The Importance of Understanding Retail Trends in the Digital Age

The two-prong challenge of the arrival of the digital age and the spread of the global pandemic has done much to change how people make purchases. Consumers are continuing their shift into digital shopping and increasing numbers of consumers around the world are shopping online for the first time, likely drawn by its convenience and access to a potentially wide variety of goods. As brands venture into this post-pandemic world that is increasingly driven by e-commerce, they need to adjust their strategies to take advantage of changing habits in order to thrive.

The trends outlined in this white paper – the increasing prevalence of the use of touchscreens and other smart devices in purchase transactions, the rise of digital payments, and the effect of social networks on the practice of word of mouth – are but a handful of the most important forces that marketing professionals need to thoroughly grasp to successful connect with their customers and adapt to the change retail landscape.

“Brands need to adjust their strategies to take advantage of changing habits in order to thrive.”

Prof. Hao Shen

Like most industries, retail will find a way to thrive in the digital age. But it will only be able to do so if marketers possess a deep understanding of how customer habits and behaviours continue to evolve as a result of new technological improvements. At CUHK Business School, we look forward to exploring these ongoing developments as they happen and sharing how they will impact on brands and marketing professionals alike.