Dive into the biggest consumer and retail technology trends, including business mobility, omnichannel engagement, digital workspaces and more, in our new infographic.
The Mobile, Connected Consumer
The modern consumer is undeniably mobile, with 70% of those surveyed citing access to a smartphone.
- 70% have access to a smartphone
- 51% a tablet
- 14% wearables
- 9% all three devices
Forty-four percent of consumers said mobile influences 75% of purchases. Consumers are even paying with their mobile devices:
5% (2014) -> 18% (2015) = 4X mobile payment growth
[Related Video: Gap Stores Give Employees Mobile Apps to Drive Sales]
Omnichannel: Catching Up to Customer Demands
What is omnichannel retail? An integrated experience where consumers can research, purchase, pick up and even return transactions across multiple channels—stores, online, mobile apps, contact centers, catalogs and more.
Fifty percent of consumers expect to buy online and be able to pick up in-store. The opportunity cost of not being omnichannel is 10% in lost revenue.
Top Retail Technology Priorities
Seventy percent of retail IT leaders cite “mobile” as a top priority.
- 55% omnichannel integration
- 53% advanced CRM/loyalty programs
- 51% mobile for associates
- 47% mobile engagement for consumers
- 36% single transaction engine
Eye on IoT: 2020 Projections
Today, Bluetooth Beacons and RFID tags are the most well-known Internet of Things (IoT) devices in retail. By 2020, however, IoT could have the biggest impact on the modern customer experience.
- $300 billion annual total market
- $2.5 billion projected IoT retail spend
- 38.5 billion connected devices
- 70% will be non-consumer devices
Digitizing the In-store Experience
With technologies like mPOS and Beacons accessing smart real-time data in the cloud, retailers will deliver an engaging, anyway-you-want-it customer experience that goes beyond the brick and mortar.
[Related Video: mPOS Is the New Barcode: Retail Mobility Expected to Explode]
Do More than Keep Up: Show Customers the Way
Hear how industry leaders are driving toward the future of retail, from iBeacons to geofencing and mPOS. To learn more, visit vmware.com/industry/retail/overview.html.
Deloitte, Forrester Research, Gartner Inc., Innovative Retail Technologies, Juniper Research, McKinsey and Company, PWC and VendHQ
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