Bill Hanifin
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Ever wonder how much technology is changing the retail industry? Well, it is a question that keeps us up at night at Loyalty Truth and we set out to find some answers. Fortunately we found an informative infographic based on work done by Retail Vision, a UK based retail strategy firm.
The infographic below shows how the ever changing face of tech in the 21st century is altering and evolving retail. According to Retail Vision, there were around 39 million digital buyers in the UK alone. Fast forward just two years to 2016 and the figure has increased by about 10 million. At the moment, it’s thought that digital technology is influencing close to 33% of in-store retail sales in the UK.
A few facts from the Infographic caught our attention:
- Deloitte reported that 60% of customers surveyed said they used a digital device before setting out to shop.
- 33% of consumers in one study said they preferred to pay via a digital app or format.
- Retail categories with the highest percentage of consumers using social media during their shopping journey were baby/toddler, home furnishings, and health/wellness.
Explore the infographic below to find out just how digital tech is changing the retail industry. Let us know what elements caught your attention and share thoughts to us in comments below as well as directly to our friends at Retail Vision.
Source: Retail Vision
