How The Arienas Collective are adapting to a changing market
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A recent study created in partnership with Visa has looked at case studies to evaluate the digital transformation of SMEs and how this may be affecting the future of commerce.
Fuelled by smart technologies, mobile devices, and 24/7 connectivity, the way consumers browse, shop, and pay has been moving toward digital means. Research shows that UK consumers will spend £106.46 billion ($141.93 billion) online in 2019 (+10.9% vs 2018). This will make up 22.3% of all retail spend, a proportion that will reach 27.9% in 2023. In 2019 mobile commerce will grow 16.7%, passing £50 billion ($66.66 billion) for the first time. In 2020, mobile commerce sales will account for more than half of all retail ecommerce sales, growing 15.3% to total £58.89 billion ($78.51 billion). Smartphone commerce already accounts for the majority share of mobile commerce, and that share is expected to increase from 58.9% in 2019 to 71.2% by 2023.
The above image displays ways in which the customer journey has changed with the introduction of various new technologies. It is essential that retailers are aware of this and continue to adapt and grow to cater for these customer needs.
The Arienas Collective
Named after an idyllic loch in the Scottish Highlands, The Arienas Collective provides creative experiences and workshops run by artists of all kinds, set in a cosy Georgian mews house in Edinburgh's historic New Town.
The shop found a fairer way of supporting both budding and established artists that allows them to have a greater share of the profits. Aside from this, the shop also understands the importance of online marketing channels by having an active website and social media accounts, both of which are contributing reasons as to why The Arienas Collective is mostly found via search engine.
The shop also maintains a customer mailing list and used Facebook advertising campaigns early on in the business to acquire new customers. Online bookings for experiences and workshops are made through the website- convenience is key and customers can enter their card details directly or use a digital wallet.
To read more about The Arienas Collective and other case studies found by Visa, view the full study here.