新时代门店的重新定义

Redefining stores for a new era As AI reshapes howshoppers discover andbuy products, the store’srole is changing. Retailersand real estate firms mustrethink store formatsand shopping centerportfolios to better fitconsumers’ lives. Contents Executive summary�����������������������������3 Chapter 1 The structural shifts shaping the future of shopping������6 Chapter 2 The new shopping trip calculus�������������������������11 Chapter 3 Designing stores for distinct shopping missions��������16 Chapter 4 Winning in a world of selective shopping:Three imperatives for retailers�������������������������21 Chapter 5 Curating retail ecosystems:How landlords and developers can thrive���������������27 Executive summary The US retail landscapeis entering a new era. As consumers accelerate their use of AI for makingroutine purchases, stores will remain a critical part of the shopping journey—but the role of the storewill change. Store visits may become less frequent but more valuable. In this environment, retailers and real estate players will need to clearly define the specific missionof each store and shopping center and determine how to meet consumers’ evolving needs—whetherfocused on convenience or discovery. The portfolio, operating, and investment decisions that thesecompanies make over the next three to five years will determine which stores and centers earn theirplace in the future of shopping. For this report, McKinsey partnered with ICSC, an organization serving the commercial real estateand retail industries, to survey more than 3,000 US consumers about their shopping preferenc-es. Drawing on this data, interviews with retail and real estate executives, and McKinsey analyses,we explore the structural shifts shaping the future of shopping; changes in when, why, and howconsumers decide to shop in person; and steps that retailers, landlords, and developers can take tocreate value. Three structural shifts that are reshaping shopping We believe three structural forces will most materially change the store’s role over the next fewyears: increasing use of AI in purchase decisions, growing expectations for transparency andconvenience, and a shift in consumer spending power. The rise of agentic AI may be the most profound of these changes. For now, AI use is mostcommon in the early stages of the shopping journey, but that is likely to change quickly asconsumers develop more trust and begin to use agentic tools for basket building, automatedreplenishment, and postpurchase support, particularly in household staples and other routineessentials. In turn, consumers may turn to stores for order fulfillment, product validation,immediate access, or differentiated experiences. Convenience is not just aboutspeed at checkout—it’s also aboutdaily-routine-friendly locations,predictable inventory, clear pricing,and smooth transitions betweendigital and physical channels. Transparency and convenience are also major factors in shoppers’ behavior. Consumers have cometo expect immediate access to information on pricing comparisons, inventory, and delivery timing,plus a quick-and-easy purchasing process. Convenience is not just about speed at checkout—it’salso about daily-routine-friendly locations, predictable inventory, clear pricing, and smooth tran-sitions between digital and physical channels. The third transformational force is the increase inspending power among younger generations, including millennials andGen Z. In our survey, Gen Zand millennial respondents were significantly more likely than older cohorts to shop both online andin store. Younger consumers were also more likely to prefer retailers that have a website or onlinepresence, to feel comfortable automating routine purchases, and to prioritize frictionless paymentoptions and newer commerce features when choosing where to shop. In addition, more millennialsand Gen Zers expressed a preference for experiential retail. The new shopping trip calculus Often, store trips serve one of two purposes: convenience or discovery. For both kinds, consumersare applying a new calculus: weighing the time and effort it takes to shop against what they expectto get out of these trips. For many convenience-oriented trips, shoppers prioritize efficiency. Convenience-driven consumersoften know what they want to buy before they leave home, and they often check product availability,compare prices, review selection, or look for coupons online. For many consumers, particularly younger generations, physical stores are still destinations forexploration and connection. The ICSC consumer survey revealed that shoppers across age groupsshop across in-store and online channels; shopping “mostly online” is not the leading method forany generation or category. Younger generations expressed stronger preferences for curated envi-ronments with edited assortments, pop-ups, and showroom-style formats. For discovery-oriented visits, respondents expressed interest in some personalizatio