search.noResults

search.searching

note.createNoteMessage

search.noResults

search.searching

orderForm.title

orderForm.productCode
orderForm.description
orderForm.quantity
orderForm.itemPrice
orderForm.price
orderForm.totalPrice
orderForm.deliveryDetails.billingAddress
orderForm.deliveryDetails.deliveryAddress
orderForm.noItems
22


Future of Retail — Omnichannel


issue 07


with retailers to discover what becomes possible when third-party data, social media- generated demographic data, online traffic data, web analytics, weather forecasting, and sales and labour data come into play as well. With the right understanding of how to process and analyse these data sets, retailers are building out insights that will help them understand customers better, predict their behaviour, and improve both the customer experience, and profitability. Leading retailers are combining online and


offline data to build a 360-degree view of shopper needs across all their sales channels. By blending data sets, retailers can be more accurate when forecasting both in-store and online demand. It becomes possible to spot early signs of best-sellers and slow-moving stock, and plan replenishment and product positioning more accurately across channels. Retailers can learn which marketing and social initiatives are leading to an increase in conversion. With rich demographic data, retailers can tailor their merchandise and promotions accordingly, and benchmark the impact on traffic over time.


BRICKS-AND-MORTAR RETAIL IS ON SOLID GROUND We believe three things are currently happening in the physical retail space. Firstly, there is still store expansion from traditional retailers. In the US, Lowe’s, Urban Outfitters, Target and Costco are all progressing with ambitious opening programmes. In Europe we see Zara, Aldi, TK Maxx and Oliver Bonas also investing in store openings. Even the world’s online behemoths such as Amazon, China’s Alibaba and JD.com are ploughing money and radical ideas into bricks-and-mortar retail. Secondly, retailers are re-inventing and


remodelling themselves with store formats that suit their broader omnichannel strategies. Nordstrom Local is being piloted in the US - a small store format that does not carry its usual department store inventory, but instead offers tailoring services, manicures, and style consultations. In Europe Zara has launched its first click and collect format store at Westfield


Stratford London, and countless retailers are now hosting click and collect services in stores. A third trend is that retailers are investing


heavily in becoming ‘stores of the future’, a drive towards offering a more emotive, fully- connected shopper experience. Technology in stores, such as interactive kiosks, immersive VR and AR features, and digital signage are enlivening physical environments, and helping online and offline consumer expectations align. In the UK, both Marks & Spencer and John Lewis are rolling out handheld digital devices for store staff to better assist the cross-channel shopper. In the US, Macy’s has introduced virtual reality furniture shopping in some of its stores, bringing sales- enabling digital tools into the traditional retail space.


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72  |  Page 73  |  Page 74  |  Page 75  |  Page 76