It is clear that the boom in online shopping has a main cause called COVID 19.
But how long is this situation going to last? Will this eCommerce bubble deflate when everything is back on track? Some experts suggest that we will continue talking about Coronavirus at least until 2023, which suggests that online will continue to gain share over offline, although growth could be less accelerated.
At the eShow Barcelona, one of the most awaited presentations was Back to the Future of Retail by Dimas Gimeno (president of Kapita and CEO of WOW), where the former ex-president of El Corte Inglés invited us to do a retail reset analyzing the big 4 waves of transformation that we have experienced and the importance of knowing how to surf them:
- Globalization; based on opening stores.
- Digitization; promoting the online channel.
- Socialization; putting the customer at the center.
- Sustainability; through purpose and values.
“At a time of transformation like the current one, the worst that can happen to us is not knowing how to read the paradigm shift we are experiencing well and remain with our arms crossed.”
The 8 realities of retail:
- Saturated market
- Hyper fragmented market
- Connected generation
- Big commerce
- Disruptors (Digital Native Vertical Brands)
- Physical stores
Have we already reached the retail apocalypse? Retail is not dead, what is dead is boring retail (Steve Dennis)
According to Gimeno, retail is not dead, the link that connects the experience of the digital and physical world (Phygital), will be called C-Commerce or Connected Commerce, where the 8 C’s will be the protagonists; Customer, Community, Content, Curation, Customization, Convenience, Culture and Circular.
You have to give the client what they want before they know they want it and once they have it they can’t live without it.
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