Square has released early insights from its forthcoming annual Future of Commerce report, providing a unique look at the retail, restaurant and beauty industries across the US, Canada, UK and Australia.
The research found that businesses worldwide intend to turn to innovative, tailored technology in 2025, as they face the triple challenge of sustained high inflation, shrinking consumer wallets and the need to raise prices across the board.
Retailers’ priority for the year ahead is to better meld the physical and digital together, at a time when consumers increasingly crave in-store experiences powered by seamless technology.
78% of retail leaders believe in-store experiences like product demos or classes are critical for business growth, and about a third (35%) think they should offer more in-store events to keep up with the competition.
One sign of retailers’ growth plans for 2025 is that 68% of them say they will invest in an online store over the next 12 months.
The full analysis of the top retail trends for 2025, industry data and insights from Square experts will be available in the forthcoming report published on 4 February 2025.