From Amazon to Etsy, ZaoZao and Zappos … through branded boutiques and online marketplaces, digital walls and mobile marketing, big data and personalized promotions … what is the future of retailing, in general, and for your business?
Walking around the Burberry flagship store on London's Regent Street, with its beautifully arranged clothes, its magic mirrors that superimpose your image in the clothes of your fantasy and place of your choice, and the VVIP room on the top floor, it is a world of imagination, where emotions not rational desire prevails. It is the work of designer Christopher Bailey who has overseen the rejuvenation of the brand from its ‘chav' ubiquity to its super premium status. The $100,000 limited edition white alligator skin jacket, not to everyone's taste, perhaps demonstrates this stretch. It is a brand that is truly global, more Asian than European if measured by its custom, and more digital then physical, based on the focus of its innovations. Burberry showcases the future of retail – as a niche focused, premium branded, hybrid experience.
SMART SHOPPERS, SMART STORES
Online retail has grown rapidly over the last decade, from a marginal bolt-on, to major revenue stream in a multi-channel model. In the USA, it has grown by around 18% per year, and now accounts for ...