TECHNOLOGY
WHEN YOU CONSIDER that the Australian Bureau of Statistics release statistics such as “ three out of four internet users shop online ,’ if you are in the world of bricks and mortar retail you are likely to sit up and take notice . In fact , 2014 online spending in Australia accounted for $ 15.9 billion and was mostly dominated by people between the ages of 25-54 . These statistics are causing the traditional retail industry to cultivate new ways of reaching buyers , but if you don ’ t understand the digital landscape , it can be an overwhelming and expensive process of trial and error .
The changing role of retail stores mean several retailers are looking to put money toward a digital strategy , in hope of attracting a portion of consumers who spent a majority of their money via online transactions . Add into the mix that mobile spending has become a critical component of digital buying , retailers are in a situation where it is no longer enough to know the ins and outs of their industry , but also what is happening in the digital arena as well .
The reality is consumers are locating stores with their mobile phones , checking prices before
purchasing and scanning QR codes in addition to ‘ checking in ’ via social media . Consumers are savvier than ever with comparison sites making transparency the reason some retailers do better than others .
Initially , the comparison concept was dominated in the travel ,
28 August 2015