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| Infographic illustrating the World of ME. |
With e-commerce becoming less profitable big brands are starting to rethink how they can get more out of the physical store, says Accenture.
"Big brands are starting to rethink the store, not as a point of sale but an experience with friends around the brand. If you have high exposure you can monetise later," Teo Correia, Senior MD, Accenture Consumer Goods & Services industry group, Accenture said. "An experience in the store is what you can't experience online."
Accenture had a showcase on retail called the World of ME, at the Millennial 20/20 Summit in Singapore which showed some of the innovative ways retailers can engage with customers, particular Millennials who will be 60% of the region's consumers by 2020.
Correia said that Millennial behaviour is similar in urban centres around the world, making it easy to replicate successful retail experiences.
He also noted that augmented reality and virtual reality are the technologies to watch. "When these take off they will change the experience for the consumer," he said. "It is all about technology reaching critical mass."
Gaming will be the perfect platform for VR, while learning will change as simulations will allow educators to depart from the theoretical. Using VR will also allow students to fail, then try again in quick succession. "The curve for learning will be different," he said.
Jill Standish, Senior MD, Accenture's Retail practice, explained that showcase is about how retailers can have people fall in love with the brand. Accenture's forte is in rapid experimentation on what works for personalising experiences and connecting one-to-one with customers, leveraging the scalability of digital technologies and the ability to analyse unstructured data as a way to understand behaviour.
"It is all about fast innovation and experimentation. If doesn't get results, why do it?" she said.
Some of the exhibits included:
New directions in sustainability
New ways to personalise customer experiences
New ways to connect buyers and sellers
Interested?
Read the TechTrade Asia blog posts about:
Highlights of the inaugural Millennial 20/20 Summit in Singapore
The winners of the Accenture Consumer Innovation Award, announced at the Millennial 20/20 Summit
Hashtag #M2020
posted from Bloggeroid
"Big brands are starting to rethink the store, not as a point of sale but an experience with friends around the brand. If you have high exposure you can monetise later," Teo Correia, Senior MD, Accenture Consumer Goods & Services industry group, Accenture said. "An experience in the store is what you can't experience online."
Accenture had a showcase on retail called the World of ME, at the Millennial 20/20 Summit in Singapore which showed some of the innovative ways retailers can engage with customers, particular Millennials who will be 60% of the region's consumers by 2020.
Correia said that Millennial behaviour is similar in urban centres around the world, making it easy to replicate successful retail experiences.
He also noted that augmented reality and virtual reality are the technologies to watch. "When these take off they will change the experience for the consumer," he said. "It is all about technology reaching critical mass."
Gaming will be the perfect platform for VR, while learning will change as simulations will allow educators to depart from the theoretical. Using VR will also allow students to fail, then try again in quick succession. "The curve for learning will be different," he said.
Jill Standish, Senior MD, Accenture's Retail practice, explained that showcase is about how retailers can have people fall in love with the brand. Accenture's forte is in rapid experimentation on what works for personalising experiences and connecting one-to-one with customers, leveraging the scalability of digital technologies and the ability to analyse unstructured data as a way to understand behaviour.
"It is all about fast innovation and experimentation. If doesn't get results, why do it?" she said.
Some of the exhibits included:
New directions in sustainability
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| Sibberi taps tree sap and bottles it for sale. It began with birch water (subtly fragranced), and has branched out into maple water (slightly sweet), and bamboo water (reminiscent of strong tea). All three flavours are just as hydrating as coconut wataer but have four times less sugar. |
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| Orange Fiber is a startup that aims to create sustainable textiles from the byproducts of citrus juice. The fabric samples felt just like any other cloth. |
New ways to personalise customer experiences
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| "Try me", invites this display, which captures the faces of people who stand in front of it and then superimposes different makeup 'looks' onto the face. FACE is by Holition, a digital creative studio which has created 3D digital experiences for digital luxury brands. |
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| Like the look? Holition & Rimmel's Get the Look app will capture a consumer's face and digitally apply the same look onto his or her face. |
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| Moonraft's Vera provides clothing combination suggestions based on the latest fashion trends. The customer hangs an item of clothing onto hooks built above or below the display screens, and instantly gets suggestions on what to buy in accordance with trends that the customer prefers. Sensors built into clothes hangers allow Vera to recognise what item of clothing is physically placed in front of it. |
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Bodi.Me matches physical bodies to clothing measurements, so shoppers can buy the clothes that actually fit them best. The site accepts measurements, a webcam image, or a full 3D body scan.
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| Homebakee connects home-based bakers in Singapore with dessert lovers and event organisers. The startup has just expanded to New York in the US. The goodies on the tray include, from 12 o'clock: cupcakes with Milo, teh tarik and kopi o flavours; egg macarons and nasi lemak cookies. |
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| WonderLuk matches independent jewellery designers around the world with consumers who want 3D-printed jewellery. The pieces can be customised and made to order in a range of colours and materials. |
Interested?
Read the TechTrade Asia blog posts about:
Highlights of the inaugural Millennial 20/20 Summit in Singapore
The winners of the Accenture Consumer Innovation Award, announced at the Millennial 20/20 Summit
Hashtag #M2020
posted from Bloggeroid
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