Despite the rise of e-Commerce, online channels will only account for 6.7% of global retail sales by the end of 2015, according to eMarketer. That means brick-and-mortar will make up approximately 93.3% of the predicted $1.6 trillion in worldwide retail sales this year.
Although eMarketer’s projections and several other studies have affirmed that brick-and-mortar is not dead or dying, it is experiencing a rebirth of sorts, fueled by consumers’ constant connectivity to digital tools and information.
In order to remain in the long-term competitive mix, brick-and-mortar retailers must rethink the role and overall value of the store, and further integrate it into consumers’ digital interactions. Some brands are creating their own versions of the store of the future by embracing virtual dressing rooms, kiosks, beacons, interactive displays and other digital technologies.
“There is more pressure to make the store a differentiated and emotionally compelling experience,” said Laura Davis-Taylor, EVP of Customer Experience at MaxMedia. “Retailers are actively designing the store into what I call an ‘experience ecosystem.’”
Download this special report to learn how Rebecca Minkoff, Neiman Marcus, Target and other retailers are implementing cutting-edge technologies to build the store of the future.