The Internet has literally revolutionized our daily lives not just from a personal sense but in the home, in work, in school almost everything! However there’s no doubting the fact that the Internet has shaken up the retail industry from what was a very traditional industry previously.
Today, you can be sitting in your home in New York City and you can have the option to walk out onto the streets and search for that new sofa in the local furniture store. Or you can simply switch on your computer, or even your phone, start browsing, and you can have a sofa ordered and paid for from a supplier thousands of miles away… and all from the comfort of your home.
This has presented a huge challenge for brick and mortar retailers. Many have decided to enter the online sphere but that’s not as easy as it sounds; you need to consider issues like warehousing and logistics not to mention returns and customer service!
However, the Internet has revolutionized offline stores too and it presents an opportunity to those retailers who are willing to accept it. They can choose to ignore this technology but they do so at their peril as the days of the savvy consumer are well and truly upon us! Retailers need to embrace and learn how technology can help to grow their business even if they choose not to go the online route; it’s just about knowing how to instigate this change and the key is research, training and understanding how it can help your business.
Almost 50% of small businesses do not have a website and research shows that businesses with an online presence grow 40% faster than those without one. Google is the new Yellow Pages!
The world of offline retail is changing and if small businesses don’t have the basics right they are going to fall further and further behind their competitors. The situation for them will become even more dire when the Internet of Things starts significantly impacting retail.
This infographic from Storetraffic highlights some interesting statistics about retailers and the Internet; it pinpoints how retailers can make an online presence be that using a website or using social media and it also touches on the interesting area of IoT and retail. Read on for more!