There are a number of trends in the business landscape that affect the way that merchants operate. Those that fail to get on board with these changes run the risk of falling behind the competition and having consumers look elsewhere for the shopping experience that they want.
A recent article from Entrepreneur examined one of these trends — mobile devices. In 2013, $235.3 billion was spent shopping online and more than $3 trillion was estimated to have been spent in-store. However, mobile devices influences $1.5 trillion of those sales.
This has happened because of a trend known as “showrooming” or “webrooming.” This is where organizations head to brick-and-mortar locations to look at a product but pull out the smartphone and check other retailers to see if there is a better deal or a coupon available.
The article mentions that 84 percent of shoppers use some form of digital device for shopping-related activities before making a shopping trip.
“The fact is, traditional retailers are leaving too much money on the table and are allowing strictly online retailers to capture a growing share of revenue that could be theirs,” the article reads.
There are a few ways that retailers can do this. Not only do businesses need to make they have a working online experience for customers, but they also need to have the right point of sale software with inventory reporting that can be used to manage this omni-channel approach. Technology is changing the landscape and merchants need to get on board before they run out of time.