Retailers of all sizes are scrambling to keep up with rapid shifts in technology and in customer habits and expectations.
Walk around a retail trade show, like the annual NRF Big Show, (OK, we did) and you’ll be bombarded with the phrase “retail transformation.” Everyone knows the industry is changing at a maniacal pace. The big question, of course, is what should retailers do about it?
We caught up with two experts at NRF, both of whom made the point that retailers, and digital retailers in particular, have to find new ways to think about their jobs and how they organize their enterprises.
Optimove founder and CEO Pini Yakuel said retailers need to do better at getting past their fixation on acquiring customers. Sure, attracting consumers is important, but if you are acquiring a customer who makes one purchase then disappears, you’re not doing your business any favors. In the video below, Yakuel talks about the “gold mine” of data that retailers have concerning existing customers and how best to use it, so you don’t need to acquire the same customers over and over again.
For his part, Dan Chester, ForeSee’s vice president of retail sales, says digital retailers are grappling with the best ways to keep up with customer expectations. Chief marketing officers, for instance, are juggling a mind-boggling number of technologies and all the various constituencies that rely on them.
Their big challenge, he says in the video below is making sure all the pieces and people are integrated and working toward the same goals.
Mike Cassidy is BloomReach’s storyteller. Contact him at firstname.lastname@example.org; follow him on Twitter at @mikecassidy.