By Subhodip Bandyopadhyay, General Manager, Emerging Digital Technology, UST; Kingsley Samuel, Principal, Zinnov; Moin Moosa, Project Lead, Zinnov; Divya Shettigar, Consultant, Zinnov
The in-store shopping experience as we know it today is unrecognizable from what it used to be a couple of decades ago. The onslaught of the pandemic brought about dramatic changes in consumer behaviors, giving rise to a digital way of life and accelerating the need for frictionless commerce in the retail shopping experience. Touchless shopping, Mobile App-based shopping, and digital developments in retail stores are some of these aspects.
Today, consumers don’t just shop in a retail store based on necessity. A hassle-free in-store shopping experience is what drives a customers’ selection of one retailer over another. These changing consumer dynamics have huge implications on the business operations of retailers, and it has become imperative for them to adopt new-age commerce solutions to drive differentiation.
In this whitepaper, we explore the current trends and forecast what the next decade could look like in commerce after the recent shifts we witnessed in the last two years. Changing consumer dynamics post-pandemic and the shift towards a hybrid – a mix of offline and online shopping methods is here to stay as the new normal.
As this hybrid model becomes increasingly prevalent, reskilling of in-store staff will be a key area of focus along with effectively managing P&L. Speed has now become a vital factor in transactions and retailers will now solve to make them seamless. From a consumer standpoint, demands have morphed into more omnichannel shopping avenues, touchless payment options, and quicker transaction times. This predominant shift in consumer behavior will have repercussions on retailers. Optimizing for how a retail store should function in this age will slowly take centerstage, incorporating the learnings and preferences observed in the past few years along with the availability of new technologies.
This UST-Zinnov whitepaper will delve deep into the nuances of Frictionless commerce and provide insights on –
• Changing consumer dynamics and their impact on retailers
• How frictionless shopping experience is gaining centerstage
• Challenges in frictionless commerce
• How can retailers become future-ready for the new normal with smart hybrid solutions?
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