In the last few decades, retailers had used internet to launch their online stores and the fad emerged so strong that it affected traditional physical store model of retailing. US Census Bureau states that eCommerce sales in the last 10 years increased to 300%. Additionally, there are no ups and downs in the last 18 consecutive quarters. Customers are choosing online shopping over in-store purchases. There are various factors that are attributed to this phenomenon:
Mobile commerce: The incessant availability of mobile and internet technology has changed the overall retail business operations. People are not just using them for socializing; they are using them as channel for shopping. The surge in the smartphone usage has completely changed the way how the retail industry is operating. More and more businesses are adopting online channel with a multi-channel platform by integrating it with a mobile platform. Last year, mobile eCommerce sales recorded $4.7 billion. Some retail stores are resorting to mobile based POS systems to offer a unique shopping experience.
- Cross channel connection: 71% of the online customers who use social media are likely to buy from a brand that they follow. Retailers, nowadays, know that they should have a solid presence in the online vertical and integrate various channels so that they can be approached through any of them. In the online vertical, advertisements are clickable and they redirect customers to the online store. An important thing in the whole process is the simplicity which online customers are able to complete their purchases without wasting time and money. The multi-channel approach resorted by online retailers helped visitors to approach retailers and search products as per their need. To compete with online segment, physical retail store owners are now using in-store QR Codes and in-store pick-up facility so that can convert their physical stores into a hybrid.
- Ever increasing online vertical: it's not just the sale that is increasing in the online vertical, it's the amount of people are spending has also increased. The eCommerce sales figure of 2013 was $1.5 trillion and it is going to be increased to $3.2 trillion in 2017. This type of growth in the eCommerce vertical has changed the market for physical retail sales. The retailers need to be creative in order to attract the customers to purchase through them. It is becoming more difficult for retailers to compete with them with regard to the prices and the range of products that online retailers can offer.
To compete with online retailers, physical store owners can offer impeccable customer service and immediate delivery of products. Various new trends are going to emerge in the eCommerce vertical and it is going to change the overall milieu. Retail industry is going to see a vast change and the traditional retailers have to change their strategy in order to compete with online retailers.
Author's Url - http://www.24sevencommerce.com/pos-ecommerce-integration.html
