Christian Koestler is president and CEO of Lixto, Inc., a global leader in Web data extraction and analysis for the hotel, retail and consumer products industries. He also serves as managing director for sales and marketing at Lixto Software GmbH, the company’s headquarters, in Vienna.
Consumers today are smarter and savvier than ever. Over the past decade, the continually growing use of the Internet has made it easier and faster to comparison shop. During the “Great Recession,” shoppers learned to lean even more heavily on the Web to do research and find good deals. Now, as the economy recovers, these sharp consumers are not about to go back to their old ways. In addition, future technology advances will only make it easier for consumers to comparison shop. So what’s a retailer to do?