Retail Industry

8 Myths & Facts of the Disruption in the Retail Industry

retail_banner-1024x538“As online shopping continues to grow at the expense of store visits, the premium in the future will be on creating unique, brand-defining experiences that keep customers coming back—whatever the channel.” ~ PwC’s Annual Global Total Retail Consumer Survey February 2015.

8 Myths that Mar the Multichannel Industry

Myth 1 – Social media will soon become an indispensable retail channel

Myth 2 – Store will become mainly showrooms in the future

Myth 3 – The tablet will soon overtake the PC as the preferred online shopping device

Myth 4 – Domestic retailers will always have a ‘home field’ advantage over the global retailers

Myth 5 – Global online pure players will always have advantage over domestic online pure players.

Myth 6 – Retailers are inherently better positioned than brands, as they are closest to the customer.

Myth 7 – Online retail is cannibalizing sales in other channels (– or the Death of Brick-and-Mortar Retail Myth).

Myth 8 – Low price is the main driver of customer spend at favourite retailers.

There. Yes, low-price is very attractive and will always make you want to buy – but then, the above is not something that we have not heard. I’m not saying that this happens always. But, there’re instances that such things happen – and it is not a good feeling.

The blog 8 Myths & Facts of the Disruption in the Retail Industry appeared first on Software Testing Blog by Cigniti Technologies