It cannot be doubted that e-commerce continues to have high growth rates across the globe, and that it is increasingly taking a larger portion of the cake from all international trade.
But despite its growth, retail and physical stores continue to not only maintain its presence, but continues to grow.
The challenge is to implement solutions and business models in which both worlds feedback, and that the strategies aim to growth.
According to the latest PWC study, there are more and more people who decide to shop in physical stores. For example in Spain, consumers who attend these centers at least once a week have grown from 40% to 48% in the last four years. However, it also increases the number of people who consume and buy online (30%) with the same frequency.
Therefore, it seems increasingly logical that, in the near future, physical stores become mixed and interactive spaces. To do this, they must adapt their offer to complementary use experiences with electronic commerce. Given this natural evolution of the sector, there are 5 trends that will transform retail in 2020, as noted by the experts of Sensormatic Solutions, Johnson Controls Building Technologies & Solutions.
Optimization in the convergence between physical and online commerce will be the cornerstone of the change in the sector. There are, in fact, Think with Google studies that indicate that 20% of online purchases involve offline information processes. Meanwhile, 33% of physical purchases involve a previous online search. The key, therefore, lies in achieving a balance between the advantages offered by each purchase model. A good example of this
could be a system that shows the inventory updated in real time, or an efficient analysis of traffic in the store, to avoid queues at the cash desk and facilitate customer service.
The implementation of cloud services:
It appears as another turning point for the renewal of opportunities for retail companies.
There are services such as Google Cloud Platform (GCP), which allows stores to grow globally.
To do this, it uses the integration of software solutions for retailers in a centralized platform.
Thanks to this, they receive real-time information and predictive analysis to boost operational
excellence, helping to create unique experiences for buyers. On the other hand, Shrink
Management cloud services as a service (SMaaS) will allow predictive analysis and forecast losses. This system establishes a permanent remote connection and monitoring that offers businesses optimal protection.
360 user experience:
Different studies of the sector show that at least 40% of customers could pay 10% more if they receive an individual and personalized experience when shopping in a store. To improve customer service and adapt it to their new needs, physical stores are beginning to implement smart retail proposals. With this they seek to create a smart shopping environment, thanks to RFID or IoT technology. An example is 360 intelligent testers that analyze customer behavior discreetly and accurately. This system helps increase the conversion rate in this particular area.
In turn, it also serves to prevent loss in this space.
The environmental care seems to have gained its place among the concerns of the Spanish consumer. 41% of Spanish buyers recognize avoiding plastics in their purchases, as noted by the aforementioned PWC study. In addition, 37% of them consciously choose products with sustainable packaging. On the other hand, companies can also take care of the environment thanks to Sensormatic Solutions, which has original labeling programs. This involves the
incorporation of anti-theft sensors in the factory, reducing the environmental impact. This system has managed to recycle about 5,000 million hard tags, while generating 10 million of them in origin since its inception in 2010.
Technology has revolutionized the world of commerce, both physically and obviously online. It has changed the way of undertaking, doing business and interacting with business customers.
In addition, the use of computer equipment and devices connected to the Internet is increasing in small and medium enterprises. As a consequence, these companies, including physical stores, are much more exposed to cyber-attacks and theft of critical information.
Without going any further, the CNI indicates that the number of cybersecurity incidents grew by 43% in 2018, registering more than 38,000 attacks. Therefore, adequate preparation in cybersecurity will be essential for the evolution of the business model.
“The digital world is radically changing the retail landscape and retailers feel the urgent need to adapt their operations so as not to be left behind. In 2020 it will be the customer who defines his experience: how, where and when to buy, ”explains Carlos Gómez, Director of Retail Sales at Johnson Controls. "In today's hyperconnected world, the new Sensormatic Solutions is in a good position to help these thanks to the integration of digital and analog strategies in stores," said Direct Marketing.