Technology Trends Transforming the Retail Landscape
The changes that have occurred in retail since the arrival of the internet are nothing short of remarkable. Every aspect of shopping patterns and spending habits has been affected, including a sharp rise in retailer competition. Each of these features will continue to evolve with the addition of new technology.
First things first, it’s clear that consumer’s comfort level with online shopping has increased drastically. Amazon alone sold 306 items per second on Cyber Monday. Developing online storefronts versus committing costly resources towards opening brick-and-mortar stores is the only way to go. Companies are acknowledging that having a solid virtual presence is where the real opportunity lies. This means it’s no longer possible to just put together a quick storefront online for the sake of a digital presence. Consumer expectations have risen along with their comfort level. Web designers have their work cut out for them now more than ever. Investing in an organization with a strong understanding of creating a positive Consumer/User Experience is mandatory. An excellent example of this in international eCommerce is presenting the consumer with the full landed cost prior to checkout. Domestic shoppers have always had access to the final cost. Now, global shoppers expect the same experience (shipping, duties/taxes included). This is part of the service that Bongo International provides to Miva Merchant clients.
Social media is not mentioned in the article, but sharing experiences on social platforms is now the standard. Another item on the list in the shift towards e-commerce is the increasing reliance on smartphones and apps. This is a major transformation for retailers who must keep up with these technologies in order to stay relevant and succeed. Constant price comparison and purchasing research has resulted from the proliferation of mobile devices. Lastly, is the use of mobile devices for the in-store shopper, not just for shopping on-the-go or from the convenience of the couch. The in-person shopping experience is now more interactive and efficient than ever before. Read the full article in Forbes here.
Bongo International is the fastest growing international E-Commerce solution designed to help US-based merchants expand their business to the global market. Their modular approach enables them to create a custom international solution for each US retailer.They screen all international shoppers to prevent fraudulent orders, resulting in an impressive 0.0% fraud rate throughout company history.