A panel of leading retail industry specialists told the Gibs Retail and Consumer Insights Conference that while tech advances like machine learning to leverage data on consumer behaviour, autonomous check out and mobile point of sale all had a place in local retail, appealing to customers who are increasingly sophisticated and connected requires a back to basics approach.“The retail landscape is complex and you have to take into account the state of the shopper and their reason for a purchase.
“Retailers have to be nimble and able to adjust and take market share, as this is their only likely source of growth in the short term,” he said. Country manager for Cotton On Africa, Natalie Wills,reiterated this: “We have to keep the absolute primary focus on the ever-evolving customer.” Artz explained that Cotton On was investing heavily in digital learning and staff training: “The truth is our store teams are not ready to face the future. We have to go out and prepare our humans.”
Andrew Smith, co-founder and chief executive of pioneering South African online retailer Yuppiechef, explained that price, range and service are the three differentiators in online retail. Retailers must think creatively in order to use online as an asset to serve customer needs, wherever they choose to buy, and to grow their business
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