LONDON--(BUSINESS WIRE)--Infiniti Research, a world-renowned market intelligence solutions provider, has announced the completion of their latest article on the major retail industry trends and challenges.
Companies in the retail industry are transforming at a rapid pace by incorporating various technologies and innovations. Although personalization and customization in products and services have become mainstream, companies are analyzing the changing market dynamics to gain an upper-hand in the market. Today, the sector has evolved to become one of the most competitive and volatile markets across the globe. The changing market landscape has forced companies to adapt to the latest retail industry trends to compete in the market.
“Most companies in the retail sector are finding it difficult to adapt to changing consumer preferences and new retail industry trends to strategize their business plans,” says a retail industry expert from Infiniti Research.
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Top retail industry trends for 2018:
Visual search
Visual search identifies and recommends a product online based on similar attributes like shape, color, pattern, or texture with the use of machine learning. A shopper simply has to upload a snap of the desired product to generate relevant search results. Visual search allows buyers to take an image as its 'query' rather than text. Such innovations grab the attention of customers and make shopping an easier experience for them. To know more about the top retail industry trends and challenges faced by businesses, get in touch with our experts.
Augmented reality
Augmented reality is the technology that companies are incorporating to enhance the shopping experience of customers across various channels. The technology allows customers to see products in 3D and is highly beneficial for businesses dealing in home furnishings or interior décor. Such developments allow customers to gain an overview of how the product will look within their space. For a more detailed overview of the retail industry, consult with our industry experts.
Omnichannel retail strategies
Investment in omnichannel strategies is increasing rapidly. According to a research, an average customer owns 3.64 connected devices and consults these devices prior to making a purchase. Customers may look at a certain item on one device and complete their purchase on the other or might shop it from the store. Omnichannel retail strategies provide a seamless user experience to customers across various devices like desktops and mobile phones. Therefore, many retail firms are working to keep in pace with the latest retail industry trends and tap the demands of customers by operating on omnichannel platforms. To know about the challenges faced by companies in this sector, view the full article here!
About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us
