Retailers
How will the retail landscape evolve?
The retail landscape is constantly changing, with the emergence of online stores, large marketplaces and brick-and-mortar stores. But what does the future hold for us and what techniques will transform this landscape? What practical implications will this have for you?
In just a few years, we have already seen significant changes. In recent years, online marketplaces have played a major role in retail. Mobile shopping has improved, making payments easier and faster than ever. Additionally, we have seen a renewed interest in offline shopping, but in a different form focusing on quality and experience rather than quantity and low prices.
Data interpretation will become more and more efficient in the future thanks to the advance of artificial intelligence and the increasing collection of data related to central systems. This will allow to have a better knowledge of the customer, whether he buys online or offline, and to further personalize product recommendations.
Augmented reality will become mainstream, with significant implications for the shopping experience. The likely arrival of Apple's glasses could transform the market, bringing the online and offline experience closer together. Customers could use digital overlays to shop online at a physical store or virtually visit a physical store from home. This will have a significant impact on the shopping experience and could transform the retail landscape.
Alibaba and Aliexpress, originating from China, are also becoming more influential in Europe. Small online retailers will need to focus on service and speed of delivery to stand out, as they won't be able to compete on price.
For retail players, it makes sense to start optimizing their data feeds and improving product presentation now. This will allow them to quickly adapt to the latest trends and be ready for future developments.
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