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Mapp: How accelerated digital transformation has changed (physical) retail
Mapp just published a interesting story:
The retail and eCommerce landscape is rich, diverse, and constantly evolving, fueled by a continuous supply of digital optimization tools in a challenging digital transformation environment. In 2019, a total value of $3.4trillion sales was carried out in the global online marketplace and by this year, online retail sales are set to reach $4.8 trillion. According to Business Insider, in the US alone eCommerce represents almost 10% of retail sales — a figure that is growing by nearly 15% each year. Despite the steady rise in eCommerce adoption, 86% of total retail sales is still taking place in physical stores. Yet, most consumers’ online identities remain disconnected. According to the latest report from Westfield, 56% of shoppers are frustrated by inconsistent and inaccurate online recommendations. 74% of shoppers will try a new brand on impulse in-store and they’re more than twice as likely to impulse shop in-store then online. As…
Read the original here: How accelerated digital transformation has changed (physical) retail
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