Through my research I have found that organisations are predicting that consumers will shop more on the high street in the future but not as we do today. I find this really interesting industry already predicting such a shift in retail, how they perceive this will develop and the platforms involved is intriguing especially when they state “online only stores will be thought of as quaint”.
IBM predict “In five years, buying local will beat online”. They predict this will be the case due to new evolving technologies combining both online and brick and mortar shopping giving consumers a more engaging and personalised experience.
IBM predict “In five years, buying local will beat online”
Richard Perks, Director of Retail Research also agrees a combination of \online and in-store retail works best (Online Retail UK, July 2016):
Although possibly idealistic this video suggests how things could change in the future. Not all small and medium based retailers will have the knowledge and technology to implement this level of integration but it is clear for small and medium businesses to survive in todays vast 24/7 retail world they do need some form of online shop window. Here it is suggested that both stores and online retail work best when used together this will allow consumers to experience more personalised, efficient, informative and accessible retail experiences. It may not be cost effective for small and medium retail outlets to implement costly technology and retail solutions the idea behind this website would allow these retail outlets another outlet to reach new and existing customers.