The ever-shifting shape of Australia’s retail landscape reveals that True Personalisation will separate next-generation survivors from yesterday’s memories.
PMP staff recently attended the Mumbrella retail summit to bring you the latest hacks from the world of retailing.
No one goes shopping anymore
Once upon a time in a galaxy far far away, people would Go Shopping. It was a quaint notion that involved planning, transport, time, and for many, paracetamol.
Today we are Always Shopping. Email, apps, remarketing, if you like it then retailers know it and will present it to you via numerous channels.
Shopping now is a button click. But it is also an experience, and for now, those retailers providing the best experience are winning.
Experience comes in a couple of forms. There is the big box experiential offer that involves exciting stores where you can touch things, see demo’s, participate in workshops, speak to experts. This is more than merely Shopping. Today’s retail experience seeks to emulate a fairground or the theatre. Something unforgettable – if done right.
That’s one part. Retail analysts tracked three distinct phases: XL (big stores), then CX (customer experience), now ME (personalisation).
The era of ME is characterised by giving customers what they want, when and how they want it.
The When and How of the ME retail era
The components of the ME retail era are not new, but how they work together – synchronised – is what separates the parts from the sum of the whole effect.
- Click and collect
- Loyalty rewards
- Fast and easy delivery
- Varied payment methods from mobile to biometric, with the latter becoming mainstream
- Auto restocking
- A more digital experience that feels less digital in execution
Getting customer data sets organised and coordinated with one-to-one campaigns is critical to surviving in anew retail environment.
All about 2022
The Mumbrella Retail Summit brought in the big guns of retail marketing to make short range predictions.
Many innovations currently in development will be in market soon, and the next four years will see some of the biggest changes witnessed in decades for the retail environment.
The key to being prepared for 2022 developments involve understanding individual data for True Personalisation.
Here’s what they had to say:
- I. will impact the industry the most by 2022
- Mobile Payment will be the most common innovation in 2022
- Hacked personal information and data will most concern shoppers in 2022
- 30-40% will be e-commerce sales in 2022
- 35-40% will regularly use smartphone for payments in 2022
- Amazon and Alibaba will have most impact between now and 2022
- 70% of people will shop with Amazon in 2022
- Product style and stock knowledge of products and experts will be least likely to be replaced in 2022
- 60% of customers will use voice applications to gain more information as well as transactions in 2022
- 60% of people will still shop in stores in 2022
The physical store will still be an important component of the ecosystem, but retailers will heavily focus on speed in delivery and use of digital technologies and channels that don’t feel digital.
When are the Robots coming?
If you’ve gone from walking around a supermarket with a paper shopping list to a digital list on your handheld, then congratulations 2008. Ordering online? You’re beautiful 2010, you really are. But you’ll want to move a bit quicker to be ready for a few changes in the pipeline.
US supermarket giant Walmart has been experimenting with robot shopping carts, which will soon seem as futuristic as fluro once was.
You load your list onto an app. Sync it to a mounted tablet, and the trolley will roam the supermarket to the location of all your goods. You can pay with a range of mobile wallet apps and once you’ve unloaded the trolley at your car, it will autonomously return itself – probably without dinging any cars.
What an age we live in.