Digital’s introduction to retail, be it a slow one, will accelerate as the understanding of the width of web and mobile broadens from being all about destinations, to integration into every aspect of business:
Find the presentation below or at slideshare.net/helgetenno.
As always find the individual slides under CC-license here: flickr.com/everythingnewisdangerous
I’ve included the part of the script describing the three areas of retail I’ve concentrated on; product, in-store and business opportunities:
In-store opportunities
The retail outlet is the most important arena for public choice. It is intense in its range of decisions, and numbing in its range of (similar) products. Inside this arena there are limited opportunities within frameworks. Frameworks put in place by the non-digital, non-organic world of cardboard and floor space. Digital transcends the limitations of the shop infrastructure, serving communication through personal devices controlled by a digital brain in “the cloud”.
In the advertising mindset the retail communication belongs to the “call-to-action” category. But this limits itself both in its expense on resources (financial and labor), scarcity of real estate and limited time span. In the design mindset the goal is rather strength through identity, creating a long lasting top-of-mind preference through establishing an interesting story, sharing values, creating memberships and avoiding the retail rock concerts of advertising.
Business opportunities
There are new business opportunities to be explored and discovered through the extension of digital and organic platforms. From engaging the crowds to taking the store to the world – not limiting access to it by physical destination. In categories where products follow patterns and become remarkably similar, it is digital and organic platforms that not only invite customers to explore and discover new, unique experiences. But also develop more layered identities, establishing thicker product relationships, and unwrap new business opportunities.
- Product opportunities
The product is not just a “brand” living on a shelf or being consumed by a member of the public. It is a character, which within the framework of a strong identity changes its characteristics to fit different roles through the stages of its own lifecycle; from the initial idea, the spark, to its realization (design), its distribution, shelf life, shared product experience and recycling (sustainability). Digital amplifies the characteristics, and helps the identity adapt at each stage.
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A special thanks to PSFK which as with a stroke of coincidence launched their brilliant PSFK Future of Retail Report just last week, adding a whole section to my presentation – I’ve been extensively referencing the source.
I would also ad these brilliant people and publications as they all helped in filtering the cases and surfacing the best ones:
Richard Murray (for giving us the best insight on retail)
and for his brilliant and extensive posts, *Supercollider at geoffnorthcott.com.
Image by: _Kempton_
Original Post: http://www.180360720.no/index.php/archive/new-business-opportunities-in-retail/
