A holistic approach to retail
From Paul’s perspective, a holistic approach means the coming together of delivery, finance and technology within the retail space. New retail is a fruitful alliance between all facets – online and offline – and all parties involved in the process of selling.
“A large part of our member base is retailer, but a large part of our member base is also enablers of retail,” explains Paul. “Think of supply chains, payment, technology, professional services."
A holistic approach looks to marry together these retailers and enablers, maximising opportunities and profits.
“The lines are certainly being blurred right across the functionalities, and also across the various channels. This is very much a very broad and very exciting eco system.”
From physical to digital and back again
The future of selling online, predicts Paul, includes returning to and optimising physical space as well. “Retailers that are embracing technology in their businesses – following the customer who is not shy of embracing technology – they’re starting to prosper,” says Paul
“What’s also exciting is that convergence between physical and digital. Those smaller retailers with stores or shops that have felt encumbered are realising, as the old saying goes, that bricks are the new black.
“There’s nothing wrong with having a multi-touch point relationship with your customers; in fact it’s the way the world is moving. It’s optimising that store utilisation, and then more specifically using location-based technology to understand your customer as they traverse between your physical and digital channels.”
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