Monday, October 1, 2012

IRIS : Internet retailing in store

Congratulations to Internet Retailing Magazine and Expo for their introduction of the term IRIS which is short for Internet Retailing in-Store.
Not only is it a great term that is easy to remember, but the eye-based connotation is also clever and relevant.

These days the use of mobile devices to shop online has grown to become a major revenue channel for all but the most resistant of retailers. But as more and more people shop with their smartphone in stores, and use other connected devices when they are there, then the in-store Internet retailing experience is going to become of increasing importance.
Note: connected commerce happens anywhere you can get data, not just at home on the sofa via a fast broadband connection (as I'm sure a lot if ecommerce traders still believe).

The Government's High Street Review revealed that retail spending has fallen by 42% in town centres and is forecast to fall further to 40% by 2014. So one could therefore argue that the more recent developments in online retailing such as click & collect now need to connect the digital experience with the physical one. Not just to increase the revenue for online traders, but as a potential way of boosting the stores income too.
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