1. Market Research
  2. > Retail Market Trends

Digitized Retail 2020: Capturing Emerging Opportunities (Technical Insights)

  • May 2015
  • 47 pages
  • Frost & Sullivan
Report ID: 2919419

Summary

Table of Contents

Scope

The retail industry is changing at an ever-increasing speed. With changes in the behavior of the customers along with the introduction of new channels and formats of marketing, the industry quickly needs to adjust to the existing business models. In order to satisfy the needs of future customers, retail organizations require drastic changes in their approaches and need to customize their service offerings to be profitable in the competitive retail space. This report identifies the key trends in the market and highlights the key technologies and their convergence prospects to envision the future digitized retail space.

Research Scope

The retail industry is changing at an ever-increasing speed. With changes in the behavior of the customers along with the introduction of new channels and formats of marketing, the industry quickly needs to adjust to the existing business models. In order to satisfy the needs of future customers, retail organizations require drastic changes in their approaches and need to customize their service offerings to be profitable in the competitive retail space. This report identifies the key trends in the market and highlights the key technologies and their convergence prospects to envision the future digitized retail space. In brief, this research service provides the following:

•A brief snapshot of the marketing mix in retail
•Key trends towards developing consumer oriented business
•Key trends towards improving the convenience of service delivery
•Trends in the market to increase value for money
•Trends to improve interactivity in communication channels
•Understanding of the key technologies that are enabling digitization of retail
•Key innovations across the identified technologies for retail
•Snapshot of technology convergence scenarios
•Emerging opportunities and benefits for various stakeholders in the value chain

Key Findings

-The key trends in the process of digitization of retail are primarily across the C’s of the marketing mix, that is, consumer, convenience, cost, and communication. Technologies will play a huge role in transforming retail in terms of operational efficiency and improving customer services. Some of the key technologies facilitating next-generation services in the retail space are Cloud Computing, Big Data Analytics, Context-aware Computing, Augmented Reality, Indoor GPS, and Secured Digital Payment Systems.
- With a focus towards transforming retail into a customer-oriented business ecosystem, companies are trying to bring in transparency in the value chain by integrating customers in every segment of the supply chain. Technologies like Cloud Computing and Big Data Analytics are playing a vital role in providing the backbone for integration and improving the operational efficiency at every level.
- Improving the convenience in service delivery is another significant aspect companies are aiming at by leveraging emerging technologies like Context-aware Computing, Augmented Reality, Digital Payment and Indoor GPS. These technologies are mostly used for enhancing the marketing processes for a more targeted delivery of content. Increasing usage of mobile devices for shopping acts as the key facilitator for these technology adoption trends.
- The omni-channel marketing trend has made it difficult for marketers to retain customers in a competitive landscape. With better deals and services from various brands to capture market share, retailers are constantly trying to devise strategies for continued business from the same customer. Loyalty programs are one of the strategies retailers are focusing on to engage customers. Price reduction of products by lowering the cost of operation across multiple channels is another notable trend in the sector.
- With the increasing impact of social networking in the everyday life of customers over the last few years retailers are leveraging social connectivity as the tool for effective communication. However, this trend is slowly transforming to even make social networking websites the selling channel for retailers.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 60 Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

Veronica helps you find the right report:

Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

Purchase Reports From Reputable Market Research Publishers

Retailing in Germany, Market Shares, Summary and Forecasts to 2021

  • $ 6000
  • Industry report
  • May 2017
  • by GlobalData

Retailing in Germany, Market Shares, Summary and Forecasts to 2021 Summary Germany is the largest economy in Europe and weathered the global financial crisis better than many European countries, but it ...

Retailing in France, Market Shares, Summary & Forecasts to 2021

  • $ 6000
  • Industry report
  • April 2017
  • by GlobalData

Retailing in France, Market Shares, Summary & Forecasts to 2021 Summary France is one of the Top 10 economies in the world and ranks third in the EU, after Germany and the UK. It is a service led economy ...

Clothing & Footwear Retailing in Germany, Market Shares, Summary and Forecasts to 2021

  • $ 6000
  • Industry report
  • May 2017
  • by GlobalData

Clothing & Footwear Retailing in Germany, Market Shares, Summary and Forecasts to 2021 Summary "Clothing & Footwear Retailing in Germany, Market Shares, Summary and Forecasts to 2021" provides data fo ...


Download Unlimited Documents from Trusted Public Sources

Retail Industry, Weekly Update

  • July 2017
    2 pages
  • Retail  

  • United Kingdom  

    Canada  

    Iran  

View report >

Retail Trade Markets in Finland

  • July 2017
    6 pages
  • Retail Trade  

  • Finland  

View report >

E-Commerce Markets in the US

  • July 2017
    14 pages
  • Mail Order  

  • United States  

View report >

Fintech Industry

1 day ago

Related Market Segments :

Retail

ref:plp2015

Reportlinker.com © Copyright 2017. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.