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Do retail traders have to go online?

By Vladimir Tsvetkov, managing director, SapientNitro Russia

 

Despite the considerable growth of electronic comers, classic trade is still alive and will occupy a solid share of retail trade market. However, new technologies development will change the entire outfit of the whole retail trade very soon.

 

Nowadays, we see that technology development gradually fill the gap between physical and digital space; between individual and shared; between online and offline.

 

All technologies are interconnected with the customer being places into the cross point. The use of consumers’ personal data, their preferences, spending habits, etc., can radically upgrade the whole process of shopping, making it truly digital and interactive. In turn, customers can now choose where and by which channels they will go shopping tomorrow.

 

This integrated bidirectional user experience is called omni-channel retail. It differs a lot from the classical interaction between brands, sellers, and consumers that used to take place in the recent past. This path relies on the creation of integrated communication channels between the brand and consumers using all possible distribution channels.