Walmart, the biggest retail chain which boasts of a huge brick and mortar set-up across major countries in the world, announced fives years ago that it’s biggest competition in the coming years will not be from another brick and mortar giant but from the world wide web and the rising e-commerce wave. Around the world, this is a buzzing argument that with e-commerce growing and reaching even the deepest and darkest corners of the society, will brick and mortar retail showrooms face a tough competition so much so that their survival will be questioned? Those who have limited understanding of the digital world may believe yes, the e-commerce will threaten and eventually wipe off brick and mortar, however those who understand that technology is independent of the medium it is applied on, will say no. E-commerce will only create more opportunities for shopping rather than threated the existence of brick and mortar set-ups. Proved by the fact that retail outlet chains like the Walmart, Ikea, etc. are only expanding further with the help of technology.
Particularly in the Latin America Connected Retail Solutions Market, with the penetration of technology, both at frontend and backend of the supply chain, the industry is thriving. Not only has technology changed the way a product is being sold but technology has also influenced the way customer retention is carried out. Here’s a look at some of the upcoming trends.
1) Being one the fastest growing smartphone markets, Latin American retail is greatly influenced by experiential shopping. Consumers are well informed about the price, the benefits, and the competition around a product. Hence, retail outlets are diving deeper into creating an environment where the experiential shopping preference of the consumer can be taken care of.
2) The rise of Latin America Connected Retail Solutions Market indicates that retailers are willing to go the extra mile to provide a holistic experience to the consumer. From creating awareness about the superiority of their product to providing various kinds of payment solutions, to door-step delivery of the product, retailers are not leaving any stone unturned to make the shopping experience from a brick and mortar set-up an equally satisfying one.
Particularly in the Latin America Connected Retail Solutions Market, with the penetration of technology, both at frontend and backend of the supply chain, the industry is thriving. Not only has technology changed the way a product is being sold but technology has also influenced the way customer retention is carried out. Here’s a look at some of the upcoming trends.
1) Being one the fastest growing smartphone markets, Latin American retail is greatly influenced by experiential shopping. Consumers are well informed about the price, the benefits, and the competition around a product. Hence, retail outlets are diving deeper into creating an environment where the experiential shopping preference of the consumer can be taken care of.
2) The rise of Latin America Connected Retail Solutions Market indicates that retailers are willing to go the extra mile to provide a holistic experience to the consumer. From creating awareness about the superiority of their product to providing various kinds of payment solutions, to door-step delivery of the product, retailers are not leaving any stone unturned to make the shopping experience from a brick and mortar set-up an equally satisfying one.
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