The internet has changed (almost) everything we do.
Not that long ago, business transactions between a supplier and customer were ‘confirmed’ by fax or a mailed letter. These days almost everything is done by email.
Searching for products and services has also changed. Have you seen the size of the yellow pages recently?
In the consumer market, films were rented from video shops, which has since been replaced by the likes of NetFlix and Amazon.
Does anyone watch terrestrial TV anymore, or do they binge watch everything on catch up?
The likes of Virgin Megastore (remember that?) and HMV are all but (nearly) distant memories having been replaced with Apple Store and other streaming services.
(Other record shops and download facilities are available… or were!)
The internet of things…
And now, we have the ‘internet of things’. Your fridge can order your groceries and you get a push notification on your phone when the kettle has boiled…
Ok, some things are really pushing the envelope and are maybe solving problems that don’t exist.
But, the list really does go on…the internet is truly changing our lives.
The Retail Sector
Despite all the above, the high-street is still doing….ok.
We still want to try on clothes before purchasing. At least I do. And we like the convenience of buying goods ‘now’ and not waiting for next day (or next week) delivery.
But never before has the shopper had so much choice. Before venturing into town, we all do a bit of ‘virtual’ window shopping. Checking prices, checking availability and maybe even reserving an item before even stepping out of the house.
Technology in the Retail Sector
Technology really is changing the retail industry. In the infographic below, we look at how the ever-changing face of tech is altering and evolving retail.
In 2014, there were around 39 million digital buyers in the UK. Fast forward just two years to today and that figure is around at around 10 million more.
In fact, it’s thought that digital technology (ie, websites and mobile apps) is influencing close to 33% of in-store retail sales in the UK.