Whitepaper Edition 3: 2018
Retail as we know it, is very much Alive and Well. The Consumer Remains King! Long Live the consumer! In a welter of jargon such as “Consumer Lifecycle” and “Consumer Lifetime Value” and all the rest of it, the consumer is an incredibly pampered "Being", and rightly so! While the World may seem heavily merchandised, the Consumer, like never before, is spoilt for Choice! Retail, be it E-Commerce or Brick and Mortar or indeed both, is increasingly leveraging Technology and Innovation, including, but not limited to, Video-Tagging, Stochastic Systems, Artificial Intelligence, Machine Learning and Predictive Modelling, to more or less “anticipate” what the consumer wants, before he/ she even realises that he/she wants it!
Channel-less commerce is the brave new world, where consumers experience everything identically, across all channels of interaction with the brand, including physical stores, online and mobile. After all, why fret over Omni Channel or Unified Commerce, when you have the channel-less way in front of you?
The Internet of Things, powered by super-smart home tech, like Google Home & Amazon Alexa, move you light years head, ensuring that the consumer doesn’t even have to think any more. Because these virtual assistants are capable of opening your garage door, switching on the lights at home, playing the music you want, detecting when you’re likely to run out of milk or bread from the state of your fridge, ordering an Uber on demand, or whatever else you desire!
Retail, then, is surely far removed from the armageddon, which every retail-luddite and doomsayer and industry pundit declaims and proclaims, are upon us! Fuelled by the growth of affluent consumers across geographies & social strata, products & brands are becoming increasingly democratized, commoditized and accessible to all. What was unthinkable a few years ago has become reality today. Retail, now, is just as good as the technology that the retailers use, to continually excite and motivate consumers!
Here’s a detailed view from Qwikcilver, the pioneer and leader of the gift card revolution in India and key insights gained from having recently created a strong presence across several geographies - Middle East, South East Asia and Australia/New Zealand. Click Below to Download your copy!