Multichannel transformation requires adoption of technology that dissolves the boundaries that create an operational divide across various retail touch points. As retailers continue to see rapid shifts in customer demands, competitors’ capabilities and available technologies, the pressure for Multi-channel transformation has reached a tipping point.
Retailers are investing, but it is of prime importance for them to know which capabilities are most important.
The infographic below highlights the new phenomenon observed in Retail indicating that almost one-third of the shoppers of the top 10 retailers whether big or small use smartphones and tablets to make purchases. In a recent event India’s biggest online retailer Flipkart took just 10 hours to hit its target of $100 million in gross merchandise value (GMV), or the value of goods sold, , when it hosted its Big Billion Day sale
The mobile commerce trend is now picking momentum and empowering customers to engage more with retail sites, apps and transact easily. This calls for retailers to adapt to this ever-changing landscape if they wish to succeed in this realm.