They want to go to your website and be able to compare prices, styles, delivery dates, see your recommendations of things they may like even more--preferably all on one screen. - https://amzn.to/2GOEqw1Retail shopping will change more in the next 10 years than it has in the last 1000 years. The rapid pace of change currently reshaping retail has been accelerated by the ongoing Coronavirus outbreak, with the transformation expected to continue well beyond the end of the pandemic. 22 July, 2020 | by The Retail Bulletin September 9-10: Adapting Your In-store And Online Omnichannel Strategy The biggest challenge in retail customer experience especially since the arrival of the global pandemic, is expectations around real-time response. I’m the Chief Commerce Strategy Officer at Publicis Communications. Even beyond augmented reality, we’re going to see an increasingly confusing mix of digital/virtual and reality in the coming year, especially in retail via the spatial web. The savviest retailers will be gathering that information from endless sources like social media to IoT sensors and using AI and deep learning to make the shopping experience as easy and personalized as possible. Again, AI is taking the lead in these technologies, making things like visual search possible. I am a fourth-generation retailer, who has been helping brands and retailers respond to digital disruption for 30 years. Department store sales finished in 2020 down 17% from 2019, and the apparel category was down a whopping 26% for the year. Digital transformation is a top concern of senior leaders worldwide and motivated the development of this study. The MarketWatch News Department was not involved in the creation of this content. SimilarWeb data reveals that the bulk of those traffic increases went to top 20 sites other than Amazon and eBay (the two largest e-commerce sites in the U.S. by traffic), indicating a significant new customer acquisition opportunity. We’re in the midst of a pandemic on one side and the retail apocalypse on the other. The Retail Indicators Branch of the U.S. Census Bureau reports that April 2020 saw the sharpest one-month drop in retail sales on record. 2020 will be the year where it is virtually unnecessary to see, feel, or test a … Studies show that, This is an important trend that will continue to come to the top of the list for at least the next few years. For CMO’s and business leaders, investments in advanced analytics platforms that can leverage the power of machine learning and AI is critical to retail success. Holiday shopping began much earlier, with more than half (52%) of shoppers making holiday purchases through early sales and promotions before Thanksgiving, according to the National Retail Federation. But Amazon’s recent shift to free one-day shipping shows that they’re getting even less patient. And I’m not just talking about virtual changing rooms. Retail has been rapidly evolving and 2020 will be no different. Today’s consumers are far more likely to be informed by their favorite micro-influencer on YouTube, Instagram, or TikTok. Want to learn more? I’m the Chief Commerce Strategy Officer at. Retail Dive provides news and analysis for retail executives. The retail playbook is in the process of being re-written. In May 2020, retail e-commerce sales in Canada reached a record $3.9 billion, doubling total sales from February. The rapid shift in consumer habits has widened the gap between businesses with an online presence and businesses who are still relying entirely on brick-and-mortar locations. Gone are the days when consumers choose their styles from glossy magazines reporting on the latest trends from the Paris fashion shows, and when merchant princes could win fame and fortune through their unique edits of merchandise assortments. Provides news and analysis for retail executives leaders worldwide and motivated the of. 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