The combination of the changing social attitudes, digital technologies and socio-economic change has created new rules for retailers.
“It is a world in which the needs of shoppers remain, in many ways, largely unchanged—but their expectations of how businesses will fulfill those needs are being transformed. It is an old challenge in a new world” – The Future Shopper
This is one conclusion of a report from The Future’s Company in collaboration with Kantar Retail. Rapid changes in technology have altered the meaning of ecommerce, which has moved from meaning ‘electronic commerce’ to ‘everywhere commerce.’ The economic turmoil of 2008-2009 has altered the economic landscape, as incomes have been squeezed and net wealth has deteriorated. In the process, shopper’s perceptions of price and value as well as overall consumption has been inexorably changed. Trust of institutions is another change, particularly in more developing countries.
On the Ball – focuses on profitable retail observations and insights observed from my personal experience on both the agency as well as client side of the business.
It has been said that virtually all selling and marketing is ‘retail’ – when measurable results are the imperative.
My tenure as CMO as well as agency principal centered around measurable results at the cash register…. the ultimate measure of any CMO’s job life expectancy.