Over 800 locations designated as high street shops closed in 2016, while e-commerce figures were stable. This context has been a driving force behind the introduction of technology as an instrument to help improve companies' value proposition. The expected continuation of that trend are changes in where and how customers purchase products. With the introduction of hub shopping locations and a continued shift to e-commerce customers will be increasingly able to efficiently allot their time towards making purchases. Shopping experiences will be improved as companies attempt to differentiate themselves through the service they provide alongside their products. These improvements will come from customers being offered higher tech, more personalized shopping experiences including even how products are bought.
As the customer becomes more powerful, largely due to their ability to choose from more suppliers, changes will also come to payment and delivery services. These changes will be aimed at providing more diverse and efficient processes. The retail industry will need to become more customer centered as players try to keep and attract customers.
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