The  future  of  retail 

The retail landscape is diverse, rich and more immersive than ever, thanks to digital and mobile technologies. Consumers research brands and products well before they step foot in a brick-and-mortar store, and 75 percent make both online and in-person purchases. Customers download brand apps for both online deals and in-store offers. They use augmented reality (AR) to “try on” glasses or to see how a new couch would look in their living room. At every step, from research to consideration to purchase to returns, digital and physical worlds are blending to create a new, seamless omnichannel shopping experience. This omnichannel retail market is forecasted to grow to $16.9 billion in 2027¹ from $5.8 billion in 2020.

The message is clear: To deliver the experience shoppers want, retailers of all sizes need a secure and reliable network to bring digital and physical worlds together.

With 61 percent of in-store shopping trips beginning online⁴ — up 25 percent from 2022 — and 67 percent of social media users likely to research products on their platforms before buying, online isn’t optional, it’s table stakes. Retailers without a digital presence and digital tools like apps and AR technology are at a disadvantage. And without reliable networks to deliver these kinds of experiences, they risk not only missing out on individual sales but could also miss out on the opportunity to build long-term relationships that motivate customers to return.

Combining digital and physical elements to improve the customer experience is crucial for small and midsize businesses (SMBs) as they compete for consumer attention and loyalty. Expanding their business to the digital world unlocks new possibilities, including reaching more customers, accessing new markets and operating more efficiently with automated inventory management and customer service. Nearly 80 percent of SMBs use at least one digital channel such as a website or mobile app⁷, and they’re more likely to be optimistic about revenue growth than those who only sell in-store, with 49 percent of retailers⁸ focusing on adding more online options this year.

Essentially, more channels mean more profit, as omnichannel customers shop nearly twice as much⁹ and spend more than single-channel shoppers. Retailers need a secure, reliable network to power digital marketing and operations, support new digital experiences, maintain secure storage of customer information and keep shoppers connected in-store and beyond.

More and more consumers are getting accustomed to the seamless, immersive shopping experience omnichannel retail provides, such as WiFi in stores, self-checkout stations and mobile app experiences. Businesses must ensure they have a reliable network to support new technology, combining the power of 5G and fiber connectivity. More stores might install smart mirrors for customers to see how an outfit would look or to request different sizes with a swipe or a tap. Retailers could use in-store sensors to plan experiential installations around heavily trafficked areas, while AI technology might help retailers personalize advertising and in-store experiences that give customers a reason to shop in person versus online. In fact, 80 percent of customers¹³ say they’re more likely to make a purchase when offered a personalized experience, such as product recommendations.

With ever-evolving new tech on the horizon, retailers that have powerful communications networks supporting their operations will be able to seize new opportunities quickly and deliver best-in-class consumer experiences that meet customers where they are: everywhere.