Diverse Customer: Convergence: Impulse-Buying, Unconscious Consumption or Conscious Frugality? : Zara and Amazon
We look at the digital-physical
convergence as market forces disrupt both electronic
commerce and bricks-and-mortar stores. Commoditization
and contemporary technology as IoT, AI, Blockchain, Omni-Channel is impacting pricing
and commercial effectiveness. Organizations are finding themselves at digital
crossroads, at the intersection of the digital and physical and, are looking to
integrate these aspects for an added perspective to an enhanced customer
experience in digital, mobile, and asset-light environments.
Millennials, predominantly have been the early adopters of this convergence and are still eschewing in the weight of its implications. It'll be interesting to note how this convergence will play upon their psychology
as a Bloomberg study claims unhealthy impulse-buying and overspending will result from the sheer ease of purchase and
the abstract payment methods thrust upon the (hapless millennial?) customers, meaning retailers need to “get more out of every person that walks through
the door or in this case, the turnstile” | Bloomberg
Will the convergence usher in unconscious consumption or conscious frugality?
This week, in Seattle, Amazon opened its own convenience
store. It's the first of its kind: a truly cashless grocery experience in
which shoppers enter through gates that look like sleeker subway turnstiles,
take what they want from the shelves and exit the way they came. No carts, no
lines, no waiting | The Star Online
Spanish
fashion chain Zara has opened a concept store in London, where it
connects online and offline. Customers can still try out clothing in the store,
but purchases are entirely handled online. Interactive mirrors | Purchases
made before 14h in the 200 sqm pop-up store will be delivered at home on the same day. Customers will also not run into employees at the
cash register, because payments are entirely through Bluetooth, apps or a
self-scanning cash register. The fitting booths are filled with interactive
mirrors that make recommendations based on the clothing customers are trying on
at that time. | Retail Detail
Image and Inputs: Bloomberg, Retail
Detail, the Star Online
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