 The impact of digital technology on consumer purchase behaviorSue Yasav
Journal of Financial Perspectives, 2015, vol. 3, issue 3, 166-170 Abstract: The retail industry is going through a transformation, according to a study by Synchrony Financial. The transformation is largely driven by the influence of digital technology on the shopping experience. According to the third annual Digital Consumer Study, almost 50% of consumers say they have performed shopping-related tasks on their mobile phones in the past three months. Consumers state they are using digital technology to research, browse and purchase, sometimes all on one website. As a result, retailers have implemented new strategies to attract and retain this omni-channel shopper. Some strategies include responsive website design, free shipping offers, mobile alerts and content marketing. The imperative to implement these digital tools has gone from spotty and isolated, to mainstream and necessary. In this article, we summarize the results of the Digital Study and outline strategies retailers use to proactively engage this new shopper. Keywords: Digital technology; consumer behavior (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:ris:jofipe:0094 Access Statistics for this article Journal of Financial Perspectives is currently edited by Ms Alina Stefan More articles in Journal of Financial Perspectives from EY Global FS Institute 1 More London Place, London SE1 2AF, UK. |
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