The future of brick and mortar retail in the digital era
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Incredible changes are happening in how consumers are shopping today. Pulling in some recent data from McKinsey's iConsumer initiative (a program to monitor and analyze the behavior of digital ...
Incredible changes are happening in how consumers are shopping today. Pulling in some recent data from McKinsey's iConsumer initiative (a program to monitor and analyze the behavior of digital shoppers). For example, two years ago, about 15 percent of shoppers checked prices on the mobile devices when they were in a store. Now that number is closer to 50 percent. And of those 50 percent who checked, 2/3 of them changed their buying decision because of it. This rapid change in behavior is creating massive strains on brick & mortar retailers, who need to adapt even as competition from pure online retailers continues to chip away at them.
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