DAY 3 of FOST: Why retailers and brands should leverage 'positive legacy' and use technology as an enabler.
It’s something that requires creativity, discipline and experimentation. His team found numerous insights via lean methodology: just adapting small things, doing iterative tests and this without any technology involved. It showed that cash is not always king, that nobody is waiting for another app to download and that simple changes in colour or format can have huge uplifts.
Seeing the bigger picture is important. At Google we learned that in 5 years there was a decrease in store visits of 60%, however there has been an uplift in sales of 17%! As we saw earlier during this week, it does not matter via which channel something is bought, it’s whether it’s sold or not. BestBuy equally used technology as an enabler by copying their Blueshirt approach (the in-store experience during which a BestBuy employee comes to help you) online. HomeDepot has a best in class app to make sure you find that hammer or nail in-store.
Google nailed this insight with saying: "We are not a software company but an advertising company. Anything we do to make our users’ life and experience with our products better, is helping us reaching our goal to share information more easily."
This was the last of 3 articles on what we experienced during the nexxworks Future of Shopping Tour in October 2017. Read Part I and Part II here. Find out more about our innovation programs - tours, bootcamps and our innovation platform nexxology - on www.nexxworks.com.