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BizReport : Ecommerce archives : June 14, 2018

Study: Future of Retail is choice

New data out this week indicates that shoppers are more inclined than ever to buy online, but it isn't just the convenience of e-shopping that appeals to many consumers. Choice also tops the list, and the ability to shop from anywhere at any time.

by Kristina Knight

Walker Sands has released the latest Future of Retail report, and among the more interesting findings is this: faster deliver is no longer a "nice to have" it has evolved into a "must have". Researchers found that nearly half (44%) of consumers have used same-day delivery services within the past year. What's more, consumers aren't just looking for new shoes or a jacket online. Emerging product categories - like groceries and prescriptions - are becoming a big deal for many shoppers. Just over one-third (39%) of consumers report they are likely to make a grocery purchase online within the coming year, and 35% are open to using Amazon to fill prescription orders.

These are just two of the reasons experts believe merchants, both online and offline, need to begin thinking outside the box when it comes to engaging shoppers.

"As the lines between retail and other industries blur, brands and retailers need to transform the commerce experience into a more integrated part of the consumer lifestyle. Commerce is no longer about an intentional decision to go in store or online to buy a product. It is now about connecting with consumers in their everyday lives and offering them the ability to browse, research and purchase when and where it's convenient to them, " said Erin Jordan, retail technology practice area lead at Walker Sands and author of the report. "Going forward, the brands and retailers that find new ways to engage consumers beyond traditional commerce will shape the future of retail."

Other interesting findings from the report include:

▪ 72% of shoppers under age 36 own at least one connected device other than a smartphone or tablet
▪ 93% of those between ages 18 and 25 have a non-smartphone/tablet connected device
▪ 65% say the current presidential administration "has impacted" their shopping behavior
▪ 41% receive at least one package from Amazon each week

The full Future of Retail report can be accessed here.

Tags: advertising, connected devices, ecommerce, ecommerce trends, Future of Retail report, mobile marketing, retail trends, Walker Sands

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