How Technology is Fueling Massive Change in the U.K. Retail Industry
A Digital Transformation Report: 5 Emerging Trends in the Retail Industry
The transformative impact of digital technology in the U.K.’s retail sector is significant and growing. According to figures from Statista, business-to-consumer e-commerce revenues are expected to rise 16% — from £98.4 billion in 2019 to £114.5 billion by 2022 — as consumers continue to switch more of their spend to online purchases.
The retail industry can’t afford to ignore the tremendous effect that digital technology is having on the traditional business model. According to Forrester, by 2021, 55% of European sales will involve digital touchpoints, whether through direct digital transactions or digital influence on in-store sales. Digital retail is now centre stage, and retailers have to find new ways to engage and retain customers or risk becoming irrelevant.
Download this free report to learn how collaborative work management technology can help retail organizations meet the challenges of these emerging trends:
- The omnichannel imperative
- Redefining customer engagement
- Product and service innovation
- Perfecting the delivery experience
- The meteoric rise of subscription retail