4 Retail Industry Trends for 2024 - Stratix

4 Retail Industry Trends for 2024

Click to read 4 Retail Industry Trends for 2024

Heavy Focus on Mobile Tech and AI

Technology and changing consumer behaviors continue to reshape the retail landscape 

It wasn’t all that long ago that some were predicting the end of brick-and-mortar retail with the so-called “retail apocalypse” caused by the pandemic and online giants like Amazon grabbing more and more market share. What a difference a few years make! It’s now clear that physical stores aren’t going anywhere. However, the way that people shop IS forcing retailers to rethink just about everything they do in order to provide the kinds of seamless experiences between digital and physical that consumers expect. 

The numbers tell the story. A new study from Shipstation and Retail Economics found a whopping “73 percent of U.S. consumers blend online research, physical store visits, and options like buy-online-pickup-in-store or in-store returns before making purchase decisions. Whether you call it “seamless” or “phydigital,” removing all friction between digital and physical experiences for customers is a top priority for retailers in a hyper-competitive industry. To do that, they’re relying on mobile technology and leveraging AI tools. Read on as we dive into the top retail industry trends we’re seeing in 2024.