There is no doubt that recent tech innovations are making it easier for people to do their Shopping online. For example, smartphones are increasing in size and speed, making the shopping process easier when people are out and about.
However, there are still many people who prefer to actually see an item in person and touch it before deciding to buy, making it unlikely that physical shops will be going extinct at any time soon.
Mobile devices are expected to be a critical player in the future of the retail industry, especially since they already account for more than half of online searches. An obvious downfall of using a smartphone over a desktop or laptop is that smartphones are not able to display that many products at one time, making the shopping process more time consuming.
While ecommerce is experiencing a faster growth rate overall, the majority of retail sales are still happening offline. In response to these shopping trends, some retailers are finding ways to integrate technology into their showrooms and shelves. For example, some stores have interactive tablets, while others provide mobile promotions used through the smartphones’ location settings.
Some of the biggest retailers in the world have already started to move much of their development efforts online. For example, Target went online back in 1999, and a recent study as of April 2018, it had 3.953 billion dollars in revenue, as estimated by redbrain..com.
It has created an interactive app for its users, and is doing a lot more to improve the online experience for the users. It is also improving its digital offerings with the same and next day delivery services being tested in several locations.
Target, like many other Companies, is now on the right path, but still has a lot of work to do when it comes to competing in a digital-first environment.
You can find out about how other large businesses are working to improve their online presence in the infographic below.
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