A product centric heritage has perpetuated a focus on purchases. Winning is no longer just about the sale today, but how to reduce the overall customer effort and making it easy to do business across time and place.
The “passenger economy” created by the convergence of autonomous vehicles and ride-hailing will be worth $7 trillion a year by 2050. In USA, consumers spend 1.2 billion hours per week driving to the mall, finding parking, wondering around aisles, checking out and driving home. Smart Car Innovation.
To grow subscriptions and ecommerce volume in general, retailers must do more than deliver the last mile. Home delivery is NOT a highly valued convenience if the customer has to worry about time slots, access or theft.
In responding to customers escalating demands, most retailers do not have the resources to do everything in house. Finding the right partners can bridge gaps to create win-wins that will be critical for future survival.
The rules of retailing "are being rewritten in this time of transformative change. Innovation, integration, and automation will be required to reinvigorate commerce, profoundly impacting the way retailers do business now, and in the future. Global Top 250 retailers, welcome to the disruptive future.
Rising consumer expectations are creating unprecedented demands disrupting traditional retail. CEOs not only must deliver quarterly profit, but also cope with a new reality - "the future ain't what it used to be".
ideo, personalization, and emerging technologies will transform the retail industry to new levels. Look "below the surface" and leverage these trends in defining your successful future of retail.
An annual tradition is to walk the floor observing the technology themes, speaking to lots of retailers and industry friends, and creating my own personal list of the foundational ideas that are evolving the retail industry. From 20+ observations, here are top 10.
Few retailers can copy Amazon, nor should they try. Each must honestly evaluate how they can meet rising customer demands.