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Introduction: Future of Retail: Evolving Trends in Online Shopping Behavior
The retail businesses are evolving with a great accelerated rate because of the changes in the use of advanced technologies and effective methods for analysing the consumers behaviours. In the rapidly growing retail market throughout the world, the consumer's behaviour and their requirements are still driving their respective purchasing decisions and the retail business marketers are affected this decision-making process effectively. But the new technologies, diversified business model through online and offline shopping experiences, and the big data analysis methods have helped the retail companies to rethink and restructure their individual's business planning with respect to the upcoming day's business situations. The changing environment of businesses and the expansion of the retail business areas have forced the traditional retail business to work with more innovative ideas in the future.
Background of the Study
Online “impulsive behaviour” has been considered as the sudden interest of the consumers to purchase specific products and services in order to meet their needs and requirements. As per the views of Tyrväinen and Karjaluoto (2022), online purchasing, such as grocery shopping, has been identified as a rationale process where the consumers try to meet their needs by comparing the products and services that are available on different “e-commerce platforms.”. This immediate urge is also caused from gratification while shopping through e-commerce sites. In addition to this, there are intrinsic and extrinsic factors that have the potential to influence the buying behaviours of consumers. As a result, these kinds of factors also play a key role for the “business organisations" to develop their “unique selling point” of the products and services.”. As noted from the reviews of Agrawal (2022), “ease of use” has been considered as one of the determinant factors that has increased the overall sales of e-commerce sites as the consumers find it convenient to buy using their mobile phones and internet. Online retail marketing is accelerating through the internet, social media, mobile phones, and many more.
Research Rationale
There is a wide range of challenges that have been faced by consumers while doing online shopping, such as “delay in delivery” or shipment of wrong products. The study of Mustafa et al, (2022) has stated that there are multiple factors that affect the consumers decision in terms of online shopping, such as trust towards the brand, social influence, and awareness of online shopping. Moreover, it has been found that most buyers check the online reviews before buying them; however, there are brands that use paid promotions to give positive reviews and feedback on their products and services, which also largely disappoints the customers.
Figure 1: Future of shopping and e-commerce
Besides that, delay in the delivery of products is also a major problem, which has been leading to poor experiences of buying from the online sites. On the other hand, the other major limitations and keys of online shopping include “lack of personalisation, lack of interaction, no bargaining, lack of product details, no persuasive sales copy, technical glitches, and high prices of shipment.
Research Aims
The aim of this research paper is based on the possibilities of future shopping experiences and the major different impacts on future trends of retail shoppings.
Research Objectives
To discuss about different factors for the future shopping markets
To analyse the factors and its impacts on the retail business
To understand the challenges and issues about the future retail shopping business
To recommend some strategies to deal with the issues or challenges in the future shopping businesses.
Research Questions
What are the critical factors that will create an impact on future shoppings?
How these factors may be analysed on the retail businesses?
What will be the possible challenges of future shopping?
What will be the recommended strategies that should be followed for dealing with these challenges?
Significance of the Study
This research has focused on different aspects of shopping, which has been evolving and changing in the global competitive market. This research has also determined to provide how shopping will be in the future. This research has also developed a better understanding of the impact of the global pandemic, changing trends, and technological disruptions on the performance and growth of the retail companies.
Literature Review
Various factors of future shopping
There have been identified five different factors that may affect the shopping, and those factors include the variety of products, consumer behaviours or needs, conveniences, payment methods, and the trusts of the brands. The internet services create a platform for better understandings of the products and make the customisations of different products with a huge available choice in the online and offline shops as well. Cai and Lo (2020) mentioned that online retail shopping through omnichannel businesses has ensured the delivery of chosen products to their doorsteps, and thus this service has led to acceleration of global competition. SCM of this business organisation and demographic factors such as “age, income, gander, lifestyle, and customs” also have a significant influence on the buying patterns of the consumers. For example, consumers between the ages of 20 and 30 have been found to be more consistent and prefer to purchase from e-commerce platforms such as Amazon.
The analysis of these factors
In the age of technological advancement, the retailers often wanted to receive the high-quality goods and services as efficiently and quickly as needed, and they also wanted an efficient method to analyse these factors influencing the shopping experiences. The analysis will help the company to meet the customer's expectations and influence the consumer's behaviours through significant and reliable customer service (Van Barenberg et al., 2019). The customers are demanding the instant gratifications and the retail business industries are providing the services through the integrations of the live chat options, AI tools and various chat bots through their social media sites and applications. These tools help in the analysing process of the consumer needs and suggest them with their respective customised options for shopping.
