GFK Predicts The Future For OZ Retailers
Will consumers still shop at bricks and mortar stores when Amazon arrive and what is the future fort bricks and Mortar retailers?
By 2022 half of all Australian purchases will be online and that online retail excluding food will account for 19% of all purchases by 2023.
More than 40% of those researched by the European research house who were stopped this week from collecting data from Harvey Norman stores said that they expect traditional retail stores to be the “most popular” location for over 40% of consumers, to shop at in five years’ time.
GFK said that the ‘immediate online future belongs to those who recognise the role and expectations of online purchases”.
The three key elements that retailers have to get on top of is removing security pain points, provide convenience and different delivery options and streamline payment methods, one click/one command purchase.
“It won’t happen overnight but it will happen” claims GFK.