How retail industry success is being propelled by digital transformation?

1. How retail industry success is being propelled by digital transformation? “Retail Sector” is all set to reach new heights since „Digital Transformation‟ has become its companion. The retail sector aims to fulfill the consumption needs of the end consumer. You are well aware that the world economy as a whole is constantly evolving, so is the pace of „disruptive innovation‟. The retail industry has now become a giant “Retail Tech” domain. And, the scope of “retail tech” is certainly very comprehensive. The constantly emerging IT trends move this sector one step forward in the direction closer to digitalization. The brick-and-mortar model is on the verge of hitting a dead end The essence of physical stores continue to diminish with time. Nowadays, you don‟t have enough time to visit a retail shop and stand in the long queues for payment. You are living in a digital era and want everything on your fingertips. This has led to the emergence of “E-commerce”, where transactions take place through the internet. With the increasing scope of e-commerce concepts

2. like website ranking on google, keywords, SEO content, UI and UX, bounce rate, online marketing, and promotion via ads became major points to look upon for the retailers. In the U.S., retail sales comprise around 10% in the entire e-commerce industry and it will grow nearly by 15% every year. 44% of American e- commerce sales take place only via Amazon. Today you have websites and apps to fulfill all your consumption needs. The online market is brimming with numerous e-shops and e-malls, where any day, anytime you can make purchases at your comfort level seamlessly with e-cash. As per sources, 51% of Americans preferred online shopping through mobiles apps as compared to the offline purchases. Around 96% of Americans have already made an online purchase transaction once in their lifetime. As smart phones got huge popularity, the focus has now significantly tilted to M- commerce. Dawn of M-Commerce Era The smartphone users are expected to reach approximately 2.5 billion mark globally by 2019. More than 55.1% of the world‟s population is currently using the internet. These stats are enough to create a perfect ambience for setting up an era of M-commerce. Mobiles have facilitated the e-commerce transactions and revamped the entire e-commerce industry. M-commerce is when the transactions take place through mobile phones. Globally, around 1.6 billion people use their mobile phones for online shopping. M-commerce is like a boon bestowed by IT to the entire world. Now everyone is intrigued by the “mobile-centric approach”. “Mobile first approach” has become the most discussed buzzword in the IT domain. Where the interface is designed first for the mobile view and then for the laptop/desktop. Both UI and UX need to be kept in mind while designing a website to achieve the most optimized view for mobile, considering the inclination of people towards mobile phones. Read More