The Future of the Store
Retailing is described to be any action in which a product and/or service is being sold to the ultimate consumer. Simply stated, but the execution of the retail strategy is what will make the product and/or service a success. I believe, that the biggest change over traditional retail is the advancement in technology in today’s world. With that being said, the future of the store has many changes to come and advancements to make. I feel that by the year 2020 the consumer can expect great changes that include, virtual shopping, smaller more personalized footprints, and accessibility through all commerce platforms to fit their needs.
When we, as consumers, are shopping we want to get in out of the store with no hassle or frustration. Long lines, crowded stores, and picking through merchandise takes too much time for the on-the-go consumer. Virtual shopping, which includes picking out or even “trying on” merchandise, through a touch screen pad is what to be expected to show up very soon in stores and online. According to the New York Times, stores like H&M and Tommy Hilfiger are testing this theory by taking photographs modeling the virtual clothing and evening uploading the photos to Facebook. The virtual fitting room is not only going to save time for the consumer and sales associates in the stores, it is begging to reshape online shopping. “While apparel offers the largest sales value of e-commerce sectors, clothing sales via the Web remain at just 7 percent” (Phillips). This is because the consumer has not tried the item on and return rates account for more than half the sales. So, the virtual fitting room online will help allow consumer to “try on” before they purchase while still having the satisfaction of shopping at their own convenience. Retailers will benefit by having lower return rates and great customer satisfaction by following up with trends. As a consumer who shops brick and mortar specifically for the touch/feel...
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