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blog
Digital has transformed the way we live. In almost every walk of life, the smartphone elevates our experience, adding value and streamlining the way we do things. Within retail, digital is transforming everything from the consumer experience, to marketing and the supply chain. The consumer is now a digital shopper, with the whole of the internet at their disposal – a gigantic cybermall that never shuts, and where the journey from browsing to buying can be condensed to mere seconds and often just one click. Read the rest of Tim’s article in The Grocer here to read his recommendations for cohesive, digital-led retail operations, identifying the in-store experience as the crucial area for providing the much-needed digital connection to consumers.
Whether Amazon, Uber or Alibaba, there's a lot written about these digital-only players and the impact they're having on the traditional high-street and more traditional businesses. But maybe they're missing the real challenge - customers just don't want what you sell. Or more specifically, how you sell it. You can argue about tax advantages, skirting existing regulations or the perceived benefit of not being tied to an existing estate of bricks and mortar stores. However, the real advantage these digital businesses have is simply a focus on the customer rather than the product.
Retailers understand that loyalty programs are crucial to their success, not only in terms of generating incremental purchases but for better understanding their customer behaviors, preferences and motivations. But what makes a loyalty program effective? Are there key pillars retailers must embrace to get loyalty right? And what happens when consumers – and the retail landscape itself – starts to evolve?
Marks & Spencer has just announced an exclusive joint venture UK partnership with startup accelerator Founders Factory to develop emerging retail technologies. The news follows barely a month after forging a partnership with Microsoft to integrate AI technologies into its customer experience, stores and wider operations, as highlighted by Eagle Eye CEO Tim Mason last month.