Today, the buy-sell area is well developed not only offline, but also in the digital field.

E-
commerce is no longer considered simply an intermediate link between a supplier and a
consumer, but a special system of relations between a seller and a buyer.

Many argue that retail, in the form in which we know it, "dies." Taking into account the
fact that the volume of sales on the Internet is growing five times faster than in traditional
stores, the competitiveness of classic retailers in relation to digital can no longer be taken
seriously. In order for them to confidently enter the market, they need to embrace multi-
channel retail.

There are many reasons that digital retail continues to grow so fast. These are good
prices and easy to compare and a large selection, and convenience for use, delivery and return.
Trying to “be on the wave” digital retailers stimulate innovation, spending significant funds on
recruiting, salaries, improving the effectiveness of marketing through social networks and
online advertising. At the same time, traditional retailers are far behind, they are not trying to
make their main channel - the physical store - the main asset, introducing new technologies
into it.

Online competition is predictably increasing as prices, choice, convenience, and online

customer confidence improve compared to regular stores that are not willing to take the risk of
innovation. Gradual improvements - this is their limit, but also a stumbling block in the
circulation of inventories. As shoppers feel more comfortable shopping with all channels, they
become less tolerant of what they encounter in physical stores.

The multi-channel approach is a serious crisis for traditional retailers. Customers walk
past them. Online stores are gaining momentum. To keep up, existing retailers will need to
create a multi-channel strategy and accelerate change.

Studies clearly show that the thoughtful treatment of customers through online
interaction contributes to sales growth and the development of a traditional store. Using the
opportunities of online trading, a retail company contributes to the formation of a more loyal
customer base, and the desire of customers to spend more is growing.

What are traditional retailers facing in the first place on the way to upgrade? From the
beginning, they will have to admit that using new technologies is faster, cheaper and more
universal. Further, the understanding that customers want everything must be rooted and
embedded in their thoughts. They need the benefits of digital technology, such as a wide
selection, extensive product information, and customer feedback and tips. They want the
benefits of physical stores, such as personal service, the ability to touch products. Different
segments of customers will evaluate parts of the shopping process differently, but they all want
the perfect integration of digital and physical.

The retailer’s task is to create innovations that bring the idea to life, impress these
customers and ensure profitable growth. What does this mean in practice?

They need to turn stores into a liability. Stores will continue to exist anyway, and they
can become effective competitive weapons. Studies show that physical stores drive online
shopping. Online and offline experiences can be complementary.

It is important to note that innovation also requires a separate team that has autonomy,
a distinctive set of talents, various knowledge bases and a willingness to take bold risks.

For most companies, making such changes is a complex organizational order. You can’t
introduce new products too slowly at a time when the market is changing rapidly. However,
moving too fast is also impossible, because there may not be enough time for testing and
training. Retailers should quickly test and learn, but refrain from taking major steps until they
know exactly what they hope to get.

Now times are changing rapidly, and this is especially noticeable in the retail industry. As
for me, given that two-thirds of smartphone owners make purchases using mobile devices,
sellers should take consumer relations with the brand to a new level.

Retail, with the advent of technological innovation, will only get more complicated. By
focusing on strategies to optimize customer behavior, sellers will be able to continuously
develop and not only meet the needs of today's customers, but also achieve their long-term
loyalty.

It doesn’t matter where and how the purchase takes place - cataloged, in stores or on
the Internet - retailers always need to demonstrate their own special, customer-oriented
approach. Therefore, in an effort to find the most effective methods of work in retail and use all
possible methods of selling goods, retailers should carefully study what other companies have
already found, developed and implemented in this area.