What e-commerce should learn from retail
Customers are overloaded with information. To get their engaged attention becomes harder every day. This causes a great stress on e-commerce profits as price competition is fierce and marketing costs continue to increase. How can you turn this scarcity of customer attention into an opportunity?
Ger van den Buijs analyzed what characterizes the practices of successful retailers and what e-commerce should learn from this. Identity, passion and craftsmanship are key ingredients of their success. These factors also explain, to a large extend, the online success of Sligro Food Group. Sligro sells around 900 M euro online, at a sufficient net profit. Ger published the book “Forget reach, Start selling – What e-commerce should learn from retail” on how to implement this online.
What you will take away from this session is how to build a differentiating online retail experience. To do so, you will most likely need to take one step back, in order to slightly change your direction. Ger will first cover his cooperation model. This can be characterized as “stand amidst your customers”, and is the reversed of the “customer ambassadors strategy”.
The second topic is the “Economics of Craftsmanship”. You will learn why craftsmanship is such an important element to become profitable and how to implement it.
The third topic is the activation of customers during their orientation phase. It’s this phase that distinguishes successful retailers from less successful ones. You will learn how “trigger questions” and “augmented interaction” can drive customer flow. Augmented interaction is a specific implementation of artificial intelligence, in which computer power strengthens the team instead of replacing it.