Retail Trends In The Next Five Years [TABLE]
Given the myriad of shopping options that consumers now have at their disposal, 75% of US retailers believe that developing a more engaging in-store customer experience is going to be critical to their business in the next 5 years, according to a Motorola Solutions survey released in June 2012. And with mobile having a significant impact on retail, a significant proportion expect to adapt by providing personalized product details, based on previous behavior, to a shopper’s smartphone.
In fact, retailers believe that 42% of sales will come from online, mobile, and social commerce sites in the next 5 years. This is not an outrageous projection, given the meteoric growth of e-commerce. According to recent comScore figures, retail e-commerce’s 17% year-over-year growth in Q1 marked the 10th consecutive quarter of positive year-over-year growth and 6th consecutive quarter of double-digit growth rates. Read the rest at MarketingCharts.