Millennial 2020: the future of retail awaits | CNBC International


You may think that hitting the shops
is a thing of the past, but as it turns out Millennials still enjoy the good old brick and mortar experience. So what will future stores look like? The Millennial 2020 conference has the answers. Shops are not going to be
only the place to buy something, but it will be to experience the brand, to experience beyond, to learn,
to share what they are learning to take pictures, to take a video,
to do offline and to do online. So I think it’s going to be, I would say, a very much more experiential space than actually a place to buy. For Generation Y it’s the journey that matters,
not the destination. So it’s all about the retail experience and technology is the way to provide it. Websites are becoming more and more immersive. And I think this is you know the
advent of augmented reality, virtual reality so really exciting space. So if I can take my website visitor and make them much more
engaged with me as a brand, as a retailer then it is going to help,
it’s going to improve the conversion rate, it is going to make me more sticky
and I am going to be more engaged. I am going to come back
and I’m going to spend more. And here is how it works … Let’s say for instance I am shopping for a guitar, I want to find out a little bit more about the product, if I click here, it is going to connect me
to an in-store sales assistant. – Hi, welcome to Dawsons – Yes so I am interested in that guitar, can
you show me a little bit more about it? Brands and retailers need to focus
on the consumer experience, the consumer journey experiencing
that specific product or brand. Once they do that, even if that is in stores, if it’s online, this is offline, in different
moments of your life, touching the brand, I think then it is going to be seamless. So the future may be online or
the future may be on the high street, but one thing is clear… The experience better be good.

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