Here’s just 4 of the ways that technology is influencing the way we shop this holiday season:
E-commerce
- The rise of e-commerce means it’s very easy to spend money, you can purchase almost anything from the comfort of your sofa and your items will be delivered directly to you – sometimes on the same day! If you’re a disciplined buyer, this convenience is a great thing.
- Last year over online sales made up for £91bn of all retail sales in the UK and 30% of all shopping is now done via e-commerce.
- To meet consumer expectations retailers must work to deliver streamlined and outstanding e-commerce shopping experience that matches that of their bricks and mortar stores.
Savvy shoppers
- The internet has allowed consumers to become much smarter shoppers. Everyone has instant access to product reviews, information, availability and the ability to check and compare prices before they make a purchase.
- Consumers also have access to discount and deals that may not be available on the high street. Hundreds of deal and discount websites have popped up over the years, making deal finding easier than ever.
- Retail brand should stay ahead of the game, monitoring what their competitors are doing and offering what others aren’t.
Delivery and returns
- The 2016 Deloitte Retail Sales Survey found that 71% of consumers say free shipping is an advantage of ordering products online. The convenience of products coming to you, or the option of ‘Click and Collect’ from a location and time that suits you has boosted e-commerce sales in recent years.
- Technology has made returning an item a much easier process as cash refunds can be made online at the click of a button and items can be returned for free, in some cases even collected for you.
- Retailers and their logistics partners must have an effective delivery and reverse logistics process plan in place to cope with the surge in demand around this time of year.
Social media
- Due to the rise of social media consumers are much less influenced by paid marketing and prefer to listen to organic content and the opinions of their peers.
- Before making a purchase, consumers will turn to their social networks, asking friends and the rest of the consumer market to gain feedback and reviews on products before buying.
- Retailers should have a strong social media presence, monitoring what consumers are saying about their brand and products so they are able to mitigate any negative communication and resolve complaints. Retailers must also be using social media to build their brand personality and engage with their online communities.
With Christmas fast approaching, it’s clear that this year more than ever, consumers plan to spend as much online as they do in store, mainly due to convenience and cost benefits. Only the companies that embrace these technological advances will gain an advantage and momentum way beyond their peers. Shopping habits have radically changed and it requires radical solutions to stay ahead of the game.
