The modern retail environment is a far cry from that of just a couple of decades ago. The rise of online shopping and social media, along with a growing desire amongst consumers to understand and be understood by brands and businesses, means that many of us now have multiple interactions with a retailer before visiting a physical store.
The Australian real estate market has undergone enormous technological change in the past 20 years. Whilst much of this has been driven by how customers prefer to consume information (think: online property search versus newspaper ads), agents are increasingly recognising the benefits new technology such as cloud services can provide these benefits, not just to marketing and customer relations, but also business systems and processes.
Today’s retailer faces a rate of change that is unprecedented. Franchises and independent stores vie for the business of increasingly tech savvy and time poor consumers. At the same time, storeowners and managers must stay abreast of local and international trends in order to compete in a global marketplace.
At no point in history has it become more important to understand the phrase, “stick to your knitting.” Although in a rapidly changing world, doing the same thing better won’t necessarily help. Consequently, what ‘knitting’ should you focus on and how might you source the necessary ‘knitting’ capabilities needed? In this editorial we’ll provide you […]
The life lesson goes something like this, “we can’t be experts in everything, so surround yourself with smart people and you will be on the path to success.” Customers are becoming more discerning not only wanting cheaper prices but also an experience that is emotionally satisfying.