A NEW PAYOFF: WHY “WHEN RETAIL HAPPENS”?
Our payoff, “Where retail happens” – where there is retail, there is Retex -has long been representing us. Now it’s time to change it. Of course, it still represents our essence, yet it’s not enough anymore.
These years, worldwide retail has further developed, and Retex went along with its evolution. Change is a key point in distribution, and we tried to find new words to describe our role. We figured out, later, that one was enough.
“WHEN” IS FOR ” WHERE”
The reasons behind the new payoff are simple. There can no longer be a strategy in retail based solely on location, shelf management and inventory. It applies also to e-commerce. After all, many e-Commerce leaders are combining their market presence with physical stores, may they be directly owned or not.
The “where”, both physical and virtual, is the ultimate part of a journey made up of several “when”. The boundary lines between online and offline become blurred and constantly changing. Likewise, the timing of the purchase depends on different consumer habits that do not allow for any discontinuity.
With digital innovation – ever praised and yet often neglected- we do not refer only to technological innovation in sales. We are talking about the ability to track consumer behaviors and meet their expectations in an increasingly complex customer journey.
The fulfilment of a need, or the choice of a brand, are the result of four different intentions of an individual: I want to know, I want to go, I want to buy, I want to do.
In retail, this means gathering information about a product and its cost-effectiveness where and when the purchase must be completed or fail. Decisive is “being there” during customer’s decision-making processes.
Since 2014, mobile commerce has globally increased from $50 billion to $700 billion. Before, decision-making processes mostly happened in fixed locations and times – reading a newspaper, watching television -. Today, they occur in different and unpredictable situations.
The impulse to research and purchase can manifest itself at home or at work, in a public place, on the metro or queuing in the street, or because of a post on social networks (especially in Italy, the most “mobile” country in Europe alongside Spain). These “when” are the turning point in the game.
GOING AND STAYING
Variability and unpredictability in purchasing behavior put many retailers at a disadvantage. Growth of digital commerce does not doom traditional retail, but global society is becoming lesser receptive to old trends. If the buyer cannot not have a positive and smooth experience between different places, channels and contacts, he will give up on buying, or go to a competitor.
The future of retail is “going and staying”, rather than “taking and leaving”. And it applies to both offline and online stores. Even when the customer demands a delivery within two days, or even the same day. Or, perhaps, when they want to return goods. It is key to reach different audiences, in their specifics and times, and give them a valid reason to buy. “When” must become the quickest response to these needs, as well as a valid reason to “stay” or return later.
We empower the changes because we can understand and manage them when they take place. Sometimes by anticipating them. This has been our experience for years. If it weren’t for this, technology would be of little use.
“WHEN RETAIL HAPPENS”
When there’s retail, then. How and everywhere, we’re there.