Product offerings are being developed in new channels and contexts
If in the past retail was about making a transaction - about buying merchandise in a store - these days it is more about feelings, entertainment and interactions. Technology and data are used to draw learnings from customer behaviours, making it possible to provide them with services and products that are as personalised as possible. The traditional retail environment is giving way to new contexts, and value is being created for consumers at moments that did not exist before.
A few examples of companies that have moved their business into new contexts include General Motors, Lufthansa/Rewe, Volition and Castorama.
General Motors’ Marketplace has made things simpler for its customers by making it possible to book products, make dinner reservations and reserve parking spaces directly through a touchscreen interface in the car. By using real-time data on where the vehicle and driver are, GM is also able to offer personalised experiences.
Another example is how Lufthansa, working with Rewe, has streamlined and made it easier for customers to order products in-flight for home delivery.
Magic Wallpaper by Castorama is an interactive wallpaper that narrates different fairytales when you place the associated app in front of a character appearing on the wallpaper. By mixing and matching characters, users can hear hundreds of unique fairy tales.