February BRC statistics released
Patrick Munden, Global Head of Retail and Marketing, at Salmon, a Wunderman Commerce Company, reflects on the latest British Retail Consortium statistics.
"The February BRC statistics released this morning is the strongest indicator yet that ecommerce will be the preferred platform for savvy shoppers, who now desire a much more convenient and quick shopping experience. Online sales grew by 8.0% YoY and, although overall sales also improved by 0.4% in the same period, there is clearly an on-going shift occurring towards digital services; online growth remained unchanged in February and helped to stabilise the gradual decline in high-street shopping. The news should come as no surprise; vendors must realise that they cannot sit still and expect to lead in the competitive retail industry. Retailers must catch-up with the likes of natural e-tailers like Amazon, Asos, Boohoo etc. and cannot afford to remain stagnant in a fast-paced industry that is constantly evolving.
A shift towards digital services is the first step in achieving this, but this will quickly develop into emerging technologies such as Zero UI (the move away from physical interactions in favour of sound, movement and other senses), artificial intelligence, virtual reality shopping and the IoT. These are just some of the latest trends that are already disrupting the retail sector and will continue to dominate the future of ecommerce, as the nation continues to digitise and online platforms increasingly become the preferred option for most transactions. However, the retailer that takes this one step further and embraces new technologies, will continue to prosper in the challenging UK market.”