This past holiday shopping season retailers reported a decline in shoppers coming into their stores. According to the Associated Press, retail sales rose 2.7 percent in November and December, to $265.9 billion, but actual store visits declined 14.6 percent. We know where these shoppers went, online and mobile. This digital revolution is not just happening to retailers, but in banking as well. For example, Bank of America’s widely reported announcement that they will be closing more branches this year is because of their big investment in mobile, and Bank of America says its branch banking network could drop below 5000 next year as mobile channels continue to take market share.
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