Funnily enough, it’s only now that the last laggards are finally beginning to spin up e-commerce sites as they realize they’re slowly sinking deeper into their single channel swamp.
So… what does the future of retail look like and what might an airport have to do with this?
Well first off, Omni-Channel’s a great buzzword, but how best to define the term and how can retailers (and even airport authorities) get from where they are today to the promised land?
This week’s share ‘Videos and Visions: Of Omni-Channel and Airports’ seeks to shed more light on both the definition and growing manifestation of future state omni-channel retailing.
To get started you should check out part of Jim Tompkins video ‘The Titans’ specifically focusing on his third game changing strategy ‘Omni-Channel Retail’
The entire video is 34 minutes long (well worth a look) but for today’s purpose have only selected the last 15 minutes in which Jim puts forward one of the most condensed, compelling and complete definitions of omni-channel retail I’ve seen to date!
Sure hope you enjoyed Jim Tompkins expanded views on omni-channel retail and how mastering same will truly be a game changing strategy for those retailers who successfully cross the chasm.
Evolution to omni-channel retail is all about transforming the customer journey and what better place to begin talking about journeys than the airport!
Omni-channel evolution is all about taking the ordinary, re-imagining what could be and then recreating the traditional customer experience into the extraordinary.
This is what has been done at the Frankfurt Airport through their omni-channel e-commerce transformation as highlighted in this video!
How are 160,000 daily travellers contributing to making the Frankfurt Airport the largest shopping mall in Germany?
The answer is e-commerce integration leveraging space and time to uncover opportunities for travellers to take better advantage of time during delays, stores in other terminals of airport and keep up with gate changes to ensure packages get to passengers before departure.
These opportunities also extend to arriving/returning passengers who can have their groceries ready for pick up upon their arrival/return to conveniently take home with them regardless of the time of day.
All of this was developed for Kai Schmidhuber of Frankfurt Airport courtesy of Kian Gould and the team at AOE, along with Magento, representing just one more example of how omni-channel continues to transform how we’ll all shop in the future!
Let’s now re-imagine all of the ordinary in a digital lens to see where space and dead time can be leveraged; the waiting room, concert venues, commuter trains/stations, sports stadiums, the gas station and even the shopping mall are all places ripe for re-invention.
Time to digitally rethink the ordinary to discover and create the truly exceptional.
Future of Retail as an Omni-Channel ‘Internet of Things’ | Jeff Ashcroft | LinkedIn
This is not just an idle suggestion we’re making, as the omni-channel retail buzz is quickly becoming a roar and with good reason.
Not since the advent of price tags, cash registers and the ubiquitous apparel hanger has there been a retail industry innovation poised to create such major change.
Those in the know in online retail have been leveraging dropship vendors to create expanded ‘endless aisle’ assortments for a number of years now.
Through the ongoing development of the Matrix Retail approach it’s now become apparent a new reality is emerging best described simply as the ‘Endless Store.’
Just as an ‘endless aisle’ expands assortments well beyond the current store and retailer stocked web assortments, creating the ‘Endless Store’ connects and extends the bricks & mortar and virtual environments within which retailers operate. The potential for dramatically improved customer service and functional development of a unified retail customer experience is now within reach of every retailer.
For the past several years social media has been a buzzword swamp with marketers chasing one shiny object after another like dogs chasing their tails. Social Listening, Advocacy, Content Marketing, Engagement and Social Marketing to name but a few.
More recently joining the CMO in the chase have been other c-suite executives lured by the promise of a brave new world empowered by social business and collaboration. Or maybe it’s just their fear of losing control and being left behind.
Over the past year, like many others working within the Retail Industry in Canada, I’ve grown tired of hearing about all the bad news relative to retailers pulling out, closing down or shrinking their store counts here in Canada.
Other than one major ‘faux pas’ by a discount retailer which doesn’t need to be named yet again, the majority of recent store closures have actually been retailers dealing with unprofitable stores in their chain. And although painful for the individuals and areas where these actions happen, these steps are often necessary to keep the overall chain healthy in the long term.
The great news, and what we should be focusing on instead of the ‘doom and gloom’ of negative reports, is the growing number of new retail entries into Canada and the ongoing industry extensions taking place over the last year.
This is not just an idle suggestion we’re making as the omni-channel retail buzz is quickly becoming a roar and with good reason.
Since the 1990’s I’ve been writing about sustainability, cap & trade and carbon footprints mainly in the realm of logistics and supply chain as that’s where I live.
Supply chains are incredibly important in this context as roughly 75% of most company’s carbon footprint emanates from their supply chain.
My mantra throughout this time has been ‘when not if’ these measures will be enacted and today I have to say we’re rapidly approaching the tipping point for supply chain sustainability.
The age of Matrix Retail is already upon us and the only question to ask is will you acknowledge, understand, embrace, engage and tune all of the components of your company’s presence in the retail eco-system?
Or, will you choose to simply ignore them, continue in discrete multi-channel / abomni-channel mode and watch your competitors employ Matrix Retail methods to delight your customers, then dominate, devastate and ultimately destroy your business?
On a more positive note, we hope you opt for the former as the concept of Matrix Retail aims to help you bring about a state of zen awesomeness and retail customer joy as your business prepares to accelerate and break the e-commerce sound barrier.
Depicting something as pervasive and all encompassing as today’s real world digitally enabled retail environment is a tall order (especially for a graphically challenged logistics dude) but the above is my best representation to date of the eight layers of Matrix Retail which need to be enabled, interconnected and then tuned to fully deliver what I call ‘the logistics of customer experience‘.