Juniper Research flags up omnichannel retail leaders
Online physical goods sales will account for 13% of global retail by 2020, or $3.8 trillion out of a global market of nearly $30 trillion, according to Juniper Research.
Meanwhile, the Juniper Retailer Matrix assessed the online offerings and capabilities of 18 leading retailers in North America, China and Europe, categorising them in terms of the extent to which they are (and will be) able to compete in the online space.
Leaders as follows:
- The Home Depot
- John Lewis
According to Juniper Research’s Dr Windsor Holden: “Some retailers, particularly those with a strong dependency on grocery, believe that moving spend to online was counterproductive, given the high levels of marginal costs and the perception of reduced customer loyalty. However, development of a successful, integrated omnichannel offering can ultimately enhance loyalty levels and increase consumer-spend levels.”
Walmart - with annual sales of around $480 billion across all its channels, but overwhelmingly in-store – receives praise for demonstrating a commitment to facilitating an integrated experience. The retailer has recently announced the creation of an innovation hub, Store No 8, to focus on technologies that can drive retail opportunities in future, including robots, virtual/augmented reality and AI (Artificial Intelligence).