Research released by Webloyalty predicts a rise in ‘social shopping’ and that 31% of High Street stores will close by 2020.
New research commissioned by eCommerce partner Webloyalty into the future of retail, reveals that the rising tide of online shopping is radically altering the shape of the High Street and the way in which consumers shop.
Comments from Guy Chiswick
Commenting on the findings, Guy Chiswick, Managing Director of Webloyalty UK & Ireland, says:
“The emergence and adoption of new digital channels means that retailers need to incorporate social media and mobile technologies into their store and multichannel environments to actively engage and interact with their customers.”
Comments from Neil Saunders
Neil Saunders of Conlumino adds:
“Social media will have a widening impact on the entire retail environment, with its role in the online shopping process growing in importance as the amount of data available on social media platforms enables experiences to be tailored specifically to the user’s interests and tastes.”