Cegid Thought Leadership: NEVER MISS A SALE from a customer who’s never ‘not shopping’
As part of our “Future of Retail” supplement series, Tania Oakey, marketing director (retail) at Cegid – asks “As the digital transformation unfolds, how can retailers excel in the next chapter?”
Omnichannel commerce is continually resetting to a new normal. Consumer expectations inch higher and retailers respond. As the digital transformation unfolds, how can retailers excel in the next chapter? Retail has experienced a period of unprecedented disruption and has emerged as an industry that looks and operates quite differently than it did a decade ago. In its 2018 report Retail with Purpose: Powering Future Growth, Accenture said: “In the past, offering the right product at the right price might have been enough to win over customers. Now, the world is an integrated marketplace where the number of purchase points has exploded. Customers can shop everywhere at any time and buy on impulse across a variety of channels. And they expect retailers and brands to adapt to their changing lifestyle; one that is focused on convenience and with a priority on experiences.”
The act of shopping has become ubiquitous and has been swept into the swirl of digital content consumption and engagement of daily life. In 2016, Harvard Business Review published a seminal article whose title still rings true today: In the Future of Retail, We’re Never Not Shopping. The article’s author Werner Reinartz, a German marketing scholar, said: “Shopping as a discreet activity in a given place and time takes a distinct back seat. Now, the transaction becomes an ambient activity that is executed everywhere (at home, on the go, at work, in leisure) and anytime.”
Read the complete thought leadership piece here.
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