The Future of Retail — According to Shoppers

BUY ON DISPLAY THE FUTURE OF RETAIL–ACCORDING TO SHOPPERS Despite globally embracing online retail, shoppers still believe there will be room for their favorite brick-and-mortar shops in the future. In fact, a new survey reveals shoppers are ready for an elevated, cross-channel experience. Below, we take a look at what else shoppers predict for retail's future. SHOPPERS WANT ALL ACCESS Most shoppers recognize that a shopping experience is now possible through multiple channels; they expect this trend to blossom throughout the industry. of global respondents say that by 2014, multiple retail 60% channels, including web, social, mobile, and physical, will be the norm for most stores. 2014 SHOPPERS SEEK RECOGNITION The majority of respondents indicated they want a personalized experience, whether browsing online or while inside a store. of shoppers said they would want to be identified via their smartphone when shopping at brick-and-mortar of global respondents said they would welcome the idea of online 41% 61% stores keeping track of their browsing and purchasing histories to speed up future shopping. stores. PURCHASE RISTORY O HEART TOP S2so THE CHANNEL OF CHOICE FOR GLOBAL SHOPPERS ..... ..... ..... ....... Across all 16 countries polled, respondents indicated that web, not mobile or social, was the most important way for them to research products and shop. 80 PERCENT of respondents in DEVELOPING COUNTRIES and 63 PERCENT of those in MATURE MARKETS said the Internet was the top way they preferred to browse and purchase. 31% 69% 72% 72 percent of respondents from India, 69 percent of respondents from China, and 31 percent of respondents from the United States said they purchase more in a single online transaction than in one conducted inside a store. HOW CAN LOCAL STORES PLAY ALONG? ...... ............ ...................................:. The results of the survey clearly indicate that shoppers want their local shops to embrace the future they envision. of global shoppers say that by 2020, physical stores will exist primarily as showrooms, allowing shoppers to try out products before they buy them using alternative channels of purchasing and delivery. of respondents said they would spend MORE 56% money at brick-and-mortar shops if those 51% locations allowed them to browse through their merchandise online first. IS RETAIL READY? 30% of respondents said most retailers are not currently consistent across these channels. BUY Shoppers are making it clear that they're ready for the future of retail. The good news is that what they want isn't far off from what's possible. However, if retailers want to capture these futuristic shoppers, they should quickly start aligning all their sales channels to create a new personalized shopping experience that transcends the boundaries between online and off. Milo E SOURCES: CAPGEMINI.COM, INTERNETRETAILER.COM