The three most vital concepts for retail today are: experience, experience and experience.

Though there’s been no shortage of talk about the necessity of providing consumers with experiences and products that heighten their retail experience, innovative business consultancy PSFK Labs said the future of retail will be about democratizing access.

“Winning the hearts and minds of today’s shoppers can’t be accomplished with one-off tactics, marketing campaigns or points-based rewards,” PSFK said in its Future of Retail 2016 report. “Instead brand and retailers must develop a broader process that considers the core needs of shoppers, delivering utility, value and meaningful interactions at every point along their journey.”

Read more at Sourcing Journal.