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Between the confluence of the Web and e-commerce and the rise in hours at work for U.S. workers, brick-and-mortar visits are becoming worryingly infrequent. Online shopping is rapidly overtaking high-street sales with the U.S. Department of Commerce spotting a 3.4% quarterly pickup in e-commerce sales compared to 0.6% for brick-and-mortar retailers during the fourth quarter of 2013.
However, thanks to modern technology, traditional retailers now have a chance to fight back. Strategy consulting firm Control Group put together a thorough report examining several emerging trends in retail technology. Especially, state-of-the-art technologies that make dynamic pricing for brick-and-mortar retailers could indeed enable them to turn the tide in the battle of clicks versus bricks....
....Web and e-commerce and the rise in hours at work for U.S. workers, brick-and-mortar visits are becoming worryingly infrequent. Online shopping is rapidly overtaking high-street sales with the U.S. Department of Commerce spotting a 3.4% quarterly pickup in e-commerce sales compared to 0.6% for brick-and-mortar retailers during the fourth quarter of 2013.
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My focus and experience is non-food retailing. Today's customer for retail is already purchasing from many channels under the same name plate. She (and he) have been aware of multi-channels for several years and will continue to do so for the future near and beyond. Don't fool yourself into thinking that the "multi channel" customer is a fad!
The smart retailer today follows their customer (hopefully by name, address both postal and email, at a SKU level and then trends this robust customer data over time) on all channels.