E-commerce sales are expected to grow ten times faster than goods bought in-store over the next five years, though “80% of goods will still be bought at a physical outlet, come 2023”, according to Michelle Evans, head of digital consumer research at Euromonitor International.
“Physical retail is certainly still going to exist,” she said at the recent Money 20/20 Asia conference in Singapore. After all, its research shows that connected consumers are primarily motivated to shop in a physical store as they get to “try before buying”.
Central to these changes is the notion of consumer journey as an opportunity...