Technology has changed the way retail is presented to its customers, so what do brands need to do to keep their customers happy?
The changing retail landscape
The ubiquity of mobile technology has been a long time coming.
Singapore’s food and beverage market is currently estimated at US$108 million1, with major beverage companies expanding their product portfolios to cater to the growing popularity of fruit juices, ready-to-drink teas, energy drinks and beer.
As Singapore continues to embrace the mobile-centric economy, the way consumers interact with retailers is rapidly changing from traditionally shopping at storefronts, to e-commerce, and now to New Retail - retail experience brought alive by the integration of offline, online, logistics, and data across a single value chain.
With the Great Singapore Sale in full swing, and an e-commerce industry projected to reach SGD4.4 billion this year, retailers and e-tailers around town are battling it out to capture those shopping dollars.
There are two ways to predict the future: the first one is to turn to the experts and trust their wisdom; the second is to look at the gap between what people expect and what they’re able to do, and see in it the shape of things to come.