How will retail change next year? How will be it in 2020? What are the trends that will transform retail?
The real convergence between online and offline retail
This will be, for sure, the big turning point in the sector. Several studies maintain that, of every five online purchases, one involves offline search processes and, conversely, one of every three offline purchases is preceded by queries in the online world. We can achieve that balance through, for example, systems that show inventory availability in real time or systems that show how the user moves throughout the customer journey. Systems such us people counters that can help avoiding queues and increasing revenue from 5% to 10%.
Cloud services implementation
Cloud will be the main engine of opportunities for retail companies around the world. For example, Flame analytics Platform which allows stores to integrate different solutions into a centralized platform, providing real-time information and predictive analysis to boost operational excellence and create unique experiences for buyers.
Customer experience 360
Various studies show that 43% of customers are willing to pay 10% more if a store offers them an individual and personalized experience. To meet these expectations, physical stores are supported by smart retail proposals, like Flame analytics, that allow them to create smart stores thanks to technology.
Environment care has definitely been installed in the consumer´s imaginary. Acording to a PWC study, 41% of Spanish buyers acknowledge avoiding the use of plastic in their purchases and 37% choose those products with a more sustainable packaging.