Retailers are optimistic about their predictions for 2016 after registering an increase of consumption of 3,1 per cent in 2015. However, the first study of trends in the retail industry ‘Strategies 2016’ carried out by “iiR España” has proved that retail trade should change the way they interact with costumers in order to be different and gain a better position towards competitors.
The report elaborated upon the answers of the 700 people attending to the “2016 Retail Forum”. It explains that the challenge lies in finding a formula to captivate consumers and make them live unique experiences so they become loyal and ambassadors of their brands.
The study explains that 94 percent of retailers are involved in a project of digital transformation for their companies, although 14 percent of them are in an initial stage, 57 per cent are in process, 26 percent are in an advanced phase and only 3 percent have completed the digital transformation. When performing this digital process, they face barriers which could be cultural and organizational (as said by 62 percent), economic (59 percent), regulatory (24 percent) and technological (21 percent).
Their priorities are improving the customer experience (answered by the 82 percent), optimizing the digital process (68 percent), e-commerce platform (36 percent), payment means (32 per cent), international expansion (29 percent) and logistics (18 percent). As solutions to improve the customer experience, 81 percent will choose omnichannelity, 56 percent prefer loyalty programs, 33 per cent the innovation at stores, 33 percent mobility and 7 percent more ranges of the product.