Changing customer needs, new market and technology trends as well as aggressive competitors present major challenges to retail companies. Competition in the retail industry takes place nowadays across all channels and doesn’t change just the purchasing behaviour of customers but also traditional business models in this sector. Suppliers from previously only digitally available offers are now entering the shopping malls of worldwide metropolises with innovative sales and service concepts.
The growing popularity of digital channels with customers does not inevitably mean the extinction of the stationary trade: The search for experience, pleasure and entertainment are still of high relevance for the customer – but not without an integration of the digital world tailored to their needs. An increasing number of retail companies see themselves confronted with the following questions:
- Through which sales- and communication channels can tomorrow’s target be reached?
- How can we achieve a differentiated positioning in the market?
- In which way can the product- and assortment range be adapted to changing customer needs?
- How can the stationary trade be reasonably complemented with new digital product offers?
- How can we use more specific customer data to improve our marketing performance?
- In which way can we strengthen our position against competitors – and how can we involve them effectively into our sales activities?