January 17, 2017 | Written by: Jose Paredes Hernandez
Categorized: Thought Leadership
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CMOs need to be on top of their game in 2017. As the new year opens, certain trends are re-shaping how consumers shop, not the least of which is the continuing change in consumer behavior. Now more than ever, customers expect a 360-degree shopping experience that puts their needs first. In fact, the companies that continue to invest in omnichannel marketing will most likely see the greatest gains over the coming year. Here are three key retail trends that CMOs can look forward to in 2017:
- To stay in the game and stay relevant, mobile must come first. Last year 20% of all online sales were done over mobile, and that number is expected to increase 25% by 2020¹. Whether it’s an app or a mobile optimized web platform – mobile will continue to grow.
- Retail spaces will turn into consumer engagement spaces. Physical shops are no longer inventory liabilities – now they are media opportunities that allow customers to engage with the brand. The pop-up shop phenomenon shows no signs of fading in 2017, with retailers rushing to create immersive shopping experiences that seamlessly connect to their digital presence²
- Powerful new technologies will decide who wins and who loses. From alternative checkout methods, to AI powered chatbots and retail API’s – new retail technologies will mature in 2017 and those who understand and embrace them will enjoy a huge advantage over their competitors³
CMOs looking to take advantage of these trends must move quickly though. It’s no longer enough to simply copy traditional business models digitally. To succeed and prosper, retail must be reinvented. To learn more about retail trends, read IBM and SAP’s retail ebook or visit the IBM booth at the National Retail Federation’s Big Show this January 15 to 17.
IBM and SAP can help transform your business into a true omnichannel enterprise by delivering the business and IT transformation your company needs in 2017 and beyond. Ready to start? Contact us now.