Consumers Returning To Physical Stores And Future Trends

- Oct 17, 2020-

Consumers returning to physical stores and future trends

    In recent years, due to the rise of e-commerce, the traditional retail industry is undergoing a round of tremendous changes. The relationship between traditional retail and e-commerce is not a life-and-death competition, but a process of gradually completing the unity of opposites.


    Accenture, the world’s largest management consulting, information technology and business process outsourcing company, found through a latest survey that this year there are signs of consumers “returning to physical stores” in the global sales market. Consumers’ The proportion of desire has climbed from 18% a year ago to 26%. Among them, 93% of consumers feel "easy" for the process of shopping in physical stores, which is higher than that of the Internet (75%) and mobile devices (61%).


In recent years, due to the rise of e-commerce, the traditional retail industry is undergoing a round of tremendous changes. Consumers have acquired more consumption information and consumption channels. To attract these consumers, traditional retailers must continue to change and follow up with technology.


 In the past, outsiders believed that the traditional retail industry was under impact, and that cutting the original chain to transform e-commerce is the way out. So many companies try to abandon the traditional sales model and turn their main performance sales to the Internet product platform. Some companies also focus on core values and services by outsourcing production.


In fact, the relationship between traditional retail and e-commerce is not a life-and-death competition, but a process of gradually completing the unity of opposites. The recovery of physical stores in the global market this time is to release such a signal: traditional retail integration of e-commerce, with big data services to return to the entity. Today's consumer shopping is increasingly inclined to "interactive", through a variety of independent shopping and push shopping, especially after the Internet and mobile terminals take effect. Consumers have become customers who can shop around the clock. They have established a large number of connections through the information network, and at the same time their consumption outlook is more open than ever.


Faced with this situation, the market should also have the function of "all-weather" services. At present, both e-commerce and traditional retail have their own limitations. Only the combination of the two can make up for this market gap. This is also the future market. Where the development is going. Researchers believe that in the future market, traditional retail will combine "big data" services with e-commerce to complete a truly complete ecological chain from online to offline, from production to supply to sales. The integration of front-end and terminal will eventually liberate existing cost consumption.


But before that, we still have a lot of work to do. The first thing to bear is to eliminate the "hostility" of traditional retail to e-commerce and encourage retail to try e-commerce services.



According to the Accenture China Retailer Omni-channel Retailing Capability Survey, 63% of traditional retailers have launched multi-channel retail. Among the surveyed companies, 61% have independent official online stores, more than half (52%) have opened online stores on third-party platforms, and 30% have mobile clients. But on the whole, only 16% of retail companies give positive comments on their current multi-channel retail strategy.