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WWD.com – New Age Of Retail with Vic Bageria

In The New Age Of Retailing

Shoppers today are armed with more information than store associates. And they are less patient than ever when it comes to the store experience. In the new age of retailing, 43% of retailers have increased store operations budgets. 71% of retailers now offer in-store WiFi for shoppers and 28% have Beacon strategies in place.

Despite all the hype about in-store technology & omnichannel, fundamental operations and communication are still the forefront. the greatest store operations challenge is clearly identified as being communications between stores and headquarters. The communication between stores, the brand, and its customer is equally critical. The infrastructure to support this three-way communication is nearing an end for most retailers. The key is being able to use new technologies to address fundamental operational & communications issues.

The term ‘New Age’ is identified as applying to a broad range of retailers attempting to occupy different market positions. The focus for those who have invested in store technology must now shift to maximizing & enhancing these capabilities. Budget increases to support the new technology and training are outpacing more traditional budget focuses.

Video is now the way we communicate with 80% of all online material will be video in the next five years.

2020-07-01T10:22:07+00:00

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