Walker Sands’ 2015 Future of Retail Study examines changing trends and consumer behaviors in retail.
Based on an analysis of more than 1,400 U.S. consumers, Walker Sands’ second-annual report uncovers what consumers want in an omni-channel shopping experience and how retailers can use technology to increase sales in 2015 and beyond.
In the year since Walker Sands conducted its first Future of Retail Study, the industry has continued to experience transformation driven by trends such as the rapid rise of mobile commerce, introduction of Apple Pay and same-day shipping experiments with drones and couriers.
Key themes from this year’s study include:
- Consumers are shopping online more frequently and purchasing a broader selection of products, but Amazon is still the go-to website for most categories.
- The decline of cash use and introduction of popular mobile payment systems such as Apple Pay have accelerated the shift to digital payments, consumers still have concerns retailers will need to address.
- As commerce and technology continue to intersect, consumers are open to integrating emerging technology such as drones and virtual reality into their shopping habits, bringing new opportunities – and challenges – for retailers.