retail environment
An equal split between bricks and clicks
Half of British retailers are finally taking a joint approach to investing in the physical and digital shopping experience, new research has found.
The report, from VoucherCodes, revealed that 49 per cent of UK retailers are taking a joint approach to physical and digital investment and that fewer than one in 10 (eight per cent) are continuing to prioritise High Street investment alone.
More than half of UK retailers (56 per cent) have invested in payment technology in the last 12 months whilst 47 per cent have invested in digital receipts. The research also found that 73 per cent consider customer demand to be the key motivator for embracing change, while over half (51 per cent) of retailers admitted that new investments are slowed down by a lack of direction in the leadership team.
The research was carried out by VoucherCodes in conjunction with WBR and surveyed 100 senior executives at major UK retailers from the fashion, luxury, sports, homeware, consumer electronics and DIY industries. Paul Lewis, senior director of marketing at VoucherCodes, said: “It is hugely satisfying to see more retailers than ever before investing in a joint approach to the shopping experience – an approach retail experts have been championing for years to encourage a step away from siloed, ineffective teams.
“What this research shows is that retailers are finally beginning to understand that the industry is incredibly fickle and requires constant adaptation in order to keep up with consumer demand. Ultimately, consumers are in the driving seat, and retailers can no longer sit regimented if they want to boost sales and keep up with the constant pace of change.”
