We live in highly-connected world where increasingly, people and organizations of all sizes have access in real-time to data from around the world and involving various industries, thematic and sources
Millennials (under 30) and
GenY are at the core of excitements as they are playing a large role in the
in-store shopping revolution; their smartphones are basically an evolutionary
extension that the retail industry has to leverage.
All retailers must become
omnichannel and harness the power of the smartphone by developing
next-generation, personalized experiences.
As retailers do not only have
one type of shopper, the first step to understanding the customer base is to
bring inter alia online analytics to the real world by leveraging existing
technologies, such as iBeacons, camera analytics, VLC, and Wi-Fi.
Retailers must upgrade and
aggregate all data; combine data with innovations around inventory, point of
sale (POS) systems, and online information.
The retail industry that is slowly
embracing new technologies should understand that, we are now exposed to a new
shopping world in which the value of a physical store will no longer be
measured in sales, queuing will not exist, any surface will be a storefront;
customers are able to find and buy any item at any time, and clothing will be
shared, tried on virtually, and printed at home.