Tech Mahindra in partnership with Coresight Research, a renowned retail and technology research firm, has released its much-anticipated “Store of the Future: Unlocking Performance Through Innovation” report. This in-depth global survey reveals key retail industry trends shaping the future of brick-and-mortar stores, focusing on smart retail technology, AI-driven customer experiences, operational efficiency, and digital transformation in retail.
The Store of the Future is defined as a technology-enabled, data-integrated retail ecosystem designed to create a seamless customer shopping journey while optimizing back-end store operations. The findings, based on a survey of 360 retail decision-makers across North America and Europe, highlight how retailers are leveraging AI, advanced analytics, automated inventory management, and omnichannel solutions to address operational challenges such as inventory inaccuracies, labor productivity issues, and inefficient store management.
Key statistics from the report show:
92% of global retailers are actively investing in technologies to improve in-store operations.
84% acknowledge operational inefficiencies affecting profitability and revenue.
Enhancing customer experience is the top priority for 40% of respondents.
57% are implementing advanced data analytics, making it the most widely adopted technology in retail today.
Automated inventory tracking is ranked as the most critical technology for future-ready stores, driving better product availability and real-time insights.
Sampath Saagi, Head of Diverse Industry Verticals Group (DIG), Americas, Tech Mahindra, emphasized, “The Store of the Future is more than just a connected retail space — it’s a data-driven, intelligent environment where personalized shopping experiences meet operational excellence. Through our collaboration with Coresight Research, we’re offering retailers a strategic roadmap to boost store performance, increase revenue, and elevate customer engagement.”
Deborah Weinswig, CEO and Founder of Coresight Research, added, “Success in building the Store of the Future depends on more than deploying standalone technologies. Retailers must align AI-powered retail innovation, digital transformation strategies, and customer-first approaches to ensure both short-term ROI and long-term scalability.”
The report also notes that while optimism towards smart retail solutions is high, challenges such as technology implementation costs and data privacy concerns continue to slow adoption. A phased and strategic approach to retail digitization is critical for sustained success.
By blending AI, IoT, automation, omnichannel integration, and predictive analytics, Tech Mahindra and Coresight Research’s findings serve as a blueprint for future-ready retail stores — empowering retailers to enhance shopper experiences, optimize supply chain management, and achieve sustainable growth in the competitive retail market.
