Diverse Customer: Convergence: Impulse-Buying, Unconscious Consumption or Conscious Frugality? : Zara and Amazon
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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
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