According to a GfK survey price competition is set to become a "less significant" retail factor in the future-- instead the internet remains "extremely important," together with mobile communications and sustainability.
Developments in mobile communications, social media and market transparency are also becoming more important, while sustainability is a good means for retailers to add emotional added value to customers.
The results cover an online survey run from October to December 2012 taken by GfK and university retail experts and retailer.
The survey ranks the internet as top participant priority in both current (89%) and future (93%) timeframes. On the other hand price competition relevance drops from 84% (current) to 67% (future).
"Against this background, mobile retail concepts, multi-channel sales of former high street retailers and online shops with a strong emphasis on service were regarded as particularly promising," GfK continues.
Another important trend is the emphasis of shopping as leisure activity, with "experience stores" counteracting price cuts from the online competition.
However the internet remains poised to take over the future of retail-- survey respondents forecast 33% of technical consumer goods sales will go online by 2020. Still, 86% believe the internet is a "major opportunity for retail," and are therefore optimistic towards its potential.
