Retailers ‘prioritising digital in uncertain market’

A quarter of UK retailers are investing heavily in mobile commerce in order to stay ahead of the game, a new study from VoucherCodes has found, while 31 per cent are planning on redesigning their online presence as Brexit looms.

The report found that 99 per cent of UK retailers have considered new technology investment as part of their business strategies during the next year. One fifth of respondents are intending on using technology to close the loop between in-store and online by bringing tech into the physical store – for example, supplying bricks and mortar staff with iPads on the shop floor.

Some 57 per cent of respondents said they felt they lacked sufficient knowledge of the technology required in order to stay ahead of the game. A further 54 per cent said they were concerned about falling behind in a market where constant change is the only consistency.

Paul Lewis, Senior Director of Marketing at VoucherCodes said: “The watchword for the next 12 months or so is ‘uncertainty’. Retailers will obviously continue to keep one wary eye on the ongoing Brexit negotiations in Brussels, and another on the fluctuating pound. However, the UK retail market has strong foundations as one of the largest eCommerce markets in Europe so, whilst the future is indeed uncertain, it is important for businesses not to get caught up in this.

“Smart retailers will be mindful of the changing industry whilst simultaneously focusing on the opportunities they can see on the horizon in order to keep up with customer demand – investing in new technology to revamp online platforms, as well as technology to invigorate physical stores, turning them into powerful brand differentiators in their own right.”

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