Global Retail Market to Reach $10 Trillion Mark Soon
The line of difference between the Global E-commerce market and the Global Retail market is fast vanishing. All of these are set to venture into a sea space of online marketing where the online activities will carry the industry at large. The changes that are taking place are soon to lead the $500bn online market into a $10 trillion global retail market. In recent times, there was a short-lived period where the industry saw a slight downfall due to the heavy slowdowns of the global economies like the United States and European countries. However, that span is over now and the retail industry is all set to go big way with the technological assistance it shares from the Internet world.
The revolutions happening in the global retailing industry is closely watched by the heavy-weight online companies as they are gearing to make profits out of them. Rakuten- known as the Amazon of Japan is much interested on the subject as they have invested a whopping $100 millions into Pinterest and has started a segment focused to cater only the US market, this start up is known as the Rakuten Shopping. The retail world is ought to go for a big makeover this year as the online techniques will take over and alter the method in which the business is moved about.
Following ahead in the content are some of the newest trends that are coming up in the global retail industry making it a much interesting place for the customers as well as the retailers.
Retailers have started and will continue to entertain the clients to gain business from them. The ancient bore method of providing clients, goods and services on just a buying and selling approach is no longer helping to maintain the spice. Thus; there is a requirement for some innovation and entertainment of some kind to keep the client engrossed. Moreover, the retailer very well knows that buyers today are well equipped and informed after surfing online for details before they get into the actual purchase activity.
Retailers are going by the online indications. They are better stocking items that are ruling the present trends of the market. Most sellers keep a watch on the online portals to know people’s reactions on products especially the new launches. Therefore, stuffs that get liked and tweeted online get most attention from the retailers. The latest way to carry out the market researchactivity is to go online, observe the trends and make the best stocking decision that results in max minting of profits.
Merging of all technologies helps big-time. Getting together all communication mediums is proving to be a great assistance, as retailers are successful in tracking the market behavior. They do this by using their tablets, desktops and the mobiles. This is possible as the shoppers are omnipresent, spread out on all the devices. Brands tend to receive heavy feedbacks from multiple platforms on various devices. Browsing from home desktops, work laptops or on the smartphones is a constant activity that’s catching speed speedily. Hence, retailers are targeting all these mediums and trying to avail the optimum that is possible.
Real-time business is possible now. With the evolution of technologies like i-Beacon from Apple Inc targeting real time customers is quite possible now. Retailers are working hard to figure out their core targets by providing them latest information on discount offers, freebies that are out for grab and other sales pulling news. Moreover, the industry is expecting an increase of such technologies that enable the immediate sales activity. Customized products are the order of the day. Shopping today has changed its approach as buyers do not want to buy the usual stuffs available. They prefer the customized range-something which is produced specially for them, the made to order types. Engraved items top the list as manufacturers have come up with the personalized laptops, zip bags, pen-drives and many such routine usable products. Retailers are doing their entire bit to impress and attract clients for this segment which is enjoying a healthy reception.
One thing’s for sure, the global retailing industry is set to bring in a sea change in the way the world shops.