SINGAPORE - Many stores here remain focused on just selling products instead of embracing new retail concepts that stress giving shoppers more memorable experiences, according to professional services firm Ernst and Young. Mr Andrew Cosgrove, its global lead analyst for consumer products and retail, said firms need to offer more than simple transactions and should use artificial intelligence to personalise shopping. He spoke to The Straits Times on Wednesday (June 13) on the sidelines of The Consumer Goods Forum, where he talked about the consumer of the future. Mr Cosgrove said at the event at Marina Bay Sands that research suggests buying and shopping will become two vastly different activities. "Buying" will be the automatic and mundane purchase of necessary items such as groceries, while "shopping" will merge with entertainment to provide an immersive and enjoyable experience. Mr Cosgrove later told The Straits Times: "Retailers need to think much more about what … [Read more...] about Singapore retailers urged to make shopping experience more fun and innovative
Future retail trends
China DigestEconomics and Policy from China's Newspapers Retail outlet combines combines catering, fresh produce, imported goods and private labels, and is supported by WeChat Pay By Asia Times staff May 21, 2018 5:54 AM (UTC+8) Share Tweet Linkedin Print Email Share 0 Comment 0 French multinational hypermarket retailer Carrefour, which is partnered with Internet giant Tencent, launched its first smart store, “Le Marche” in Shanghai on Sunday, Yicai.com reported. It is Carrefour’s first “new retail” store in the world that combines catering, fresh produce, imported goods and private labels, and is supported by Tencent’s digital payment method WeChat Pay. Tang Jianian, CEO of the Carrefour China, told Yicai.com that Carrefour will expand the number of smart stores in the future, and will continue to cooperate with Tencent in seven major sectors including big data and new retail. Though Tang declined to further disclose specific figures … [Read more...] about Carrefour partners with Tencent to test the waters of smart retail
Controversy has followed as major retailers struggle to increase sales and market share, including by violating consumer’s lives in search of insight into their lifestyles. Kiatanantha Lounkaew, a lecturer at the Faculty of Economics, Thammasat University, said that the 4.0 era wave is sweeping through the retail business landscape in Thailand. He pointed to two recent notable examples – Big C’s experimental mobile retail truck and the takeover of tarad.com by TCC Group, a parent company of Thai Beverage (ThaiBev) and also owner of Big C Supercenter. “What underlies strategic moves of these two players is what I call “Walton 4.0”. While both of them seem to have different business moves, they possess the same strategic motive, which is what I call “Walton 4.0”. Sam Walton created Walmart based on three essential pillars. The first pillar is integrated logistics, which integrated small towns into one big market for Walmart. Such … [Read more...] about Retail’s future lies in Big Data about customers
PETALING JAYA: Malaysia's talent market in 2018 will be all about adapting to change with candidates urged to keep up with trends in their sector so they can actively develop the skills in demand and stay relevant in the employment market. This is just one of the top 10 talent trends for 2018, according to recruiting experts Hays. "Many sectors are being reshaped by technology creating new roles, but also different demands for those in existing jobs," said Tom Osborne, Regional Director of Hays Malaysia. "Marketing is a great example with the demand for digital expertise now greater than that of the traditional marketing function, but we are also seeing demand for professionals in financial services and many others expected to know how to harness digital tools to drive success for their organisation. "We strongly urge candidates at all levels of seniority not to fight the changing trends, but to instead show genuine curiosity about the changes taking place and show an active interest … [Read more...] about What are Malaysia’s Top 10 Talent Trends for 2018?
In a recent memo to employees, Starbucks‘ executive chairman and former CEO, Howard Schultz, highlighted a big opportunity created by the retail apocalypse. As demand shifts from stores to online, brick-and-mortar stores are closing at a rapid rate, creating an excess of vacant commercial real estate. According to Reuters, which reported on the memo, Schultz is expecting rental rates to drop and for Starbucks to be a big beneficiary of the downward trend. Starbucks is ready to cash in on the retail apocalypse. As demand shifts from stores to online, a wave of retailers has announced store closings across the US, leaving surplus amounts of vacant real estate in prime areas. Starbucks’ executive chairman, Howard Schultz, who stepped down as the coffee chain’s CEO last April to oversee its premium Roastery and Reserve projects, is ready to make the most of it. Schultz noted in a … [Read more...] about Starbucks’ former CEO says the retail real-estate crisis could be great news for the chain