The retail industry is expected to evolve more over the next 10 years than it has in the last 50 years. E-commerce, mobile, iBeacon, new shipping and delivery methods such as “click and collect,” and competition from pure play e-commerce sites are driving much of the change. Leading retailers are reinventing themselves to adapt to and thrive in this new world of retail.
A seamless shopping experience
Consumers are turning first to the Internet to pre-shop and research products using devices, including phones and tablets. The availability of information across a wide range of retail categories is significantly influencing cross-channel shopping behaviour. Today in the U.S., 52 percent of retail sales across 30 categories are directly influenced by the Internet. By 2018, this figure is expected to jump to 59 percent of all retail sales.1 In many European countries where consumer digital adoption has happened more quickly, these figures are significantly higher. Consumers transact digitally because it is convenient and easy. They use their mobile phones within the context of their shopping experience and expect immediate, relevant results. They also switch between phones, tablets and PCs and expect a seamless journey that complements or improves their in-store retail shopping experience. The availability of instant information at their fingertips is driving new consumer behaviours and pre-shopping in many categories has become the norm. To address these new trends in consumer behavior, traditional e-commerce is morphing into experience driven omni-commerce. Omni-commerce—the ability to seamlessly interact with your customers across all shopping channels—melds digital and physical in-store retail into an integrated shopping experience. So, whether the customer is researching, comparing, checking inventory availability or buying, retailers can ensure the customer’s journey is productive. E-commerce is transforming into experience driven, digital omni-commerce.
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