On the evolutionary spectrum of retail, the UK is currently at Generation 4 but advancing towards Generation 5.
To put that in perspective, consider Generation 1 as the most basic form of retail, while Generation 2 involved the rise of chain retail stores over half a century. Generation 3 is where most markets are today with e-commerce and stores interacting with each other, a process that’s taken only a decade or so. Generation 4 sees the arrival of algorithm-driven commerce and scaled marketplaces like Amazon.
“But where we are headed very, very quickly is Generation 5,” Xian Wang, VP, Retail...