Cloud Talk: The Future of Retail
In the second volume of Cloud Talk, Gen.T honourees discussed what’s in store for the retail industry.
Covid-19 is disrupting just about every sector in the world, but few more than retail. What’s more, these sudden enforced changes in consumer habits could have longer-term consequences, accelerating the decline of the bricks-and-mortar retail long after the virus is behind us. Put another way: how will months of online shopping change our appetite for the offline experience?
Gen.T honouree Emmy Teo and her sister Faith, co-founders of retail consultancy 8XP, tackled these tough questions and more in this Cloud Talk, which was hosted on WeChat. 8XP puts data to work to help retail brands operate more efficiently, and has worked with clients including WeWork, Fosun International and W Hotels.
During the session, honourees asked questions on how they can create experiences to improve the retail experience their business offers. What was apparent throughout the discussions was the impotence of data in order to merge offline and online data points—"omni-channel retail"—to create a holistic profile of shoppers. With an improved customer-centric view, brands can tailor their retail experience around the consumer to better serve products, increase engagement and create brand loyalty.
Cloud Talk is a virtual event series where we discuss blue-sky ideas that matter. Cloud Talk takes place every week, alternating between Chinese- and English-language editions. Subscribe to attend the next edition.