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With global internet sales expected to account for almost 20 per cent of turnover by 2012-15, and websites becoming increasingly transactional rather than informational, we are also likely to see a rise in the application of technology within the retailer community, says the company.
As a result there will be a rise in automated self scanning, product tracking for inventory using RFID and targeted promotions delivered directly to consumers while they shop. In addition they are likely to have access to PC/web based facilities in store giving immediate access to product and customer reviews, the company also says.
According to ‘The Store of the Future 2012-2015', a Visa Europe commissioned report by the Centre for Retail Research, seven years from now, the fate of the high street seems uncertain with over one quarter of retailers (28.7 per cent) expecting a drop in store numbers. Store formats are likely to change with 70 per cent of retailers expecting to introduce new formats and more information services by this time.
