Smart-enabled devices undoubtedly make everyone’s lives easier. As a result of being able to research anything from anywhere at any time and ordering services at the drop of a hat, consumers have turned into seekers of instant gratification who prefer personalized experiences.
Given this fast consumer-driven nature, retailers can’t keep track. According to TimeTrade’s State of Retail 2017 Survey, retailers missed out on $150 billion in sales during the 2016 year by not catering to this consumer desire for a more personalized experience.
It was also found that while 82 percent of respondents shopped in traditional brick-and-mortar stores, 49 percent shared they never receive personalized shopping experiences.
How will this impact brick-and-mortar stores down the road?