Possible challenges for the future shopping markets
There have been different challenges for the retailers that will be discussed in this section. Online retail businesses have created an impact on the in-store companies and their businesses in todays market. Through qualitative research design, the data collected shows the influence VR has on customer satisfaction and how it can be implemented to alter customers experiences (Farah et al., 2019). Consequently, the inefficiency of modern technology infrastructures, tools, and superior intelligences has been becoming more challenging for the traditional in-store companies in the process of providing integrated, connected shopping experiences. As per the remarks of Bashar et al. (2022), due to a lack of personal touch, consumers often prefer not to purchase products online. Online impulse buying behaviour gets impacted by plenty of extrinsic and intrinsic factors. Besides that, poor design of e-commerce can also be a major challenge, which can fail to attract the consumers and influence them. Moreover, an effective design of the website is also very crucial for the brands in order to provide better and improved experiences to the consumers.
Figure 2: The challenges for the physical stores
Recommended strategies
Paying attention to the gap created due to factors affecting INQ within multichannel (Hossain et al. 2020).
Creating of the product motivations and encouragement in the company's websites and the respective social platforms. The company has to publish all customers reviews and satisfactions to have more engagement in their services.
Reducing the frictions in the process of purchasing any goods while shopping.
Retail stores and physical stores make impact on digitalization (Alexander and Cano, 2020)
Taking care of every staff in the stores and making a brand community through different social media users and the respective communities.
Research method
Data Collection Methods
Secondary data will be gathered while studying this research. The data will be collected from Google Scholar websites (Tang et al. 2019). All the authentic information from the original secondary sources will be used in doing this research. Major different journals and previous studies regarding retail shopping have been accessed and used for studying the research topic and thus these studies can be used as a benchmark. The methods will consist of the precise research methodologies, techniques and tools. However, some of the data will not be considered as there have not accurate and authentic information about the mentioned topic.
The method that will be taken into consideration is secondary qualitative and appropriate sets of data will be utilised to generate the final sources. The aspects of the secondary sources will induce Google scholars, websites, and journals that set indicative recompilation of the concerned phases. The main aspect will induce significant resourcing of actual data sets governed through intending significant and determined process and incur futility wellbeing through actual results protocol. The phases and unilateral aspect of the method generates the significant sources in major futility of technology disruption and are concerned to be indicated as well as potential.
Qualitative approaches
This project will be made by following qualitative research. Qualitative research provides a flexible approach. It is not bound by the limitations of the quantitative approach. According to (Bhushan et al. 2020, smart building, smart healthcare, and smart energy are services acquired from the application of smart cities, which are also mentioned in the approach. Qualitative research has many advantages, such as encouraging discussion, flexibility, and accuracy of data.
The data that will be incurred sets futility sets of qualitative approach and will associate several concerns phases that ascend majority of dissimilation units. The aspect phase of concerned imposition units generates wider futility of favourable research wellbeing to in turn quality of financial imposition. The unit of theoretical aspect will render widest time saving zones and will prosper to intrude safety, productivity in wider way.
Data analysis methods
Secondary data collection and thematic analysis will be considered in this study. Different data from the secondary authentic sources would be used in the analysis and also various theme-based analyses will be considered for analysing the collected data. The related information from various sources have been analysed effectively to understand the future of retail shopping. The verification of the information sources will be done and the data will be evaluated accordingly with the related research questions. However, the obtained information from various resources will be examined well for more accuracy and can be acknowledged in light of the research objectives and questions.
Results and discussion
With the evolved social media platforms and the increase in the number of social media users, retail consumers are well connected and they have learned and understood about every detail of any products through these various social communicating sites. In these social media age, consumers may easily compare any products with the other available options with effective pricing and the purchasing decisions have been made accordingly. Tools such as BIM and IOT organisation can improve the structure and efficiency of their applications (Tang et al. 2019). Thus, the companies should adapt the effective process of creating more engagements through social media to influence the buying decision making process through branding of their products.
Figure 3: Online retail sale increase during the COVID-19
The result that is derived incurs feasibility of bilateral changes and ascends favourable unity of thorough shopping experience. In nurturing the activated results and cultivating elongated data units considered to be confining,. The results are futilely explained to customer planning and generate buying effectively in generic rates. Through trend reports, the impact new technologies have on business and its revolution can be surveyed (Deloitte.com, 2023). The data sets have been emphasising present sources that help to mobilise the biasness and significance of tangible work structure. The futility sources of accredited principles are being considered by modes of tangible markup sources and derive highest growth efficiency on unilateral basis. Additionally, the target audience ascends government sources in order to mobilise organisation futility at widest rate. According to Forbes (2022), by the year 2023 AI will be an integral part of all organisations and will be used for creation of new products and services. The recipients use accredited knowledge of elongated staff enforcement protocol that helps to deriver exempted data in unilateral basis.
