Fear, Uncertainty, and Doubt (aka FUD), the infamous sales and marketing technique, has become even more common in our digital age. So, when retailers find themselves exposed to a barrage of scary information about the impending retail apocalypse, they should be wary – someone is definitely trying to sell them something.
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Best Buy rides the web to lift sales
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In 2018, you just can’t hide from the media frenzy around Artificial Intelligence. At the same time, just about every software application with semi-advanced algorithmic capabilities now claims to include AI. In all the hype, a common misunderstanding about the technology prevails.
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This year, London got a real summer for a change, and I was lucky enough to be there to represent Retail Directions at a fashion-technology event and adventure through iconic fashion districts to discover the latest retail trends the city has to offer.
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Until a few years ago, Australia’s supermarkets enjoyed a century of trading nirvana, isolated from operationally excellent global competitors. Fortunately for shoppers, Aldi and Costo arrived down under and shook up the cosy system.
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As our dependence on digital connectivity grows, we become increasingly vulnerable to unexpected and uncontrollable events that could make the systems we rely on so heavily unusable.
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Organisations that ignore their obligations under the Australian Privacy Act and poorly manage personally identifiable (customer) data can no longer hope to survive by hiding in the shadows.
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The modern customer has a large and dynamic digital footprint, data-driven analytics across all channels can yield many insights, which can help retailers better engage with their customers.
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As prolific as online shopping has become, some things just don’t sell online. This immediately creates a spectrum, explaining why some products are harder to sell digitally than others.
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Ensuring employees are engaged in the challenging retail environment is not easy, yet it is so fundamental to success. This is where games come in.
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The competitive world of retail has forged some of the greatest minds in business – warriors of commerce and hardnosed skeptics who can spot a ruse a mile away. Interestingly though, no one seems to have spotted a potentially mortal wound that has lingered unnoticed in many retail organisations for more than a decade.
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Having attended a number of retail conferences in recent months, we have observed growing chatter about AI, with some vendors and consultants claiming that it will completely transform the industry.
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