From Brick And Mortar To ‘Click’ And Mortar.

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Cisco stated recently that only about 7% of businesses are prepared for IoE (the Internet of Everything) and by 2020 most will fall into two categories; “digital predator or digital prey.” The digitization of our lives is reshaping not just the world but also consumer behaviors, making the evolution to building digital assets and an omnichannel strategy an imperative, not a choice, when it comes to retail innovation and customer connection.

“According to eMarketer, more than 80 percent of shoppers who visit an ecommerce site do not know what they want to buy. Which means that in a $15 trillion global retail industry, there is a lot of opportunity.” —Fast Company

As this 2015 report from Forrester details; “At the heart of digital business is the need to rethink how to create value for customers. And to do that across the business, your company needs a compelling digital vision centered in customer value. But once you have your vision, what’s next? How do you know which levers to pull to create value?” There are many different strategies for engaging with consumers, but certainly understanding social networks, the value of small vs big data sets, how to vertically scale through not just digitizing onto an existing model but architecting new ones, are all requisites.

“Building engaging experiences across channels is incredibly important. Many retailers have spent their entire lives thinking about how to build an engaging experience in one channel, which is the store. But now, understanding how to connect with your core customers across every way they want to connect—not the way you want them to connect but the way they want to connect with you—is a different skill. Understanding how to engage in a world of exploding social networks, how to use search, how to use catalog, how to optimize, and how to engage—very different skills. I think that is going to become a core part of the playbook for retailers and merchants of all sizes around the world.” —Devin Wenig, president of eBay Marketplaces

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