Image courtesy of Situ Live
In today’s InternetRetailing newsletter, we present very different visions for the future of retail.
Situ Live sees a “house of discovery” where shoppers can touch, smell and try on branded products before purchasing from a retailer of their choice. It’s about brand awareness rather than instant sales. The first Situ Live site opened this week, and more sites are planned for next year.
At the RetailX Nexus event held this week, senior retailers – many of whom are returning to face-to-face events for the first time since Covid-19 – focused on what needs to change in the industry, and why and how, in conversations around issues of sustainability and diversity, equity and inclusion, to the retail experience.
At N Brown Group, the strategy now is to focus on the profitability of its strategic brands rather than discount-driven sales – a strategy that appears to be working, as the retailer has reported stable sales but doubling its profits over the years. first semester. Increasing brand awareness is, once again, the key to increasing results – while sustainability, including sourcing 50% of cotton from the Better Cotton Initiative, is also a priority.
Levi’s is seeing its sales grow online, whether through its own digital channels or those of its wholesale customers. More and more buyers are buying directly from the brand at the same time.
Boden says he is investing in improving his customer experience as he recovers from the effects of Covid-19 on his business. He envisions a customer-centric business that will be both more sustainable and more agile online.
Commercial credit insurer Euler Hermes, meanwhile, warns that going online could be costly for grocers. It is suggested that the way forward is to invest in ensuring that delivery is as profitable for online sales as it is for physical retail.
In today’s guest commentary, SMP’s Peter Martin considers the potential challengers of the leading Amazon marketplace.