What if you could replicate the physical in-store experience on the web? The concept sounds incredibly powerful. Retailers could connect product experts with key audiences to demonstrate and sell physical products, just like in-store.
In 1975, when I started what would become Rexall Sundown, the world was a very different place. Gerald Ford was in the White House, there was no social media and the TV universe was limited to three networks and a few local channels.
A recent Infosys Rethinking Retail Survey found that 86% of consumers who have experienced personalization technology while shopping have admitted that it has influenced their purchasing decisions. Moreover, 69% of consumers responded to the study stating that consistency of customer service across physical and online stores was of importance to them.
Pricing has long played a significant role in a retailer’s success, but with the industry continuing to undergo an omnichannel transformation the decisions retailers make about pricing will separate winners from losers.