Retail 4.0: From farm to fork in a digital world
Change, transformation or revolution. Whichever keyword describes change in retail best: It is a fact that it keeps getting faster and the time interval between the stations smaller.
The "digital corner shop" is one of the causes for thought which Tudor Andronic, Vice President Global Retail at Bizerba, gives for the current Retail 4.0 discussion. To him, this is the logic consequence to the needs of today's consumer type: The consumer is networked and expects a personal shopping experience across all channels.
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From corner shop to Retail 4.0
The mobile marketplace becomes a stationary retail store. Often it is the store owner himself serving customers behind the sales counter and at the cash register. The product range is small but sufficient for daily needs. Here, selling is one thing in particular: personal.
The idea of self-service is born. In a modern supermarket the customer takes the product from food shelves and refrigerated counters himself. Product range and retail space increase. Control and transparency about product and assortment data become increasingly important. The act of purchasing becomes more and more anonymous.
The supermarket becomes a hypermarket. Large retail chains with a retail space of more than 5.000 m2 are built. The offered product range is enormous. Processes become more and more complex and efficiency increasingly becomes key to success. IT structures come into existence and the Internet accelerates.
IT and Internet blend, the online trade is born. The innovation of virtual shopping meets the customer wish for fast satisfaction of demand irrespective of time and space. The global availability of merchandise and information begins. And with it the necessity to learn more about the customer profile.
Digitization enters the entire value added chain of retail. Roles, business models and sales channels change. Omni-channel is the keyword now: Now it is all about providing information and products across all channels. And to meet the needs of a new customer: Individuality.