In many ways, we’re about change at nChannel. We want to help the companies who want to change–who want to be better–to do so. Sometimes change is about people. Sometimes it’s about process. And, in this new digital world, it’s about technology too. This week I want to share a few articles about change. They dive into what retailers aren’t doing today and what they need to tomorrow. I hope you enjoy!
Most Engaging Retailer in America
It’s a big bite to chew, but it’s the right vision to have. Kohl’s has spent over $1 billion on technology to transform themselves into the “most engaging retailer in America”. (And, they plan to continue the pace.)
This article dives into the technology, process, and people challenges they must deal with. It also gets into why they made this decision.
Chances are that you don’t have a $1 billion to spend on technology. But, you can provide an incredible customer experience with the right vision and a lot less money.
Future of Retail
Doug Stephen’s writes, in this somewhat controversial op-ed, that “the entire economic model of revenue and profitability for retailers and the suppliers they do business with is collapsing under its own weight”. He discusses why the traditional retail store business model is failing and will continue to.
But, what’s most intriguing about the article is his solution: the concept of the “store as media”. It’s a different take on how you use your brick-and-mortar store to provide customer experiences, and it’s proving successful for some pioneering brands.
What will your company look like in 10 years?
Customer Experience Strategy
This article dives into what executives see are the top priorities for their customer experience strategy. “Data integration” is pretty far down the list, and the author, Linda Bustos, thinks that’s a problem. (I agree.)
You cannot create amazing multichannel customer experiences without data integration. It’s not just a customer touchpoint challenge. There’s a lot that must happen behind the scenes be the foundation for that customer interaction. I’m glad to see someone else harping on this message.