Omni-channel Retailing. Blurring boundaries, converging sectors and convenient choices. 5 things to consider in 2017.

Back in May 2013 the Retail Research Centre forecast a bleak high street by 2018 with a very much reshaped retail landscape. As we approach 2017 how real are these forecasts of a 22% decline in stores and a near doubling of online sales? With the iconic BHS going into administration last month and re-emerging as a nimble and efficient online brand, we reflect on the large changes that have taken place in recent years and what the near future may be like. Without doubt there will be fewer stores and retailers are already taking action to accommodate the new shopper who sees no boundaries of physical and digital shopping, only a single brand that should deliver a single and consistent experience across all channels. Mobile is King, personalisation is Queen and choice is a must if the customer of today is going to be kept satisfied and their thirst quenched for fast, interactive, comparative, convenient and any channel shopping. A decade ago, going shopping meant taking a trip to the shops or browsing through a catalogue. High street brands such as Next successfully penetrated markets by combining two channels well, fulfilling it excellently and providing a rounded service through the till point instore and via call centres. Customers were happy, delivery and return expectations lower, profits were not bad and retail jobs abundant. While online shopping was on the rise, it was hardly the new norm for consumers and it was definitely not an activity that involved multiple devices, including the smart phone. Who would have predicted that by 2016, around one in three digital retail transactions would take place on a mobile device and that UK consumers would be turning to apps to buy things like new shoes for same-day delivery? Or even delivery by drones would be even getting talked about! A lot has changed in the past 10 years, and while the likes of Neal’s Yard Remedies, Next, F Hinds, Bags Etc, Argos, Tog 24 and John Lewis have reshaped themselves, overhauled their retail software management systems and multiplied the channels they sell through ranging from eBay, online, catalogues, instore digital technology, M-commerce and ecommerce to meet, join and thrive in the new market conditions, many retailers are still asking themselves: What will the next ten years will look like? What will they need to do increase profit in a price sensitive market? How do they need to redefine and redesign the systems that provide the backbone of their operation? And importantly, how do they restructure themselves in a very merging physical and digital and blended sector retail world.

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