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Australian researchers warn for a surge in online trading
Australian researchers Sean Sands and Cerla Ferraro predict a shift in consumer buying habits and warn for a surge in online trading and ‘anti-retail movement’ that could doom retail outlets over the next 10 years. According to their Retail 2020 report some traditional retailing is likely to become obsolete by 2020, as manufacturers choose to sell directly to the public and consumers prefer to deal directly with wholesalers.
“Consumers are growing tired of ‘filters’ reducing the transparency of their interaction with the producer of the goods, reducing authenticity of the goods and services they purchase. They want more direct access to the sources of goods and expect more from the retailer – it’s not enough to source the goods alone, retailers need to source better, more often and for less,” Sands said.
The changing landscape means retailers would have to fight harder for customer share and come up with innovative and inventive ways to retain customer loyalty.
