Retailers expect that the mobile share of retail revenue will grow 10% by 2020, according to a survey of 400 industry executives by researcher PSFK. Brick-and-mortar retail will lose a 10% share of sales, while desktop internet will see a 7% decline in that period.
- About two-thirds (61%) of respondents said shoppers will value experiences over direct commerce
- 59% said consumers will exchange their personal data for personalized services and product offerings. As a result, 68% of retailers will be investing in data tracking, collection and management and 55% for in-store experiences by 2020.
- As mobile devices replace cashiers, retailers are expected to focus on creating in-store experiences that build on the shift to smartphones, challenging pure-play ecommerce outfits like Amazon.