Retailers need to capitalize on the meteoric rise of the Gang of Four
Guest Post by
Nakul Srinivas, Assistant Marketing Manager - Retail, CPG, Logsitics and Life-Sciences, Infosys
Google, Amazon, Facebook and Apple - or the Gang of Four as they are commonly known - have revolutionized our shopping habits and have become an inherent part of our everyday life. Multi-channel shopping (shopping through various mediums such as mobile, online, kiosks, brick and mortar etc) is not just a buzzword. It is now a way of life. The whole buying experience is governed by new forms of interactions. Digital Technology is changing the way we interact and engage with brands. The shopper of the new era stands to gain immensely from smart retailers adopting digital technology to create a holistic shopping experience. By analyzing shopper behavior and purchasing histories, retailers can now offer more relevant and appealing products and improve shopping experience. Supermarkets can populate aisles in their store based on an understanding of what a consumer really wants by accessing a treasure trove of information through social media sites, loyalty programmes and the likes.
While a cursory evaluation might lead us to believe that Digital Shopping is all set to replace the traditional High Street retailer, this couldn't be further from the truth. Retailers that have a physical presence can really go from strength to strength as they harness the power of digital. In order to be effective however, they need to balance the real and virtual experience for the shopper. Adding digital technologies to traditional retail outlets might be a good way to start. Retailers stand at an interesting juncture where they can deliver a true multi-channel shopping experience.
I was reading a view point by our Europe Head for Retail CPG, Logistics , Karmesh Vaswani , who had shared his perspectives on what retailers can do to keep up with the Big Four - Google, Facebook, Amazon and Apple on the BBC News website. The article can be read from here : http://www.bbc.co.uk/news/business-19426023