We’re at a tipping point in retail history. Businesses in nearly every sector have accelerated their digital transformation to adjust to the “new normal” and meet growing demand for online shopping. Latest figures show that over 85,000 businesses in the UK moved online during the pandemic alone. But, merely existing online doesn’t automatically lead to success
In a world where you never see your customer face-to-face, there are numerous hurdles to clear. So, in order for online retailers to thrive in this new world, up against fierce competition and other external forces dictating the global economy, the pressure to up their game is on.
How do online retailers go about emulating the quality of service and goods that people get in-store while providing a seamless experience from cart to door?
When it comes to spending our hard-earned cash, consumers want to know that they’re getting what they paid for without the frustration and stress of something going wrong. The good news is that most common e-commerce failures, such as poor address verification or late deliveries, are avoidable. Retailers who take a proactive approach to delivering the very best experience online don’t need to be worried, but retailers employing a ‘wait and see’ approach might find that customers have jumped ship and, worse, that they have no intention of coming back. The future of retail lies in Omnichannel, Metaverse, live commerce, Q-commerce and driving efficiency through automation and Robotics.
The event served as a platform for the startups to pitch their ideas and form important fundraising, product, distribution, and other partnerships with retailers, brands, tech companies, investors, media, and more.
Some interesting startup pitches that we attended:
We were keen to meet and greet technology partners who are relevant and would add value to our existing customers in the form of their offerings. We also got the opportunity to meet and understand more about larger enterprise ecommerce frameworks like Commercetools, which is in the news for all the right reasons; HCL Commerce, Spryker, etc. This gave us an insight into the various enterprise-level features that these frameworks could offer in the digital transformation process.
As the world moves more towards an API-driven approach, these tidbits were of extreme use in formulating our strategy to stay ahead of the curve.
The keynote speakers were of particular interest, and some very high-quality content was discussed by them on stage. Anya Hindmarch was one of the standout performers, an English fashion accessories designer who founded an eponymous company. She was gracious enough to share a copy of her book, “If in doubt, wash your hair.”
We also got the opportunity to meet and greet some of the keynote speakers post presentation.
Well, we believe the 3-day event was informative and left us better than we were at the beginning. We look forward to the next edition.