We believe the industry is looking at the future of retail success upside down. From our viewpoint, retail success is not about islands of tech innovation, connected commerce, or AI at the core. It’s bigger than that.
It’s really about embracing the tough realities of today’s post-pandemic retail world. Everybody’s gone digital, labor shortage is here to stay, there is ecommerce disruption, an explosion of payment and delivery choices, margins are shrinking, every shopper is unique, there is a consolidation of brands and stores, a tough macro economy, wallet size is shrinking, loyalty is fleeting and customer expectations are escalating.
In this environment, experience rises to the top. In 2023 and for the next decade, the retail industry winners will own the experience to gain unfair advantage through superior experiences for consumers and associates.
Winning requires a strategic shift to a new experience operating model that:
- Captures hearts and wallets with a distinctive journey that starts before entering the store, loyalty is re-earned with every experience
- Outpaces the market by operating at the speed of the consumer, with faster delivery and fulfillment
- Supercharges your people to engage, inspire, end burdensome tasks, boost service levels and associate happiness
- Realizes new economics that reshapes the innovation cost structure, shifts from CAPEX to OPEX
- Is built for change and is highly resistant to iterate, experiment, and recalibrate without breakage