Modern retailers must be nimble, engaging and relevant to the changing needs and wants of tomorrow’s customers; at both a functional and emotional level. This evolution can be seen now in the following shifts; from physical to digital, from owning to sharing, from shopping for products to buying tailored solutions.
The Art of Modern Retail
While we believe that customer behavior is still largely driven by inspiration, value, and convenience, it is now clear that retailers need to continually evolve to meet these ever-changing needs.
Today we are seeing the dawn of new technologies that promise new ways to delight consumers: IoT, VR/AR, Robots, Machine Learning & AI, Blockchain - all underpinned by big data which is paving the way for a more intelligent customer interaction.
As customer journeys and value chains become digital and connected we see the emergence of ecosystems & multifaceted, global technology platforms that dramatically change the way that we shop, socialize, communicate, and source information. An important aspect of the success of these platforms is the way they use multi-party ecosystems.
The Future of Retail
All of this change brings the opportunity to create a better world. As demands upon global resources continue to increase, cost and societal pressures push retailers to shift toward more responsible business models, and organizations must embrace the sustainable movement when it comes to their own products and services.