`M-Commerce` Will Transform Global Retail Industry

The recent spate of retail bankruptcies in the UK, Europe and North America has highlighted the increasing power and influence of large Internet companies such as Amazon. The shift towards online retail has been accelerated by the diffusion of mobile devices, such as smart phones and tablets, that provide consumers with instant access to information through the use of complementary technologies including augmented reality and location-based applications. This has led to the growth of `showrooming`, where shoppers view a product in a physical store but then buy online from an Internet retailer.