The recent emergence of e-commerce and online payments has posed a great challenge for traditional retail giants.
A report by the US-based information, data and measurement firm Nielsen indicates that Fast-Moving Consumer Goods brands’ exaggerated sales revenue from online channels outnumbers that from traditional retailers. Online channels are expected to bring in total revenue of 2.1 trillion USD by 2020.
Traditional shopping costs consumers’ a lot of time and effort. Besides carrying cargo themselves, buyers even have to travel a lot to compare among products and prices. Meanwhile, those works can be done from a distance with digital trading platforms.
To survive and thrive in the digital era, insiders advise traditional retailers to take advantage of online platforms./. VNA