The Future of Retail is Figital

As same store sales continue decreasing at an accelerated rate, physical retail is becoming ever so under attack by e-commerce pure players, big box retailers with early investment in e-commerce, as well as artesian startups that harness the power of the digital channel to compete head to head with established brick and mortar mainly Outfits.

As more consumers continue to spend yet more time on smartphones, retailers need to think not just about eCommerce or mCommerce but also how customers use their phones in stores. While shopping or browsing in-store, consumers often have their phones in hand, and retailers have many opportunities readily available to provide product information and service to close the sale. 

With the right tools and organisational mindset, there is a chance for incumbents to withstand the digital avalanche, and emerge as fit leaders of a new breed of retail: Figital Retail.

Xavier Lombardo