The retail sector is undergoing a profound transformation driven by the change in consumer purchasing habits and by the effects of digitization . Where is the retail sector heading today? We review some of the main trends mobile number in china that are marking its evolution. The transfer of sales to e-commerce continues to grow
According to data from Statista , the business volume that moves e-commerce worldwide already represents 14.1% of total sales in the retail sector. At first glance it may seem like an insignificant figure even compared to purchases made offline, but the transfer of sales to e-commerce is remarkable and is accelerating: it has doubled in the last four years.Percentage of sales represented by e-commerce with respect to the global one in the retail sectoPercentage of sales represented by e-commerce with respect to the global one in the retail sector
One of the effects of this trend is the increase in the number of physical stores that have closed around the world . Sangria in the United States breaks records and, according to the firm Coresight Research , in 2019 9,275 stores closed in the country, 35% more than the 2018 figures. On the other hand, in Europe the disappearance of physical stores continues to advance , albeit at a more moderate pace. The Center for Retail Research recorded the liquidation of 2 051 stores in 2019, slightly down from 2 594 the previous year.
. Stores vindicate their role in maximizing sales
Physical commerce continues to have value for the consumer. According to the State of Brick & Mortar Retail Report from ServiceChannel , 86% of customers make more than half of their purchases offline (young people also: 82% in the case of millennials or Generation Z) and 84% affirm that the physical environment is very important in your buying process . The same study shows that sloppiness pays dearly: more than half of customers will never set foot in the store again after having a bad experience . In addition, despite the fact that the integration of new technologies is highly valued (for example, the availability of Wi-Fi network stands out with 37% favorable opinions), order, cleanliness and the availability of stock remain paramount. In this sense, retailers should take note and invoke the back to basics when investing in their establishments .Omnichannel, key in the business strategy of retailers
Online-offline borders are increasingly blurred in the retail sector. Proof of this are some technological advances such as augmented reality , which seek to bring the online environment closer to offline, or the deliveries of BOPIS (Buy Online Pick-In-Store) packages as a way for physical establishments to reinforce purchases on the e- commerce.
And, according to Google’s Consumer Insights , 74% of customers use the online channel before reaching the store to check the products in the e-commerce and data such as available inventory, address or hours. Once they are there, they continue to interact online looking for information, offers or coupons from their smartphones. These habits should be taken into account not only to optimize the web version gulf email list of e-commerce , but also to launch click-to-brick advertising campaigns . It seems that we are witnessing the great crisis of the retail trade but, at the same time, the pure players are promoting showrooming with the opening of commercial premises or pop-up stores where they can display their products. Behind this apparently contradictory trend lies the need, on the one hand, to reinvent commercial spaces and, on the other, to create joint strategies where both worlds, online and offline, converge without friction to boost sales. DAVID MORENO , DIGITAL MARKETING CONSULTANT AT LABELIUM
4. Audiovisual content marks the new buyer’s journey in retail
With increasingly complex customer journeys and a greater number of devices and channels taking part in the purchase decision, audiovisual content , both video and digital audio , have proven to be a very effective option to achieve online visibility in the sector retail. Social media continues to be a fantastic testing ground for identifying trends and new customer demands. However, it is still a changing scenario and the popularity of videos on Facebook or Instagram is joined by the emerging TikTok , which has made this format its hallmark.On the other hand, online video campaigns are no longer limited to impacting users who are in the discovery or TOFU phase to present products and get views. For example, YouTube’s TrueView for Action ad format allows you to set conversion goals with specific actions such as driving traffic to e-commerceThe retail sector faces an irreversible transformation process
Some see in this time of ups and downs the so-called retail apocalypse starring massive store closures around the world, while others consider the network of physical stores an essential complement for the long-term success of e-commerce. What is clear is that profitability depends on creating consistent and relevant brand experiences for the user in order to boost their loyalty.