Merchandising and Retail: The future is not what it used to be
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Transcript of Merchandising and Retail: The future is not what it used to be
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What is your image of the future?
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5-10 Year Retail ETDʼs• Continued integration of online and physical
experience, declining dominance of physical• Continued rise of peer-to-peer commerce• Intelligence built into products and processes• Expectations for environmental and social
responsibility - especially of companies whose products seem related to these values
• Growth in local and village centers• Mobile access becomes critical • Brand democratization• Convergence of company, employees, brand
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The future creates the present…
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Aging populationand DIFM
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Not a Mystery
•Economic Struggle•Old, Young •Tech Acceleration•Environment & Lifestyle•New Retail Realities
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AORTA Technology Rules
From WEB To STREAM
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Global Weirding
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Environment & Life Styles
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Image credit SuperAlloys.com
Data is the new oil...
Based on: Gerd Leonhard
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New Retail Realities
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People of the screen will not accept old limitations...
Based on: Gerd Leonhard
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Business of the future is about making the experience fluid...
Based on: Gerd Leonhard
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Reality:People Buy Differently
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the Delta Touch Faucet typical timeline
See adverts
Read Reviews
Search Online
Choose Make, Model
Choose Retailer
Buy Faucet
Aware
Consider
Purchase
15 Days10 Days5 Days1 Day
Based on: This Fluid World
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the Delta Touch Faucet actual timeline?
Read comment from Facebook friend whorecommends make, model, retailer
Buy Faucet
Aware
Consider
Purchase
6 hours3 hours1.5 hours0 hours
Check Facebook page andwebsite of retailer
Talk with spouse
Based on: This Fluid World
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In a networked society interaction comes before transaction
Based on: Gerd Leonhard
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Sylvania Facebook Masterful Makeover
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A co-creation feedback loop
enable people to create and share ideas with social media tools
update strategy based on information learned
accept alternate ideas and comments
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Brand Democratization
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Brands are built
and can be destroyed
increasingly outside our control
Original Source: This Fluid World
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Every internet device is a publishing tool
Once on the internet, information lasts forever
Public access to information includes the customers, employees & the boss
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©iStockphoto.com/ozgurdonmaz
From Customersto Fanatics
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Fanatics Can Make and Break Your Brand
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5 Strategic Principles
Foresight improved by thinking long termStrategies need to be nimble, agile and near termAllocate resources for involvementPrepare scenarios, monitoring systems, and response protocolsBe proactive, be brave, be human
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The future is not something that just happens to us
The future is something we do
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