Innovation has become one of the key words within retailing, with companies from all categories and channels looking to offer the best and latest in the business to their clients. Intelligent assistants, interactive stores and displays, omnichannel operations and modern payment methods, amongst other technological elements, are present amongst all players in one way or another.
2020 saw the arrival of new services within the streaming arena in Chile. Amazon Prime Video and Disney + were amongst the new arrivals, helped along by consumers staying at home and looking for new entertainment options.
Knowing that consumers were used to buying via Cornershop, a last mile delivery platform, Cencosud, owner of the Jumbo brand, understood that it would be difficult to direct them to its own app. Cencosud therefore partnered with Cornershop to extend its online reach and cope with the huge strain being put on the e-commerce system.
E-commerce, in all industries beyond retailing, should see growth stabilise over the forecast period. Some players will likely experience strong sales, but the reality of the re-opening of physical stores, entertainment venues, restaurants and other economic areas, and the preference of many consumers for physical interaction with these, will undoubtedly level the playing field.
Most consumers have chosen to reduce their interaction points with retail, going through an omnichannel experience where the friction between digital and physical has been greatly reduced. Brands like Cencosud and Falabella, present in many formats from grocery retailing to department stores, are greatly positioned to capitalise on this.
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