A technology-powered 'invisible hand' has transformed the retail environment, sparking a new, nearly limitless global marketplace, according to a new Oracle research report. Retail Without Limits-A Modern Commercial Society, was conducted across 10 countries (UK, France, Germany, Russia, US, Australia, Brazil, China, India and Japan), with responses from 5,000 shoppers. It found that consumers across the world are driven by convenience and want a converged commerce experience, in which retailers combine the best of digital and in-person resources.

What sets retailers apart in a global marketplace is giving shoppers better information where and when they need it. 70 per cent of global respondents say that the best way retailers can add value to their shopping experience is to provide easy access to information about products and services online and in stores. Consumers’ demand for transparency and access transcends formats and borders. More than two-thirds are using smartphones to browse or buy products, and 56 per cent have purchased direct from offshore international retailers.

“Consumers are enjoying an expanding global marketplace, and they are shopping it with the nearest mobile device,” says Jill Puleri, senior vice president and general manager, Oracle Retail. “As retailers embrace this new global, mobile consumer they must also maintain profitability and lay the foundation for ongoing change.”

The study highlights that there are opportunities for retailers to differentiate themselves and win customers through better in-store experiences, more-effective mobile strategies, and increased access to information regarding inventory and pricing. For more information, click here: http://bit.ly/Retail-without-limits

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