Digital Developments That Are Impacting Retail
There is no doubt that technology is constantly changing the world, and as a result; retail is being directly impacted by new digital developments. As consumers, we are no longer restricted to traditional shopping methods as online shopping now provides a range of different services that offer the ultimate convenience.
Increase of E-Commerce Sales through Digital DevicesSales through digital devices have soared in the last 5 years and the number of digital buyers worldwide has increased from 1.32 billion in 2014 to 1.79 billion in 2018. They’re also expected to reach 1.92 billion by 2019. These massive numbers reflect the increasing demand for enhanced digital experiences for customers, as more and more people now prefer doing their shopping online – even 28% of seniors have embraced new technologies and prefer online shopping to traditional shopping methods.
Rise of Subscription Box ServicesSubscription boxes have become incredibly popular over the past few years, with online visits to subscription box sites rising from 43.3 million in 2015 to 76.7 million in the UK alone.
The concept of a subscription box is simple yet effective; it revolves around the visually attractive element of their packaging which is hugely important as 93% of consumers surveyed claimed that appearance was the main attraction towards purchasing a product.
The ease of ordering online and setting up repeat deliveries for a whole host of items such as fresh food and health and beauty products, is not only convenient but also helps in customer retention. You can now have a weekly food shop delivered in just a click!
Convenience of Click and CollectOnline shopping in itself is incredibly convenient and time-saving, you can also save a great deal of money when you online shop instead of browsing brick and mortar shops. Not only can you place an entire grocery order online from the comfort of your sofa, but you can also have it delivered at a time that suits you or you can simply ‘click and collect’.
All of these options are super convenient - you can even order a food shop online and have it delivered the same day if a slot is available. You won’t just save valuable time opting for these online methods, but you can also save money as it prevents you from buying things you don’t really need, but may be tempted by when out shopping. Simply make a list of exactly what you require, and have it with you in a matter of hours!
How to Keep up With Digital TrendsIn order for retailers to keep up to date with emerging digital trends and cater to current consumer’s needs, there are a few simple steps they can take:
- Monitor customer behaviour both online and in-store so you have a better understanding of their needs
- Streamline all processes to improve the customer journey
- Keep up to date with what your competitors in the industry are doing
- Embrace new technology and opportunities to further develop your services
- Assess your product packaging – what would your customer prefer? Can your overall branding be improved?
- Be aware of new consumer trends such as subscription boxes.