Home / Knowledge / News / Apparel/Garments / 'Retailers not evolving fast enough in digital world'
'Retailers not evolving fast enough in digital world'
19
Jan '16
German multinational software corporation SAP SE that makes enterprise software to manage business operations and customer relations, has announced findings from a survey and report commissioned by The Economist Intelligence Unit (EIU), “How Mobile is Transforming Retail.”

Retailers are under enormous pressure to adjust both internal and customer-facing business strategies in order to keep pace with rapidly evolving consumer demands. And most are not evolving fast enough.

The report is based on a consumer survey across 39 countries. The survey results were announced at the NRF annual convention and expo now under way in New York.

Three key mobile imperatives to retail growth identified in the report include addressing generational differences in shopper behavior. The report shows that 69 per cent of consumers polled use smartphones and desktops for shopping in equal measure — but 81 per cent of millennial respondents say they mainly use smartphones for the purpose.

The report also identified prioritizing the user experience to attract and retain customers. Of those who shop infrequently from mobile devices, 63 per cent blame small screen size and 38 per cent cite awkward navigation as the obstacle. Among those who do not yet use mobile devices to request product samples, 51 percent believe they will do so in the future.

The report also suggests closing the gap in mobile shopping functionality. In a few years, a generation whose shopping habits have matured alongside that of mobile technology will become the mainstay of retail spending in developed economies.

The report also states that about 60 per cent of those polled use their mobile devices to comparison shop. Of those polled, 76 per cent say in-store staff using mobile devices to ring up purchases appeals.

The increasing use of mobile shopping functionality threatens retailers who fail to meet this group's expectations for more sophisticated mobile shopping services, especially as the group's purchasing power grows, the report added.

With these three key mobile imperatives as guides, retailers can fine-tune their mobile shopping services.

Carolyn Whelan, the report's editor, said: “Mobile shopping continues to grow in its reach and breadth. But as demand for more sophisticated services picks up, particularly among Millennials, shoppers will be less forgiving of services that fall short. As retailers shift or expand their mobile service offerings, a cohesive strategy considering consumer capabilities and needs across multiple touch points, from the physical store to desktops and smartphones, is paramount.” (SH)

Fibre2Fashion News Desk - India


Must ReadView All

Textiles | On 19th Sep 2017

Karl Mayer expands service operations in Asia

Karl Mayer, a world leader in the production of warp knitting and...

Textiles | On 19th Sep 2017

Welspun bags Made in Green label by Oeko-Tex

Welspun, a leading home textiles manufacturer, has been awarded Made...

Courtesy: SGS

Textiles | On 19th Sep 2017

SGS expands testing facilities in Naucalpan, Mexico

SGS has expanded testing facilities in Naucalpan, Mexico, creating a...

Interviews View All

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

September 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search