January 20, 2012
The retail industry has undeniably suffered from the global economic crisis—but a recent renaissance is seeing clever retailers use innovative technology to find and keep their customers.
FACT: Retail giant Wal-mart is investing big in social media, spending $300 million on the @Walmartlabs development. (i)
FACT: In a recent survey of holiday shoppers, Deloitte found that 21% of consumers said they would buy something for Christmas from their smartphones. (ii)
FACT: The latest Social Media Benchmark report from eDigitalResearch found that 2.6 million new followers joined the Facebook sites of top retailers in the last six months. (iii)
2011 is over and done with—what’s in store for retail real estate in 2012?
For our special New Year’s edition of MORE Vision, we’re looking at the retail renaissance that’s anticipated for 2012 and beyond.
In the past 10 years, physical retail has come under attack from e-commerce, with many predicting the downfall of the traditional retail model. But as e-commerce matures and multi-channel retail gains strength, the industry is experiencing a convergence of physical and virtual shopping experiences.
Some of the world’s sharpest retailers are defying doom and gloom scenarios, as they realise that shopping in the real world will forever satisfy consumers’ deep-rooted need for human contact and instant gratification. But there is also a flurry of new formats, technologies, capabilities, and products that now are delighting consumers around the world.
We’ve talked to three experts who shared their views with MORE Vision in exclusive interviews.
MORE Vision: giving you visibility
Reed MIDEM’s detailed MORE Vision report explores the retail renaissance and asks top industry players how to turn online opportunities into physical reality.
Barbara Tusk, CEO, Crate & Barrel
Richard Akers, Managing Director, Retail, Land Securities
Each of these experts offers a unique insight and practical advice on how to use social media to draw consumers in and keep them coming back.
This month, MORE Vision also includes insight from 10 top industry professionals on the seven major trends to watch out for in 2012. You can also read the full articles.
Still to come: every week throughout January and February, we’ll be taking the trends touched on in this report and exploring them more fully!
Watch this space for the next MORE Vision!
Every two months, MORE Vision by MAPIC will contribute to the retail real estate community’s knowledge base by exploring a key trend influencing retail property strategy today. Each issue of this multichannel and multi-tool service will include a presentation of a trend, with history, key figures and useful links, along with exclusive interviews with top industry players. The briefing is offered as a printable document for you to use, customise and share with colleagues. Questions raised will be opened up for debate on our social media platforms – the best comments and discussions will be summarised and published here on the MIPIMWorld blog.
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ii) USA Today