Retail Trends and Predictions 2014, Essay Example

According to “How Brick and Mortar Retailers Can Win the Omni-Channel Battle”, it is essential for businesses to integrate technology to support their reach. The businesses that have been successful in the modern era have been able to keep up with the emerging trends in technology, which have been used for purposes of marketing in addition to optimizing the customer experience. Ways of doing this is by providing customers with wireless internet access, providing computerized help kiosks, and providing cell phone applications that will assist with the shopping experience. Furthermore, according to Forrester’s study entitled “Customer Desires Vs. Retailer Capabilities: Minding The Omni-Channel Commerce Gap”, technology investment is critical to enabling exemplary omni-channel customer experience”. Since many businesses are currently concerned with saving funds but wish to enhance the organization and ease of shopping in their stores. To do so, it is essential to invest in technology; even though this may be expensive initially, the eventual payoff is high.

Some brick and mortar stores are able to accomplish the integration of technology into their businesses, and have been successful as a consequence. Those that have not established this initial investment are currently far behind their competitors and are at risk for closure. A brick and mortar store that is able to compete well in today’s hyper-competitive market place is Target. The customer service experience both online and in-store are superior compared to competitors, such as Wal-Mart, and many customers are willing to forgo Wal-Mart’s low prices for a quicker and more well organized shopping experience. To do so, Target offers in-store price checking systems to supplement employee service. Furthermore, the store’s website works closely with local stores so that customers may order products off the website and seamlessly pick them up in store.

An example of a store that has been unable to meet these customer service needs despite being a widespread chain, is a food store by the name of PathMark. This store primarily serves the northeast section of the United States, and offers a wide variety of food and necessity items. A majority of the stores do not have an option to check product prices, which often results in a large customer service line, hindering the ability of a great amount of customers to retrieve the help they need. Furthermore, some of the stores have a delivery service so that customers in urban areas can have large quantities of items delivered directly to their homes. However, their website does not play a useful role in this service, as it would be advantageous for customers to place their orders online as well.

According to “Retail Trends and Predictions 2014”, “omnichannel retailing will be the norm”, “shoppers will get more personalized in-store experiences”, and “technology will be even more integrated in brick and mortar stores”. Thus far, it appears that these retail trends have come to fruition. Ultimately, we can conclude that the survival of brick and mortar stores have reached a phase of natural selection. Those that are able to integrate technology will survive, and this use will therefore expand. Those who do not participate in this trend will close, therefore eliminating businesses that are outdated. We can use this information to predict the businesses that will survive over the next few years and which will fail. In general, it appears that this trend will continue into the future, as it will enhance a business’ ability to compete effectively.

Works Cited

Forrester. Customer Desires vs. Retailer Capabilities: Minding the Omni-Channel Commerce Gap. 2014. Web. 9 November 2014.

Motorola. How Brick and Mortar Retailers Can Win the Omni-Channel Battle. Web. 9 November 2014.

Vend. Retail Trends and Predictions 2014. 2014. Web. 9 November 2014.