Retail 4.0: From farm to fork in a digital world
Change, transformation or revolution. Whichever keyword best describes the change in the retail sector, speed is increasing and the time from one station to the next is decreasing.
The "digital mom-and-pop store" is part of the food for thought that Tudor Andronic, Vice President Global Retail at Bizerba, introduced into the current discussion about the Retail 4.0 theme.
For him, it’s the logical response to the demand of today’s consumers who are connected and are looking for a personalized buying experience across all channels.
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The Transition From the Mom-And-Pop Store to Retail 4.0
The Mom-And-Pop Store
The mobile marketplace is turning into a stationary retail store. Quite often, store owners themselves serve their customers at the counter and the checkout. The offer is limited, but sufficient for meeting the daily needs. First, shopping is a personal experience.
The self-service idea is born. In modern supermarkets, customers pick their goods themselves from food racks and cooling counters. The offer and the retail space have been expanded. Control and transparency of data concerning products and portfolio are becoming more important, while the shopping experience becomes increasingly anonymous.
The supermarket turns into a hypermarket, giving rise to large retail chains with retail areas of more than 5,000 sq m. Huge product portfolios are accompanied by increasingly complex processes, and success increasingly depends on efficiency. IT structures emerge, and the internet picks up speed.
IT and the internet merge, and online commerce is born. The innovation of virtual shopping meets the customers’ demand for fast satisfaction of demand - independent of time and space. Goods and information are becoming available on a global scale, accompanied by the need to know more about the customers’ profiles.
Digitization finds its way into the entire retail value chain, changing roles, business models and sales channels. Omni-channel is the keyword now, centering around providing information and products across all channels and the satisfaction of the customers’ new demand for individuality.