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(MoneyNewsWire.Net, November 20, 2018 ) Developments in digital technology are helping retail stores to use interactive displays to enhance the customer shopping experience. Interactive displays are digital displays that can be connected to a user’s smartphone to increase in-store customer involvement. They offer a variety of digital touch points, allow consumers to personalize shopping, give insights to keep building the relationship with the customers, and are high on entertainment value when compared to traditional static displays. Retailers also use interactive displays to communicate value propositions and drive incremental sales. For instance, Wal-Mart has three types of interactive displays – welcome signs, category signs, and digital end caps to provide a seamless shopping experience.
THE BUSINESS RESEARCH COMPANY EXPECTS THE GLOBAL DEPARTMENT STORES AND OTHER GENERAL MERCHANDISE STORES MARKET TO GROW TO $5.5 TRILLION BY 2021
Western Europe was the largest region in the department stores and other general merchandise stores market in 2017, accounting for nearly one-third market share. This can be attributed to the region’s developed economy, high private investment, and large demand for high-end FMCG products.
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According to The Business Research Company’s Consultant, Nitin Gianchandani, automation reduces waiting times, avoids stocking problems, enhances productivity and increases the overall customer experience. Retail stores are increasingly using in-store automation to streamline retail shopping. Automation in retail stores is aimed at cutting the costs and time involved in store operations such as container movement, merchandise scanning, inventory checking, retrieving, packaging, and delivering products, and connecting with customers.
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Wal-Mart was the largest player in the department stores and other general merchandise stores market in 2017, with revenues of $485.9 billion. Walmart’s strategy is to invest to differentiate on access, be competitive on assortment and deliver a great experience. Since retail environment is more competitive today with e-commerce, they are planning to invest in e-commerce divisions to increase revenues.
The department stores & other general merchandise stores market is segmented into Department Stores and Other General Merchandise Stores.
Department Stores include stores that have individual departments for various merchandise lines such as apparel, jewelry, home furnishings, and linens and they generally do not have central customer checkout and cash register facilities.
Other General Merchandise Stores comprise establishments primarily engaged in retailing new goods in general merchandise stores (except department stores).
Department Stores And Other General Merchandise Stores Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $4000 for an individual user. To use across your office, the price is $6000 and $8000 if you wish to use across a multinational company.
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