Trick or Treat? What Consumers Really Want
I was honored and privileged to deliver the opening keynote presentation for Channel IQ’s annual Compass 2014 several weeks ago in Chicago. For those not familiar, Channel IQ services, securely stores and monitors authorized sellers as well as unauthorized sellers who can break the value and profit of manufacturers and retailers brands. They offer brand-smart deliverables across online price point (MAP) monitoring congressing and aggregating smartly through active and smart analytic dashboards.
The title of my presentation was “What Consumers Really Want!’ The gist and foundation of my time with hundreds of very savvy executive attendees was my simple statement: “that consumers are in absolute control through the dignity and muscle of savvy cloud prowess and will get what they want, when they want it, how they want it, at the price they desire, always.” That we are all advancing through profound retail structural and publishing commerce shifts from physical to digital simultaneously disrupting all we have previously built, all we knew once worked perfectly in our brick-retail past. That digital disruption causes, for a multitude of retailers, profit destruction. And for sluggish or digital-sleepy retailers, perhaps unstoppable profit-corruption.
The relevancy of my presentation under the ribs of Compass 2014's core mission was to amplify the greater need for B2B retail technologies and focus to be designed, developed and administered from a consumer world view, not from the hallway viewpoints of business or retail America. I heavily and emphatically suggested that retailers need to treat physical stores as local in-market community hubs, not as they perform today as corporate “unconnected-to-local-consumers” brick nodes. And that the industry-anointed title “Omni-retailing" is actually non-functional and unrealistic to the real needs, expectations and demands of consumers.
As example, if a consumer lives let’s say two blocks or even a mile away from a physical retailer, it is the local store that needs to connect with that consumer inside their local community: not the retailers web site thousands of miles away. Human capital, perhaps the heaviest and most expensive cost within a local store’s SG&A, needs to outmuscle, outperform cloud retailers, cloud machines hundreds or perhaps thousands of miles away.