News by Topic
- Search Marketing
- Email Marketing
- Loyalty Marketing
- Mobile Marketing
- Social Marketing
- Viral Marketing
- Trends & Ideas
- Internet Marketing 101
EIU: By 2022 a third of UK retail will be done online
In their latest report, the Economist Intelligence Unit reveals that at least one third of retail in the UK will take place online 10 years from now.
In their report, "Retail 2022", the Economist Intelligence Unit predicts that significant growth will take place in the next decade. While about 13% of UK retail currently takes place online, by 2022 that figure will rise to around one third.
"The opportunities for retail over the next decade and beyond are enormous," says report author Jon Copestake, chief retail analyst at the Economist Intelligence Unit. "But where the future markets will reside and the way in which we will buy goods will change dramatically. Retailers will need to evolve to adapt to this new landscape."
Mobile and social media will play a significant role in shaping shoppers' purchase decisions, according to the research, while brick-and-mortar stores face the risk of being driven out of business if they fail to adapt.
To this end, the "showrooming" trend, is set to continue in the years ahead. "Shops would operate as little more than showrooms but will continue to act as a channel for consumers to see, touch and try out goods - even if they make purchases using other means," writes Copestake.
In the last six months alone, retail chains in the UK closed 20 stores a day on the country's high streets, thanks in part to a downturn in consumer spending but also due to the growth in online shopping.
- Nielsen research reveals countries least likely to embrace mobile-only banking
- Mobile use in restaurants - tolerable or taboo?
- Study: Shoppers want email contact
- New eBay ad targeting tool knows what mood a shopper is in
- Ad Roundup: Data key to new launches
- Top 3 tips to improve travel marketing strategy
- Millennials embrace marketing emails via mobile
- Video posts overtake photo posts by brands on Facebook
Featured White Papers
- How to Master the Art of LinkedIn InMail Prospecting
Learn how to improve your LinkedIn Inmail prospecting skills with this practical guide, complete with real-life examples....