Tony McGrath
24 January 2012
Fitch Ratings predicts retailers with multichannel components, including physical stores and online stores, will perform very well in the upcoming year compared to smaller independent high street retailers. The rating agency came to this conclusion after sales figures showed holiday ecommerce sales were higher than in-store sales as more shoppers are shifting to online purchasing.
The change in consumer behaviour is expected to continue, and Fitch predicts the increase in online sales will challenge current retail business models and encourage more multichannel efforts in the industry. In addition, the growth of purchases made from mobile devices will prompt retailers to invest in mcommerce solutions to attract these shoppers.
In one example of how the web is changing retail business models, the founder of LinkedIn is working with the founder of Skype to offer consumers a new way to obtain and share online gift cards. Wrapp allows customers to easily send recipients digital gift cards from top brands looking to attract new consumers online. The online store will soon be available to customers in the United States and the U.K., with plans to expand into major markets in 2012.
The service also has social media and smartphone variations, so shoppers can pick up discounts on the go or share gift cards with friends in their social networks. Groups of friends can also purchase gift cards as a group present via social media.
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