Lessons Learned at FutureVision
Technology is on its way to permeating retail stores in ways that include interactive signage, dynamic advertising, mobile payment systems, beacons and traffic sensors, making for a totally different buying experience. "All these technologies need to be tied into one another seamlessly," Li said, and smart devices need to be leveraged to help create desired loyalty and extended customer relationships.
Developing customer trust as it relates to social technology is another topic Li addressed. "Trust is so fungible," she reflected, "and so hard to define." She noted that Apple's policy is to discard collected data right away, while Twitter keeps users' data 180 days, Facebook keeps it 90 days and "Google keeps your data forever." Li asked for a show of hands in the audience relating to Facebook and Twitter, and the result revealed that while only a few audience members said they "trusted" Facebook
Li said that once permission is given to allow a retailer to create a personal relationship with a customer, "you have to then build trust," because "almost no one goes from dating to marriage immediately."