Re-inventing the Retail Business Model to Remain Relevant

100 yrs of retail.JPG

WWT Hosts a panel of experts focused “Customer Experiences in Retail”

Watch the replay or read the WWT Blog here.

Retailers mine data to differentiate, provide great customer experiences https://t.co/0CvNvE6iQB.  Watch @WWT_Inc webcast https://www2.wwt.com/watch-our-customer-experience-in-retail-webinar-on-demand/

WWT2.JPG

Throughout history retailers have had to reinvent, refine and repurpose; their business models, physical presence and promotion of their brand.   The widespread adoption of smartphones has once again forced retailers to change their business model.  Beyond the smartphone retailers are encountering mega-disruptors which too are re-shaping the landscape of the shopper behavior and the industry as a whole.  This has transformed the shopper behavior, specifically their non-linear approach. The shopper journey has evolved to jumping back-and-forth into digital-virtual and physical sources, gathering information. All of this creates digital “bread crumbs” of data, which represent significant opportunities for retailers. By analyzing these bread crumbs retailers can better understand their customer base, which products or services will sell best and ultimately lead to a higher conversion, shopping basket size and customer loyalty.

A major resource for the shopper is the increased use (and dependence) of various digital screens in daily life.   Analysts tell us that in the developed world, most of us live our lives across ten screens (more digital bread crumbs).

multiscreen.JPG

My colleague and Director of World Wide Retail Strategy for Intel highlighted Retailers have a unique opportunity to differentiate, gain competitive advantage and improve their customer experiences through the use of data. The operating environment for retailers is complex and costly. However, as Jon states “Smart retailers are integrating technology to mine data, turning the information into competitive & operating advantages.”  Through the use of analytic platforms retailers are better able to understand customer behaviors and needs, whereby delivering a seamless, personalized retail experience regardless of the sales channel – ultimately leading to higher tickets, increased shopping basket size and a deeper loyalty.

Take a few minutes to watch this short 37 minute video.  How can Intel help transform your retail experience?

Find me on Linked-in

Follow me on Twitter

Interested in what my colleagues are saying about the Retail, Hospitality and Consumer Goods Segment?  Find out more in the Intel communities

 

‌ ‌

Published on Categories RetailTags
Michael Taylor

About Michael Taylor

Senior Marketing Manager at Intel. Mike Taylor is a senior marketing manager with 23 years of experience at Intel. In his current role, Taylor is focused on delivering innovative mobile solutions to the retail vertical segment. His extensive experience includes working with leading companies across hardware OEMs, with software developers, and with industry groups across numerous audience segments. During his career at Intel, Taylor has repeatedly led feature-rich products to market through all sales channels. His strong industry marketing perspective includes key strategic engagements with industry leaders. Taylor started his career at Intel as a small business program marketing manager and subsequently went on to become a consumer platform manager, a smart TV platform manager, and a retail and enthusiast marketing strategist, prior to his current role. His specialties include online marketing demand generation programs, consumer electronics marketing, B2B and B2C product launches, and technology adoption. Taylor graduated from Oregon State University with a Bachelor’s degree in marketing, and from the Oregon Graduate Institute with MS of management, marketing. You can follow him @MATaylor67 on Twitter.