There’s change in the air.
There is no doubt that customers are changing… and so is the retail landscape. Aussie retailers who keep their ears to the ground can hear the vibrations of the Amazon approach. It’s on the minds of major retailers, it’s being discussed at board meetings and it’s being written about in most major retail news publications…the hype is real, there’s fear and excitement in the air.
But this article isn’t about Amazon. It’s about what Amazon stands for…a completely customer centric approach to retail. This approach will be the future of retail.
There was a time earlier this century when retailers had to choose between embracing the internet or shunning it. Some chose right and took advantage, others did not. These days we know that physical stores need an online presence to thrive.
We’re now on the cusp of more industry-defining change with automation, cognitive technologies and intuitive shopping technologies being implemented across the globe. Coupled with a new generation of shoppers who have never known a world without mobile phones, internet and easy, fast access to everything they desire, the world of tomorrow will demand change from those retailers who desire to thrive.
The retailer of tomorrow is one who focuses on the customer, and uses the technologies available today to cater to that customers needs.
Characteristics of the retailer of tomorrow:
Products are important but customers are more important. The retailer of tomorrow won’t focus purely on getting their products out the door, they will focus on their customer’s needs, and by identifying those needs, learn how to define their business, including their product range.
As consumers, we live in a fast-paced, technological world and everything we need is at our fingertips. As the younger generation inherits the earth, a generation raised by technology, the need for retailers to be accessible through mobile devices, will only grow.
The retailer of tomorrow will not be multi-channel, they will be channel agnostic. This means they can access your store, your products, your services, your support by any means, with ease. All sales channels should be unified and seamless. In the future our cars and houses will tell us what to be and where, and retailers need to be on top new developments in retail technology to remain relevant and available to consumers.
Society exists now both in the real world and in the digital one. Our online avatars have as much life as our human bodies. The channel agnostic retailer of tomorrow is social across all plains, accessible across all channels and relevant in both worlds.
We’re more connected than we’ve ever been. The retailer of tomorrow distributes globally but targets locally. Your customers are scattered across the world, individuals, groups, communities, they are the ones who will drive your product.
In this ever changing world, the retailer of tomorrow will always have something new. Move quickly, be fresh. This comes from staying ahead of trends, redefining trends, being a part of the changing world, offering the latest in both stock and customer experience.
Make your customers feel something. At the end of the day, we are humans, and humans long to feel, it drives our decisions, it defines our memories, it influences our actions. We want what we like, and we avoid what we dislike. The retailer of tomorrow will aim to surprise, amaze, delight, through product, and ambiance and ease.
There is much opportunity in the changing world and while change may seem daunting it will be endlessly rewarding for those who take advantage and ride the tsunami.
Hopefully this article has helped you to think about how you can become a retailer of tomorrow. For help with your retail journey feel free to contact us. We’rr