News, Education and Events Decoding Digital Payments & Fraud

News, Education and Events Decoding Digital Payments & Fraud

Commitment to Omnichannel Vital for Retailers: Report

Commitment to Omnichannel Vital for Retailers: Report

E-commerce continues to show steady global growth as traditional physical retail begins to adopt strategies that truly integrate online and offline sales, according to a new study. U.K. consultancy Juniper Research found that online sales of physical goods will account for $3.8 trillion, or 13 percent, of $30 trillion in total global retail sales by 2020.

The closure of Toys ‘R’ Us in the U.S. is the most recent example of how ailing bricks-and-mortar operations are weighing down retailers. According to Juniper, however, companies that make a commitment to fully integrating online and offline sales channels—even if the vast majority of their sales are offline—are more healthy. The company cites Home Depot and Walmart in the U.S. and John Lewis and Sainsbury’s in the U.K. as examples.

“Some retailers, particularly those with a strong dependency on grocery, believe that moving spend to online was counterproductive, given the high levels of marginal costs and the perception of reduced customer loyalty,” said Dr. Windsor Holden, the report’s author. “However, development of a successful, integrated omnichannel offering can ultimately enhance loyalty levels and increase consumer-spend levels.”

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