90% consumer purchases still completed in retail stores, AT Kearney
According to AT Kearney, a global management consulting firm, over 90% of purchases are still done in stores in this era of e-commerce. That means malls in the region are bustling with local and visiting shoppers buying for the holiday season, and to manage this shopper rush, regional retailers are increasingly turning to technologies like digital signage, contactless payment, and self-service checkouts.
In-store retail in the region is evolving fast to offer smarter environments with a focus on consumer convenience. However, experts in the industry say that adoption of connected in-store technologies are still in its infancy as only 12% retailers across the world provide a real omnichannel experience by seamlessly combining their online and in-store operations. But, on-demand information, eye-catching self-service kiosks, and virtual displays are now increasingly being used by retailers everywhere.
According to Sasikumar Parakkuth, Managing Director, HMH Establishment, “In-store technology is really about serving the customer from the online experience out of the store all the way through the store, the goal is always to provide easier access to customers, to make the shopping experience better, and improve the lives of employees.”
He added, “Brick-and-mortar stores is very important in the region, and will drive the consumer experience by offering speed, convenience, and flexibility. The concept of connected store is emerging fast with improved technologies for fitting rooms, product labels, social buzz displays, and app-based navigation, as well as mobile payments taking over traditional shop operations. All these technologies are implemented to the benefit of the consumer at the heart of design. However, the trend is still in emerging stage, as only 12% retailers worldwide provide omni-channel solutions for their customers.”