Advertisement

‘Suggested Selling’ In Stores To Top 51% By 2019

As the store’s role continues to evolve with consumer shopping preferences changing, omnichannel retailers aren’t just dabbling in personalization; they’re betting the farm on it. While currently just 7% of retailers use suggested selling based on what’s in the customer’s closet, that percentage is expected to jump to 51% by 2019 — a 629% increase, according to Boston Retail Partners (BRP).

In November 2015, BRP highlighted in its Future Store Manifesto that retailers are changing their initiatives to align with five key future store imperatives: mobile, relevant, personal, ubiquitous and secure. One year later, BRP followed up the report with a scorecard identifying where retailers have taken strides in these categories, projecting mobile and relevance will see the biggest growth in the store of the future:

  • 20% of retailers presently use mobile POS, but this percentage is expected to jump to 78% by 2019;

    Advertisement

  • 39% of retailers offer associates a mobile or tablet app during their time on the sales floor or checkout line; this percentage will increase to 75% within three years;

  • 18% presently utilize geolocation, with this total growing to 58% by 2019; and

  • 22% offer real-time contextual promotions, with the number jumping to 68% within five years.

To keep up with consumer demand, half of retailers expect to offer “start anywhere, finish anywhere” transactions within five years, with 73% expected to utilize a unified commerce platform with a centralized order management solution by 2019.

These retailers are expected to up the ante with their in-store security measures as well. As many as 88% are planning to have end-to-end encryption (E2EE) implemented to ensure data security by 2019. While 20% use a single enterprise-wide token solution now, this number should jump to 72% within two years.

“It is impressive to see how many retailers are making the five critical elements of the future store a top priority; however, many retailers have a long way to go,” said Ken Morris, Principal at Boston Retail Partners in a statement. “The physical store will continue to be the heart and soul of retail operations for the foreseeable future, however, a transformation is in process. While the store isn’t going away, it’s already starting to get a whole lot more connected, mobile and smarter.”

Featured Event

Get free access to tactical tips, invaluable insights, and deep-dive conversations that will help you hone your strategies for Q4 and beyond. That way, you can be sure to be on shoppers’ nice lists this holiday season…and all year long.

Advertisement

Advertisement

Access The Media Kit

Interests:

Access Our Editorial Calendar




If you are downloading this on behalf of a client, please provide the company name and website information below: