- Online sales comprise just 10 percent of total retail sales
- Online shopping set to continue growing at present rate of 15 percent annually
- Modern retailers increasingly embracing multi-channel and omni-channel marketing
It wasn’t so long ago that marketers and investors were envisaging the retail world as a zero-sum tussle between ecommerce and brick-and-mortar. However, perceptions have shifted from that dichotomous paradigm, for satori has revealed the reality of multi-channel marketing. Now retailers are taking a leaf from Muhammad Ali’s book. In explaining his style, the boxing legend is reputed to have said, “I got different strokes for different folks.” The German automaker Volkswagen put it differently in a 1974 advertisement, which read, “Different Volks for Different Folks.” Yet, it amounts to the same thing, which is that there are a variety of ways to engage with customers. As a result, the focus on mobile devices that are always with consumers through mobile platforms such as the one developed by Consorteum Holdings, Inc. (OTC: CSRH) has intensified. Consorteum is now offering its Universal Mobile Interface™ (UMI), state-of-the-art technology that is capable of integrating any stream of data onto a mobile platform, which makes it ideal for omni-channel and multi-channel marketers.
Despite the continued rise of online retail, expected to keep climbing by 15 percent annually, brick-and-mortar retail sales still dominate the shopping universe. In the U.S., online sales make up just 10 percent of total retail sales. If asked to choose between online and offline, the nation is evenly divided, with 51 percent picking ecommerce, while 49 percent said that they preferred an actual store to shop in. But that balance may shift in the years to come, since 67 percent of millennials like shopping online more than shopping offline. Regardless of consumer preferences, no modern marketer worth his or her salt is likely to leave any channel of communication unexplored, whether it’s a print ad, a retail location, a website, a promotional event, a product’s package or a consumer’s smartphone.
These channels are multiplying. Once on the fringes of marketing, social media and mobile are currently the main drivers of ecommerce, particularly in Asia. In 2016, mobile digital assistants like Cortana, Google Now and Siri accounted for over $2 billion in sales. Now that worldwide ownership of mobile phones has crossed the five billion unit mark, it is expected that by 2020 the smartphone will become the major platform for the entire shopping journey, from search and discovery to recommendations, comparisons and payments. Additionally, this multi-channel approach is developing into a more sophisticated omni-channel outlook that attempts to integrate all channels in a complementary way. Taking note of these trends, retailers are on the search for easy-to-use mobile applications to optimize and integrate customers’ shopping experiences. They will be happy to discover that Consorteum’s mobile platform will integrate several streams of data into one convenient source.
Developed by Consorteum subsidiary 359 Mobile Inc., the UMI is a state-of-the-art platform for integrating any stream of data onto a mobile platform. The technology has the capacity to provide solutions in fintech, data analytics, secure payment processing, compliance lead transaction management and various digital social event sectors. The UMI platform also allows cross operating system development to support all mobile devices while addressing the complex and highly regulated needs of the mobile fintech industry. It is ideal for today’s omni-channel marketing campaigns.
For more information, visit the company’s website at www.Consorteum.com
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