A recent article on guardian.co.uk looked at the impact technology is having on industries ranging from education to farming. In terms of retail, advances in technology are ushering in a new wave of connected commerce.
According to the article, retail technologies such as augmented reality are gaining speed while buzzwords like omnichannel and multichannel are restructuring the approach retailers take when strategizing sales.
Retailers find that the more channels their customers use, the more they spend. M&S says people who shop on its website as well as in its stores spend four times as much; throw smartphones into the mix and they spend eight times as much, the article reported.
The article also cited statistics from Jon Copestake, chief retail analyst at the Economist Intelligence Unit, that predict that by 2022 mobile commerce will be commonplace, as consumers make impulse purchases directly on their smartphones.
Read more about retail technology.