveries without the need to pre-book.