Online retail may be growing at a whopping rate of 19 percent year on year, but physical stores have not perished yet. Quite the contrary, they were quick to adapt to new circumstances and bravely faced their digital foe. One thing is certain: the future belongs to these retailers who know how to capitalize on the perks of both online and offline retail.
The world's third biggest retail player, British giant Tesco is to place more emphasis on cheaper pricing as it changes its approach to operating margins and accelerates its store revamp programme. The retailer also plans to pump more money into online and convenience channels. The retailer's refreshed strategy is its attempt to catch up with super-cheap discount mega-stores.
French retailer's cooperative Systeme U partnered with Agena 3000, a provider of logistics software, to improve information on supplied products. From now on the French giant will receive product-sheets in an electronic form through EDI flows. First to be tested with FMCG suppliers and then extended to Bazar products, butchers and backers, a new tool is a successor of GDSN-supported electronic catalogue.
According to a recent survey, 1 in 5 consumers say they have encountered personalized offers and promotions in-store, while 27 percent have seen them online. Those who have had personalized shopping experiences admitted that the personalization has influenced their purchase decisions. Little wonder that majority of businesses turned to various technologies to personalize their customer experiences. Sometimes unfairly perceived as an invasion of privacy, personalization can in fact create a much better experience for shoppers.
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