Breaking through new retail frontiers

Written on 11 June, 2013 by Karen Lim-Sam
Categories E-commerceEventsTags customer behaviour

Consumers have changed their buying behaviours. Enabled by new technologies shoppers are now using mobile devices to comparison shop, access in-the moment promotions and consult friends or family before buying anything.

Today, winning market share requires retailers to leverage technology shifts to their advantage and turn business intelligence and data into actionable insights for growth. Insights into technology, art, fashion and entertainment are inspiring retailers to create the best showcases of product online and newly identified demand chains are being actioned into amazing omni-channel operations, allowing customers to interface through any device of their preference and shop without boundaries 24/7 anywhere at any time.

Embodying these factors for success, retailers and suppliers are revolutionising the user experience by creating the retail models of tomorrow making for one of the most retail regeneration times in history for those skilful enough to grasp the opportunity.

This collision of the virtual and physical worlds is fundamentally changing consumers’ purchasing behaviours. Consumers are seeking an integrated shopping experience across all channels, and expect retailers to deliver this experience. Failure to deliver puts retailers at risk of becoming irrelevant. The key drivers of this customer revolution are the rapid adoption of mobile devices, digital media and tablets equipped with shopping apps.

UK retailer John Lewis exceeded online sales of $1 billion 12 months ahead of schedule. In August at Online Retailer Simon Russell, Director Retail Operations, John Lewis will be discussing the ‘shop of the future’ vision from both a customer experience point of view and a business operating model along with the delivery of all retail programmes including the key IT Omni Channel infrastructure.

“It’s an exciting time for retail at the moment with customers becoming much more demanding and expecting to see the digital and physical world collide together. That brings real challenges for retailers and those people that face up to it will defiantly be the winners and those that choose to ignore it will do at their peril.” - Simon Russell.

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