Technology may hold the key
Posted on in Business News , Cycles News
Mobile technology holds the key to competing in the new retail market that is defining 2019.
Attention in the last couple of weeks has been on how retailers can compete in a tough, high standard market space.
The new retail market brings competition with Amazon, online brands and industry retailers as well as another side of competition from growing retail platforms like Instagram and Facebook. Mobile technology is also a playing factor in the competition changing how people shop and what they demand from the shopping experience.
What is so successful about Amazon and Instagram is that they tap into the retail market space challenges and competition and give customers what they want.
But advertising on Instagram and creating an online delivery platform is not always the answer, especially for independent retailers. Look at what Co-op and Made have done so successfully.
Co-op launched itself into online retail with its mobile-first approach to grocery ordering, but, Co-op uses technology to not only create a baseline for shopping but also to paint two-hour delivery as the new battle.
Made has used technology to their advantage as well, in a completely different way, with technology smoothing the shopping journey across all channels.
So what is the key to a new retail future?
Bringing together the technology, the new channels and understanding how your store can work in harmony with the new retail market space for your store and your customers, no one else's.