Mobile wallet adoption in the U.S. is steadily growing, but it is lagging in comparison to some Asian and European countries. China specifically is reported to have very high consumer adoption for mobile wallets, while in the U.S., less than one-third of smartphone users are on board with the trend.
Shoppers today want and expect a consistent, seamless experience across all channels they use for shopping – online, mobile, social and in the store. To retailers, it’s omnichannel. To customers, it’s just how shopping is done these days and retailers who can’t deliver will find themselves falling behind.
Expectations for the in-store experience have greatly evolved in the last few years alongside changing payments technology, online options and more. Customers assume they’ll be met at each touchpoint with convenience, speed and innovation, and -- if you want to keep up with competition -- you need to anticipate these needs.
The holiday shopping season is just around the corner and retailers are looking for ways to improve the experience for shoppers and boost sales. One of the resources they look to for trends each year is the PwC holiday outlook report, which was just published for 2019. According to the report, retailers can expect holiday spending to hold steady based on the last five years — 86 percent of consumers are likely to spend the same or more this holiday season than they did in 2018 (an average of $1,284).
We’ve all heard the rumors: In-store retail is over. Online shopping is king. eCommerce spells the end for retail stores.
Despite what you may have read in the media, retail is thriving. Physical stores currently account for almost 90 percent of all retail sales in North America, and that number is still predicted to be well over 80 percent five years from now. According to analyst firm IHL, the U.S. retail industry has increased sales by $565.7 billion since January 2017 and showed a net gain of 8,575 new stores. The in-store retail experience is far from over - it’s growing.
