Yesterday marked Amazon’s 20th anniversary. SONELIA DU PREEZ, Country Marketing Manager at EMC Southern Africa reflects on how far the industry has come over the past two decades.
Yesterday Amazon celebrated its 20th anniversary. As well as being yet another indicator of how quickly time passes, the anniversary provides an opportunity to reflect on how far the retail industry has come over the past two decades and how far it can still travel.
Amazon’s success has to a large extent been born of data. It has, for example, used customer data not only to make the retail experience simpler, but also to personalise it. The idea that an online shop would recommend new purchases based on past choices was truly revolutionary and an early indicator of the promise of big data analytics.
Over the next 20 years online shopping is going to evolve further and will eventually completely overwhelm the retail space – to the extent that the traditional bricks and mortar based retailer will have to innovate significantly to remain relevant.
Technology will strengthen customer experience
Indeed, it is possible that many shops will become little more than showrooms for products that can only be bought online. Consumers will also leverage data more – to identify where they can obtain goods at the lowest price with the best customer experience. The most successful retailers meanwhile will continue to use technology as an enabler to strengthen and deepen relationships with customers. Customer loyalty will be achieved (both in terms of attraction and retention) by improving the customer experience. Technology will be the key enabler here to ensure that customers will be provided with the best and same customer experience through every touch point.
The impact of data analytics on the online world will continue to be huge. Today online retailers can, if we ask them to, remind us of birthdays and anniversaries. In the future, not only will we be reminded of imminent birthdays but predicative analytics will be able to choose the perfect gift and even write the card for us. No more missed celebrations, and no more gifts destined for the bin.
Making mobile work harder
If the future of retail is predictive, it is also mobile. All online businesses will in the future be built from the mobile device up. Improvements in smartphone software will mean that the ‘Siri’ of the future will be even more impressive. Drawing on vast data lakes, our digital avatars will become shopping assistants, recommending new retail experiences based on our individual tastes and habits. Consumers will be able to set these retail avatars according to taste. Some consumers will abdicate responsibility for all shopping tasks to these digital assistants, safe in the knowledge that the choices the technology makes on their behalf will be as good or better than the ones they would make for themselves.
Interestingly, this digital shift will also see a decline in impulse buying. Big data, mobilisation and social media combine to mean that find exactly what we want, when we want and where it is cheapest. The days of browsing through stores and stumbling across goods may well be coming to an end, a trend that will impact on the ways in which brands market their products in the field.
Delivering to the customers’ needs
Finally, there is every reason to believe that the way in which goods are delivered is set to change. Social network delivery services are going to disrupt the industry, allowing users to order delivery-on-demand. This will impact the way in which users can receive deliveries. For example, it will be possible for shoppers to have drivers wait while they try on the clothes they have ordered, and then return unwanted goods by the same courier. The whole experience will be much more focused on meeting the customer’s needs rather than those of the delivery company or retailer.
The possibilities digital transformation promises retailers and customers alike are endless, and over the next twenty years the options made available to consumers will increase exponentially. New Amazons will emerge with business models that we can scarcely imagine today. One thing is for certain however – it’s going to be a very interesting couple of decades.
Welcome to world of 2099
The world of 2099 will be unrecognisable from the world of today, but it can be predicted, says one visionary. ARTHUR GOLDSTUCK met him in Singapore.
Futuristic structures tower over the landscape. Giant, alien-looking trees light up with dazzling colours amid the hundreds of plant species that grow up their trunks. Cosmetic stores sell their wares via public touch-screens, with products delivered instantly in drawers below the screens.
This is not a vision of the future. It is a sample of Singapore today. But it is also an inkling of the world we may all experience in the future.
Singapore was the venue, last week, of the World Cities Summit, where engineers, politicians, investors and visionaries rubbed shoulders as they talked about the strategies and policies that would enhance urban living in the future.
As part of the Summit, global payment technologies leader Mastercard hosted a small media briefing by one of Singapore’s leading thinkers about the future, Dr Damian Tan, managing director of Vickers Venture Partners. The company’s slogan “We invest in the extraordinary,” offers a small clue to Tan’s perspective.
“We look as far forward as 2099 because, as a venture capital firm, we invest in the long term,” he tells a group of journalists from Africa and the Middle East. “Companies explode in growth because there is value in the future. If there is no growth, they won’t explode.”
The big question that the Smart Cities Summit and Mastercard are trying to help answer is, what will cities look like in the year 2099? Tan can’t give an exact answer, but he offers a framework that helps one approach the question.
“If you want to look at 81 years into the future, and understand the change that will come, you need to double that amount and look into the past. That takes us to 1856. The difference between then and now is the difference you can expect between now and 2099.”
Click here or on the page link below to read on: Page 2: Soldiers and Health in 2099.
- Arthur Goldstuck is founder of World Wide Worx and editor-in-chief of Gadget.co.za. Follow him on Twitter on @art2gee and on YouTube
Street art goes electric
Kaspersky Lab and British street artist D*Face have unveiled the first-ever “art helmet” design at the Formula E finale for electric cars in New York.
The ‘Save The World’ helmets will be raced by DS Virgin Racing’s drivers, Sam Bird and Alex Lynn, as they traverse the New York street circuit during the final races of the Formula E season.
The announcement signals the first art helmet by a Formula E team, continuing the heritage of art in motorsport and the cybersecurity brand’s commitment to contemporary art, creativity and innovation. D*Face took inspiration from Kaspersky Lab’s tagline, “A Company To Save The World”, and hopes that his colourful work will inspire people to take positive action.
D*Face will announce his first-ever art car design with a custom-made livery for the DS Virgin Racing Team. Its design will be released at the “Art Goes Green” event after Saturday’s race. The helmets and art car are the latest installations in the “Save the World” collection, following a major permanent public mural that was installed in Brooklyn, New York, in May.
D*Face, whose real name is Dean Stockton, said: “It is exciting to work with Kaspersky Lab on this project and create art with a real message of hope for a better future. After all, this is our world and we need to look after it. It will take every one of us to make a real lasting, impactful change. I love the mentality of the DS Virgin Racing Team and that of Formula E by showcasing sport in a way that doesn’t harm the environment, but is still just as exhilarating and fun.
“It is time for us all to stand together and make a change… be that stopping data steals, climate change, plastic waste or using damaging fuels. I want everyone to make a pledge to do one thing that will help make a change.”
As a sponsor of DS Virgin Racing Team, Kaspersky Lab is responsible for protecting the team’s devices against cyber threats. The company sees the technical environment in the global sport of Formula E as the next frontier in furthering its research and development of new technologies to keep vehicles secure in the digital world.
Sylvain Filippi, Managing Director at DS Virgin Racing, said: “The whole team fully supports this great initiative and our thanks got to Kaspersky and D*Face for their collaboration. It’s an honour to have such an innovative artist bring his talents to bear in our team ahead of the season-finale; the car, drivers’ crash helmets and mural all look amazing.”
Aldo Fucelli Pessot del Bo, Head of Global Partnerships and Sponsorships at Kaspersky Lab added: “There is a need for innovation on a global scale, both in contemporary art and in the fast-growing sport of Formula E. Now, for the first time ever, Kaspersky Lab is proudly bringing together the two sectors in an effort to Save the World and unleash creativity, encourage freedom of expression and further innovation.”