Beat them or join them. See how retailers are standing out in the crowd in a world that’s increasingly full of giants.
Push the boundaries of data analytics. Enable consumers to develop relationships with your brand through digital experiences. Capture this incredibly powerful data and mobilize on it in relevant ways.
Experiment with new marketing mixes. Moving away from circular, mass-market media marketing to more targeted marketing. Get personal and relevant.
Keep it local. Adapting assortment to local demands is not new, but customers still value authentic experiences and products. Retailers increase their community engagement through digital.
Focus on fluid fulfillment. So the product isn’t available in the store. Well, can it beat the customer home? Don’t risk losing the sale to an online pure play.
Try on new identities. Create in-store experiences that make you stand out in the crowd. Consider converting traditional locations to digital formats.
Make shoppers your ambassadors. Leverage your most loyal customers for a mutually-reinforcing relationship. These “advisors” are like human billboards for your brand.
Make security a differentiator. Data-sensitivity-conscious companies will eventually achieve expanded access to consumers. Be transparent about the information you gather, and give customers control of what they share.
Display new transparency. Digital technology and smart devices are bringing consumer information about product attributes. Go beyond the label and be transparent on price and quality.
Rethink rewards. Help customers help themselves. Make it easy to locate stores, clip coupons, shop for products and earn rewards. But also consider rewarding customers beyond the product being purchased.
Master costs to enable investments. Digital technologies improve experiences, but require investments. But this is squeezing margins.
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