Retail’s Revenge: Globally Organized for Local and Targeted Services
After ten years of two digit growth, e-business showed an awesome way for innovation, and promised another smart theme for the future with mobile web. Some smiled and some cried. New pure players found gold and the philosophical stone, brick and mortar stared as if fever was on, and some other retailers tried to play with web, finding a complementary way to mix retail and online. But before this maturity in mindset, pure players set up evil, in old traditional retail business…and drove to large lay offs in the industry. Not really sexy is it?
And the least all the e-business innovation could do, was feed another story for retail, increasing traffic, targeting, consumption, accuracy in needs and shopping and so on. It seems the time has come, with so many initiatives, web or mobile, to help retail in the “new shape” of modern business.
Let’s take a snapshot of the awesome changes and opportunities that could be offered to retail, with mobile innovations. Several parts of the value chain can be shifted as:
- the battle for information: ability to check any product, scan online and find your personal shop, with relevance, perspicacity
- the battle for loyalty with the incredible passion for virtual wallets, saving points from consuming, winning vouchers enforcing the loyalty of customers, from an online sign up to a loyalty program. A smart way to increase consumption in retail, directly from web sessions
- the battle for promotion and traffic, boosted with the geolocalization of both, customer and offer, enhanced the purpose debate and lead customers back to retail
- the incredible dilemma for choice, is turned into a game with the social shopping sessions that make fun with comparing, chatting and targeting together, for a focused “buying raid” to the most relevant retailer of the place
- the whole noise before, while and after the buying act, that makes “buying” an event in itself: dealing with fashionistas, bloggers, influencers is a full win-win combination for pure pleasure
Right now, some players cope with the whole thing with talent, relevance and friendiness. I would suggest to take a look at some of them, while they are known to drive traffic and give back to retail what the Internet has probably hijacked for a moment. Check at sites like:
- Shopsocially, Addoway, Blippy or Buy.com
- Pikaba, Givvy, Shopcade, Shopwithit or Buyosphere
They bring new innovation in the sale surface, allowing customers to:
- try before buy
- socializing between other customers and vendors
- while walking on sale surface, ability to know best promotions, comparing and prices, close around the shop
- sometimes consulting a screen instead of using vendor’s service: more educated, self-skilled and well informed, the social media environment allows to bring more transparency to the whole chain
- get in touch with crafts, completing the online experience of “colors” and chatting with vendors about products, new arrivals and “fitting”: social calls social. Sales and retail are definitely a social experience, moreover than online, probably more transactional than relational in fact.
- Share, talk and guide until the good choice (place+price+promotion+offer): the experience, experienced by others
No need to say that screen invaded us more in the house than in retail first, but then the whole chain of “screening” is played before, while and getting to retailers’ places. The long tail for learning social media empowers all the actors for this new kind of capturing attention, figures and profiles, and raising loyalty in the end.
“Revenge” could be done if retailers integrate more and up, the screens and online features, in their communication strategy to bring new services and convince (at least), own customers to shift so. But means that vendors are trained and prepared to let these new tools sometimes help, sometimes replace few parts of their jobs. Diversity functions with humans and I guess with the hybrid ability to cope with machines too, bringing on the best for all and synergy back in between retail and web.
One thing is sure is that, despite equipment, we need to think and imagine all the best experiences for customer, and do it in our times. And our times are definitely wired, connected and social. As one said, “customer may be a media” now…
To learn more:
- a discussion for Indian retailers, with social media alignment to operations: http://www.slideshare.net/vdimauro/the-future-of-social-retail
- social retail blog: http://socialnetit.wordpress.com/tag/social-retail
- social retail forum: http://socialretailforum.com
- interesting post: http://www.digitaltimes.ie/2012/03/why-retail-giants-are-eyeing-social-media-apps
- Image Credit: Bigstock Photo