The Week in Retail: The Future of Luxury Shopping

//The Week in Retail: The Future of Luxury Shopping

When it comes to retail, customer experience is key. Gregory Puoy, a digital marketing expert, has created a brilliant presentation that includes case studies and updated figures on the future of the luxury shopping experience. The presentation emphasizes that digital isn’t about changing everything, it should be implemented through little improvements to the overall consumer experience. (@gregfromparis)

Consumers are using their mobile devices more than ever before for mobile payments. In-store mobile payments will increase by more than 1,000% worldwide in 2015 with 5% of the world’s smartphones being used to make a payment in a store at least once a month according to Deloitte’s annual Technology, Media & Telecommunications (TMT) Predictions report. “2015 will be the first year that all mainstream mobile requirements will be addressed, making smartphone payment options easier, with user-friendly security in place.” says Jolyon Barker, managing director of global TMT Industry at Deloitte Global. (TechWeekEurope)

Mobile devices are increasingly used to research products and learn about sales.  Consumers’ use of mobile device for product research increased by 110% between 2013 and 2014. Shoppers are engaging with their mobile devices earlier in the path-to-purchase, with 81% researching items and 73% engaging with mobile advertisements on their personal devices before they visit a store. (RetailTouchPoints)

With mobile technology becoming more popular, people expect to be able to shop whenever they want and wherever they are. Consumers increasingly combine different platforms when making a purchase. Omnichannel changes the function of retail stores, and retailers are starting to respond. The Economist Intelligence Unit asked retailers what they have done to become omnichannel— not just with sales platforms, from physical stores to online and smartphone apps, but also whether they have joined up the various technologies being used, so that customers enjoy a seamless shopping experience wherever and however they buy. (TheEconomist)

Over 33,000 people attended the NRF’s 104th Annual Convention & EXPO that took place on Jan. 11th to 13th. A full recap of the event which includes photo sets, videos, session material and articles discussing trends and best practices from the three amazing and intensive days is now available. (NRF Recap)

 

2015-01-23T12:55:27+00:00