Technology transforms the way we shop, making consumers more and more connected. The point of sale of the future offers new opportunities for businesses.
When it comes to us and our habits there is always so much to say and so much to remember. As you will see in this article, the habits of all of us have changed. One type of change concerns purchases and the way to make them.
This change has certainly been stimulated by various factors and events that have occurred. In this regard, we cannot fail to mention the pandemic.
Obviously there are also other aspects that are to be considered and in fact this article will do just that. We will talk about digital retail, we will try to understand what it consists of and the aspects that revolve around it.
Retail detafication: a look to the future
Today we hear more and more often about “retail datafication” which has become a reality that more and more companies have to deal with. All of this has to do with the concept of “purchase” that is changing today.
Consumers are increasingly connected and can buy at any time of their day. In fact, online purchases are increasing with increasing awareness, so much so that it is assumed that this trend will tend to increase in the coming years as well. And it is precisely because of this trend that is becoming more and more a reality today that the world of retail is increasingly questioning itself in terms of perspective for the future . In fact, it seems that everything we are experiencing is discouraging physical sales.
What should we expect? And how will things change in the near future? We will try to discuss it together in the next article.
Digital retail market in Italy
As mentioned, digital retail today is becoming an ever greater reality that involves many of us. In fact, it seems that there are no more boundaries between the online and offline worlds; purchases can take place at any time and in any place.
Obviously this also involves a change in terms of personalizing your purchases. It seems, in fact, that we no longer tend to be satisfied with what we can physically buy. What is catching on is customization and the possibility of having everything you want thanks to just one click. This obviously leads to real changes in the world of commerce.
This trend is also present in Italy. According to Statista, in 2022, the digital retail market in Italy is worth 45 billion euros and will grow by 15% annually until 2025.
Clearly, these data lead companies to focus even more on digital, trying to invest in customer loyalty. Above all, creating an emotional and personal relationship . Precisely to do this we will try to make the most of digital and also the data that derive from it. And in fact, it is estimated that around 95% of Italian merchants will continue to invest in digital transformation and 53% are optimistic about business growth by 2022.
What are the challenges for retailers?
Precisely because of all these changes and also in view of future ones, one wonders: what will be the challenges that retailers will have to face ?
Surely the first challenge has to do with the creation of a new business model that is therefore suitable for the digital transformation that is taking place. In this regard, it will be necessary to look for new ways to get in touch with users who have changed their purchasing habits in this period. These changes have occurred due to various factors including the global pandemic.
In fact, during this period, users experimented with new purchasing methods which therefore also encouraged the establishment of new habits .
For example, more and more people are buying online because they have learned to trust this method during the pandemic. Today, in fact, 34% of the population who have experimented with online purchasing methods spend more than people who shop exclusively in stores.
It is precisely for this reason that the way the various companies present themselves is also being renewed. It is important to be present on the various digital channels as the choice of purchase starts from there and, often, also ends online.
Furthermore, the other challenge is that of customer care . If previously it took place physically at the point of purchase, today it takes shape through new methods. For example, a real revolution is the possibility of returns, which is also one of the reasons that encourages online purchases . This certainly involves management costs on the part of the retailer which therefore must be calibrated and thought out.
This is why we are increasingly thinking of circular logistics in which the return process is more fluid and easier. Added to this are also the various actions designed to optimize waste and avoid that there is a waste of general resources. This is yet another challenge.
- Business & Retail, 53% of merchants are optimistic (quifinanza.it)