Report: Retailers Must Get Onboard with Omnichannel
March 28, 2016
“The conceptual battle between brick and mortar versus online is dead,” according to a new report, and traditional retailers must embrace the smartphone and the ways millennials want to shop before 2025, when the transformation will be complete and laggards will cease to exist. ABI Research said retailers must combine data with innovations around inventory, POS systems and online information to leverage an evident multiplier effect on functionality and ROI.
“The retail industry is notoriously slow at embracing new technology, but CEOs should view early adoption as a huge opportunity to rejuvenate their brand, while establishing themselves as industry disruptors,” said Patrick Connolly, principal analyst at ABI Research. “By 2025, we will be exposed to a new shopping world in which the value of a physical store will no longer be measured in sales, queuing will not exist, any surface will be a storefront, customers will be able to find and buy any item at any time and clothing will be shared, tried on virtually and printed at home. The path to the future should start today for smart retailers.”