Omnichannel Is Revolutionizing Business
Is the consumer driving the world of retail mad? Today you can buy anything anywhere, anytime: online, in stores, or via smartphones. Retailers have to reshape their strategy because the revolution will be merciless for those who don’t adapt. For retail expert Robin Lewis, “50 percent of brands will die if they don’t adapt to this new ecosystem." One word is frightening retailers everywhere: Omnichannel. Through the examples of Sephora, France’s most digitized retailer; BNP Paribas and its 2.0 banking; and Lick, the world’s first network of “connected objects” stores, you’re going to discover why brick and mortar is still going to be important.
Picom and Retail Transformation (05:04)
Patrick Brunier defines the two kinds of distribution—selling in stores and distance selling, now e-commerce; these pathways are being integrated through new technology. While the internet was first seen as a threat to physical stores and jobs, the digital and physical elements of retail work together to create a better customer relationship and experience.
Digitizing Physical Stores (04:01)
Retail expert Robin Lewis argues that experiences in physical stores are improving, connecting with customers' minds to create a positive response. Stores are becoming more digitized, and often virtual elements enhance the actual experience. With many screens and other technology, the Burberry store in London is modeled after the company's website.
Lick Project and Customer Experience (07:10)
Stephane Bohbot developed a company centered on connected objects; physical stores are the primary way the company reaches customers. Coaches demonstrate products, educate customers on new products, and facilitate customer exploration. This environment promotes experience and the development of better products.
Changing Retail Posture at Saguez & Partners (04:06)
Olivier Saguez emphasizes the importance of a salesperson with integrity, who knows the brand and products. He advocates for a reorganization of the retail space for more efficiency and customer relations.
Customer Satisfaction at BNP Pariba (03:40)
The BNP experimental showroom is welcoming to customers, and interactive technology guides customers to their needs. Julie Lamertod explains how digital technology allows the company to be more proactive toward the customer, and exploit customer information to provide a specific product.
Sephora Customer Profiles (03:45)
At Sephora, a salesperson gets to know each customer through conversation and customer profile, which shows buying history, preferences, and a list of relevant products. Slovene Verotte explains that this creates a more positive customer interaction and experience. The concept is a company secret because, in the years to come, Omnichannel will be pivotal for competition and survival.
Credits: Omnichannel Is Revolutionizing Business (00:37)
Grade: 6-8, 9-12
Omnichannel Is Revolutionizing Business (DVD)
Time: 30 Minutes