Retailers to focus on convenience to fight online

by Jemima Bokaie Marketing 29-Apr-08, 08:40

LONDON - Retailers are planning to introduce fresh store concepts to counter competition from the internet by making shopping more convenient.

According to a report by the Centre for Retail Research, commissioned by Visa Europe, 70% of retailers will launch a new store design by 2015, with 22% of brands expected to introduce self-service payment devices.

Self-scan checkouts first appeared in the UK in 1996. Upmarket grocer Waitrose is one of the most high-profile supermarkets to have rolled out the technology widely.

The Store of the Future 2012-15 survey revealed that store formats will include collection areas for customers who have ordered products online, and nearly 50% of stores will feature electronic devices such as interactive screens, to provide product information.

There will also be a rise in electronic payment options in store, including contactless cards (up 30%), key fobs (up 24%) and mobile phone-enabled payments (up 40%).

Visa Europe executive vice-president Dr Steve Perry said: 'Converging technologies are going to play a major role in shaping retail space. The goal is create greater convenience for the customer.'

More than 300 retailers, from supermarkets to pharmacies, in seven European countries participated in the survey. Of these, 200 businesses had more than 150 stores or a turnover greater than E200m (£160m).