Retail in 2020

Retail in 2020

The retail sector has been changing dramatically over the past ten years, until what we have right now. Exactly ten years ago, the use of RFID or Radio Frequency was still a plan for the retail industry to provide easier access and improve security. Customers at that time were not really as tech-savvy as now, and they still preferred to commute and shop to physical stores. During that time E-commerce was already existed, however it just made a small portion of total generated sales, which was only 2 %.

However, as time goes by, with the changing in generation and significant innovation in technology, the world of retail have been changing drastically. Today’s retail sector is certainly different that what we had 10 years ago. During the second quarter of this year itself, E-commerce sales has accounted for 6.4% of total sales http://www.census.gov/retail/mrts/www/data/pdf/ec_current.pdf. That percentage is tripled with what we had 10 years ago, and this will keep on increasing as the time goes by. Smartphones that we have currently are much smarter than ordinary phone that we had 10 years ago. It’s been smart enough to at least to create online purchase, track nearest retail stores from our current location, provide online instant coupon, and of course the most important part is the development social media. Socializing with friends, taking pictures of the products that we want to buy, share it online, and wait for a second to get others’ feedback now can easily accessed through one touch from our device. These changes actually would never happen without the help of modern technology that keeps on innovating.

Technological innovation will never stop, as people will keep on tweaking the current technology to create better and helpful creation for human life later in the future. Retail sector in other hand, has no choice other than investing heavily on technology to keep up with their technology advanced consumers in the future. We have...