Critical Reflections
I feel that induced of acted skill, prolonged time management expands the futility of sources and deprive thorough management process. The futility of mobilising exact time frame units generates firm competency phases of workers and ascends to increase the futility phase in considerable basis. I learn about different technology and engineering managers that help to develop the business organisation (Hossain et al. 2020). I feel the inbound aspect of unilateral principles supports nurturing firm consistency power phases and ascending through motto of enriching aspects concerned to be unilateral. The source initiation and data changes accredit exact reliability of data feasibility and ascend through enforcing pavement of initiation wellbeing on generic basis. Van Vaerenbergh et al. (2019) discussed the limitations faced through service failures with the SRJ approach.
Gantt chart: Integrated Research Project Plan
Figure 4: Gantt chart
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Conclusion
Technology disruption has set futility towards growing power of business and fails to encompass considerable reliability on generic basis. With involvement of growing power indemnity protocol and creating major changes in phases of data consistency, it helps to set elaborative impact on retailers and executes concerning integrity mobilising units on unilateral basis.
Recommendation
Future shopping has integrated aspect that helps to nurture thorough and unilateral work consistency channel (Tang et al, 2022). Developing intended sets of integrity phases can ascend the future project initiation that can set adaptability and mobilise power protocol. impact of retailers, on the other hand, can set the prototype of nurturing phases and increase firm customer feasibility on confining basis. Furthermore, through Siriwardhana et al. 2020 articles, it has been understood that IOT (Internet of Things) and 5G have made huge difference in several sectors post-Covid-19 pandemic.
References
Agrawal, D.K., 2022. Determining behavioural differences of Y and Z generational cohorts in online shopping.International journal of retail & distribution management.
Alexander, B. and Cano, M.B., 2020. Store of the future: Towards a (re) invention and (re) imagination of physical store space in an omnichannel context. Journal of Retailing and Consumer Services, 55, p.101913.
Bashar, A., Singh, S. and Pathak, V.K., 2022. A bibliometric review of online impulse buying behaviour.International Journal of Electronic Business,17(2), pp.162-183.
Bhushan, B., Khamparia, A., Sagayam, K.M., Sharma, S.K., Ahad, M.A. and Debnath, N.C., 2020. Blockchain for smart cities: A review of architectures, integration trends and future research directions. Sustainable Cities and Society, 61, p.102360.
Cai, Y.J. and Lo, C.K., 2020. Omni-channel management in the new retailing era: A systematic review and future research agenda. International Journal of Production Economics, 229, p.107729.
Deloitte.com (2023). “Tech Trends 2023”. Available At: Https://www2.deloitte.com/us/en/insights/focus/tech-trends.html, [Accessed On:6/5/2023]
Farah, M.F., Ramadan, Z.B. and Harb, D.H., 2019. The examination of virtual reality at the intersection of consumer experience, shopping journey and physical retailing. Journal of Retailing and Consumer Services, 48, pp.136-143.
Forbes.com (2022). “The Top 10 Tech Trends In 2023 Everyone Must Be Ready For”. Available At: https://www.forbes.com/sites/bernardmarr/2022/11/21/the-top-10-tech-trends-in-2023-everyone-must-be-ready-for/?sh=708853397df0, [Accessed On:6/5/2023]
hbr.org (2023), the-future-of-shopping, Available at: https://hbr.org/2011/12/the-future-of-shopping, [Accessed on 03.05.2023]
Hossain, T.M.T., Akter, S., Kattiyapornpong, U. and Dwivedi, Y., 2020. Reconceptualizing integration quality dynamics for omnichannel marketing. Industrial Marketing Management, 87, pp.225-241.
Mustafa, S., Tengyue, H., Qiao, Y., Sha, S.K. and Sun, R., 2022. How a successful implementation and sustainable growth of e-commerce can be achieved in developing countries; a pathway towards green economy. Front.Environ. Sci,10(940659), pp.10-3389.
Siriwardhana, Y., De Alwis, C., Gür, G., Ylianttila, M. and Liyanage, M., 2020. The fight against the COVID-19 pandemic with 5G technologies. IEEE Engineering Management Review, 48(3), pp.72-84.
Tang, S., Shelden, D.R., Eastman, C.M., Pishdad-Bozorgi, P. and Gao, X., 2019. A review of building information modeling (BIM) and the internet of things (IoT) devices integration: Present status and future trends. Automation in Construction, 101, pp.127-139.
Tyrväinen, O. and Karjaluoto, H., 2022. Online grocery shopping before and during the COVID-19 pandemic: A meta-analytical review.Telematics and Informatics, p.101839.
Van Vaerenbergh, Y., Varga, D., De Keyser, A. and Orsingher, C., 2019. The service recovery journey: Conceptualization, integration, and directions for future research. Journal of Service Research, 22(2), pp.103-119.
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