Top Retail Industry Trends That Will Redefine the Industry – Revealed by Quantzig
LONDON--(BUSINESS WIRE)--Sep 7, 2018--Quantzig, a global analytics solutions provider, has announced the completion of their latest article on the top retail industry trends that will redefine the industry.
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Top Retail Industry Trends to Watch For in 2018. (Graphic: Business Wire)
One of the recent studies on the retail industry shows that this industry is extremely competitive and mature in the developed economies across Europe and North America. On the other hand, developing economies such as the Asia-Pacific, Middle East, and Latin America have been helpful in driving the growth of this industry. At present, in this industry, the spending of customers has grown considerably and accounts for around two-thirds of the total GDP. This has been one of the main indexes for evaluating the retail industry’s health. Also, a thorough analysis of the retail industry overview reveals the fact that the proliferating online shopping business also acts as the main growth driver for this market. Similarly, the increasing development and adoption of mobile devices, smartphones, and internet services have helped e-commerce to become of the preferred shopping platforms, globally.
According to the analytics experts at Quantzig, “The survival of the retailers depends on their potential to offer innovative services to customers.”
Before the retailers determined what a customer might want to buy and how they should shop, it’s the customer who is describing the shopping experience. And when a retailer operates in the traditional silos that keeps selling channels and merchandise categories separately rather than coordinated, then that retailer starts missing out on opportunities for sale. Today’s customers are extremely connected and expect immediate gratification, new experiences, and customization in retail. As a result, they’re bringing about a major change in the traditional retail landscape. Technology savvy businesses are now quickly implementing changes, forcing others to adapt or be left behind.
Retail Industry TrendsCustomization will prosper: Customization is one of the key retail industry trends that will succeed in 2018 and the upcoming years. It allows the shoppers to make the order and customize them to every last detail. The value of customer experiences is one of the key factors for the retail industry to prosper today. Today, buyers want the tangible products to fit into their lifestyle flawlessly and to be exclusive. This is the reason why customization will flourish even more in the days to come. to know more about the top retail industry trends and how our analytics solutions can help identify them accurately. Robots will gain more popularity: In 2018 and the upcoming years, robots are anticipated to play a significant role in improving retail operations. Major companies like Amazon have already started capitalizing on robots to help them in packaging and shipping items. Consequently, this trend is expected to see a high investment in the near future. Many people are aware that robots are involved in assembling, packing, or handling items before they reach retail stores. Currently, some retail robots are also beginning to change how human employees work and people purchase goods in stores. to know more about the top retail industry trends.
There is a bright future for retailers who adapt to the customers’ needs. Retailers who will be successful in 2018 and hereafter are the ones who can positively interact with their consumers and understand their needs.
Quantzig is a pure-play analytics advisory firm concentrated on leveraging analytics for prudent decision making and offering solutions to clients across several industrial sectors.
View the complete list of the top retail industry trends blog here:
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 55 Fortune 500 companies. For more information on all of Quantzig’s services and the solutions they have provided to Fortune 500 clients across all industries, please contact us.
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