Mobile commerce to drive retail innovation in 2016
In this article (5)
The pervasiveness of mobile commerce will present some of the biggest challenges that will impact retailers’ strategies during 2016, according to latest predictions from Manhattan Associates, Inc.
In 2016, retailers will also be impacted by more personalised shopping and rapid migration to customer-centric retailing.
Retailers should make informed choices about what is right for the consumer and what is right for the business.
They should strive to make the shopping experience personal and frictionless, re-define the role of the store assistant and recognise the power of Millennials.
In addition, they should embrace mobile to achieve customer-centric retailing success and deliver faster, and be more flexible with returns.
“Growing consumer demand, expectations for a more personalised shopping experience and increased mobile use will cause retailers to make some fundamental changes in 2016,” said Richard Wright, managing director, Southeast Asia at Manhattan Associates. “We have therefore identified five key areas in which retailers can focus attention, to not only achieve customer satisfaction but also to drive business growth and profitability.”
Digital personalisation success
Inspired by the digital personalisation success, retailers are now eyeing in-store experience as they recognise the rise in customer expectation and the differentiation personal service can offer.
Retailers are beginning to understand the importance of store assistant to the overall shopping experience and the business. Predictions from Manhattan Associates alsoindicate that Millennials or Generation Y treat their mobile phone like an extension of their family and are always looking for an Internet connection.
Mobile has begun to play a more important role in browsing, buying and paying for goods.
Price is the number one attraction for two-thirds (67%) of shoppers across both online and in-store shopping.
Questions & Answers
Q.What is predicted to significantly impact retail strategies in 2016?
What is predicted to significantly impact retail strategies in 2016?
The widespread use of mobile commerce will present major challenges that will affect retailers' strategies throughout 2016. Retailers will also be impacted by more personalised shopping and a rapid shift towards customer-centric retailing.
Q.What are retailers advised to do to adapt to the changing retail landscape?
What are retailers advised to do to adapt to the changing retail landscape?
Retailers should make informed choices, strive for personal and frictionless shopping, redefine the store assistant's role, and recognise Millennials' influence. They should also embrace mobile technology for customer-centric success and offer faster, more flexible returns.
Q.What is the primary factor attracting shoppers across both online and in-store experiences?
What is the primary factor attracting shoppers across both online and in-store experiences?
Price is the main attraction for two-thirds, or 67%, of shoppers, whether they are shopping online or in physical stores. This factor is consistent across both retail channels.
Q.How do Millennials typically interact with their mobile phones?
How do Millennials typically interact with their mobile phones?
Predictions indicate that Millennials, also known as Generation Y, treat their mobile phone as an extension of their family. They are consistently looking for an Internet connection.
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