Merchandising and Retail: The future is not what it used to be

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This is a program delivered on 8 November 2011 to a team of merchandisers of a large international retailer, on future trends and in particular on the changing nature of the retail customer transaction. By Glen Hiemstra, Founder of Futurist.com and Curator of DoTheFuture.com

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Merchandising and Retail: The future is not what it used to be

  1. 1. What is your image of the future?
  2. 2. 5-10 Year Retail ETDʼs• Continued integration of online and physical experience, declining dominance of physical• Continued rise of peer-to-peer commerce• Intelligence built into products and processes• Expectations for environmental and social responsibility - especially of companies whose products seem related to these values• Growth in local and village centers• Mobile access becomes critical• Brand democratization• Convergence of company, employees, brand
  3. 3. The future creates the present…
  4. 4. Aging populationand DIFM
  5. 5. Not a Mystery •Economic Struggle •Old, Young •Tech Acceleration •Environment & Lifestyle •New Retail Realities
  6. 6. AORTA Technology RulesFrom WEB To STREAM
  7. 7. Global  Weirding
  8. 8. Environment& Life Styles
  9. 9. Data is the new oil...Based  on:  Gerd  Leonhard Image  credit  SuperAlloys.com
  10. 10. New Retail Realities
  11. 11. People of the screen will not accept old limitations...Based  on:  Gerd  Leonhard
  12. 12. Business of the future is aboutmaking the experience fluid... Based  on:  Gerd  Leonhard
  13. 13. Reality:People BuyDifferently
  14. 14. the Delta Touch Faucet typical timelinePurchase Buy  Faucet Choose  RetailerConsider Choose  Make,  Model Read  Reviews Search  Online Aware See  adverts 1  Day 5  Days 10  Days 15  Days Based  on:  This  Fluid  World
  15. 15. the Delta Touch Faucet actual timeline?Purchase Buy  Faucet Talk  with  spouseConsider Check  Facebook  page  and website  of  retailer Read  comment  from  Facebook  friend  who Aware recommends  make,  model,  retailer 0  hours 1.5  hours 3  hours 6  hours Based  on:  This  Fluid  World
  16. 16. In a networked society interaction comes before transactionBased  on:  Gerd  Leonhard
  17. 17. Sylvania Facebook Masterful Makeover
  18. 18. A co-creation feedback loop enable people to create and share ideas with social media toolsupdate strategy acceptbased on alternate ideasinformation and commentslearned
  19. 19. Brand Democratization
  20. 20. Brands are builtand can be destroyedincreasingly outside our control Original  Source:    This  Fluid  World
  21. 21. Every internet device is apublishing toolOnce on the internet,information lasts foreverPublic access to informationincludes the customers,employees & the boss
  22. 22. ©iStockphoto .com/ozgurd onmazFrom Customersto Fanatics
  23. 23. Fanatics Can Make and Break Your Brand
  24. 24. 5 Strategic PrinciplesForesight improved by thinking long termStrategies need to be nimble, agile andnear termAllocate resources for involvementPrepare scenarios, monitoring systems, andresponse protocolsBe proactive, be brave, be human
  25. 25. The  future  is   something  we  doThe  future  is  not  something  that  just  happens  to  us
  26. 26. thank you for your timefor more information www.futurist.com glen@futurist.com www.twitter.com/glenhiemstra www.facebook/glenhiemstra

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