Daily Dose of iQ: Future Retail Trends in the 'Information Age'

Dec 15, 2011 — Allan Pulga

Right now, everybody seems to be talking about virtual/online retail moving into physical stores.

Just yesterday, the Harvard Business Review published a blog post by the co-founders of Warby Parker, an online optical shop, which opened stores for four reasons:

  1. "Our customers wanted it."
  2. "It allows us to build close relationships with customers by meeting them, which you don't get from an online transaction."**
  3. "Showrooms act as laboratories, and help us to create ways to make shopping for glasses online easier bease on how we see people behaving physically in-person."
  4. "The stores are a great training opportunity for our staff. When they've served people in our showrooms, they do a better job helping customer who need assistance by phone or over e-mail."

**Last week, my colleague Alen Puaca wrote that (to compete with new platform/OEM/carrier driven stores) retailers need to "show they're offering more than just a competitive price. Show some character -- distinctive character -- and be part of the community. They should establish stronger relationships."

Speaking of building relationships with customers, FITCH Design published a video outlining 10 Future Trends in Retail (see below):

Among those 10 trends? "Small is good... local is better."

The other nine included: B2C to C2C (social commerce); new co-ops; what's it really worth?; price transparency (price checking apps); freetail; new experiences; editorial; from check out to check in (location-based services); macro to micro to macro.

Lastly, we also came across a really cool video from Matador Network and Intel, called "Just how fast is the information age moving?" (see below) and it obviously has a lot to say about the impact of social media and technology on our daily lives:

Highlights from this video:

  • Facebook has 800+ million users. They will hit 1 billion in July 2012.
  • Facebook generates over 700 billion pageviews a month.
  • 350 million users access Facebook on a mobile device.
  • As of June 2011, 550,000 new Android devices are activated every day.
  • Twitter signs up over 300,000 new users every day.
  • As of Oct. 2011, 250 million tweets are generated per day.
  • 2 billion YouTube clips are watched per day.
  • 35 hours of video are uploaded to YouTube every minute.
  • 107 trillion e-mails were sent in 2010.
  • 86% of mobile Internet users surf while watching TV.
  • By 2014, more people will access the web via phone or tablet than by laptop and desktop combined.

Topics: Retail Operations, Wireless Trends, Mobile Industry, Customer Experience, e-Commerce, Retail Marketing

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