Digitization Is Impacting The Retail Industry Online And Offline

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Digitization has been a hot topic for quite some time now – but the speed at which offline retailers have had to digitize their sales and operations, due to competitive pressure and the many changes the pandemic has brought on, has been tough and impressive.

“We all will be closely watching the technologies Amazon is testing in their first physical clothing store which will allow customers to select items online to be waiting in their dressing room as well as access customer reviews. These are the types of in-store technologies that are helping combine a physical and digital experience,” says Cullum.Q-commerce or quick-commerce allows shoppers to get deliveries – typically for smaller orders – in less than an hour of making their purchase.

“As retailers are getting that blended data it is improving older systems, like BOPIS , which have been around forever but had weak adoption as processes weren't great. Now that brands and retailers have worked out the kinks, it has made huge strides,” says McKee. “Web 3 and the Metaverse are making luxury more accessible and more interesting to the chronically online consumer. Gamification of the purchase process and adding products into video games has brought in a new class of buyer who is looking for a more unique experience and some fun while they shop,” says McKee.

 

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