At Sapient Nitro’s Revolution of In-Store Digital Retail, it was highlighted that consumers want to be part of the story through interactive content rather than just being told a story via pushed content. It’s about creating a world where the brand is active in conversations, weaving brands into the consumer story rather than just talking at them.
A few key retail trends to take note of:
– New shopping behaviour: shopping in increments – people are taking a longer time on mobile to make purchases.
– Diminished/changing role for the store – 52% of Canadians report shopping online more than three years ago, amid more options than ever.
– Experience in digital and physical has irreversibly collapsed into one – interactive displays in-store are becoming the new norm i.e. SportChek’s flagship store on Yonge Street.
It’s a great time to be a consumer because brands are starting to react to and respond in real-time to what’s important to you right here and right now. In the third talk of the day, Jerry Wind, Professor of Marketing at Wharton, explained in the Future of Advertising session that brands have to move from talking at consumers to engaging them every second of every day when it matters most to them. “In the future, advertising will be tasked with planting the seeds of desire, expectations, aspirations that intrigue and pull the consumer along the path to thinking that it was his or her idea,” Wind quoted Lori Billey from RED the Agency. Brands are looking forward, paying attention and being more agile. Consumers are becoming more empowered with their spending choices and brands are becoming more useful as a result – mindsets need to morph with this evolution.
At the MDC Partners panel, the power of invention was the key theme. Invention is a powerful thing; it powers client excitement, delivers exponential returns and drives a culture of big ideas and big actions. The panel explained the value of employers enabling invention and fostering an entrepreneurial spirit in their organizations. Invention means taking risks and, a common theme across Wind’s talk as well, invention and prioritizing adaptive experimentation fosters an environment where it’s okay if you fail. Failure, in fact, is an important lesson in getting to bigger ideas.
#LYNL | (Live Your Notable Life)
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