The support of digital solutions has really posed as a critical starting point in the digitalization process of the retail industry and in the power shift between the buyers and the sellers. Catch up with the digital transformation trend in retail industry here.

Traditional retail model is "disgraced"

According to copen.vn experts, the traditional retail model no longer meets the requirements of consumers. In the new model, consumers become the true owners: they purchase from multiple channels, manage and respond, advertise products or event resell them. Now, instead of trusting a particular retailer, consumers can easily look for others and compare their prices publicly. Online commercial platforms become the needed partners of retailers to create more values and meet more demands of consumers.

Success by accepting the paradox

Switching to a new retail model means that businesses must accept to terminate the "paradoxes" that hinder consumers in the traditional way of selling.

Direct purchases used to be considered as a characteristic of retail; however, it is now a waste of time, as consumers prefer to actively choose and adjust their choice to their preference rather than being "tied" by any obstacle. In order to meet the demands of modern consumers, retailers need to give them what they need, from different purchase formats to how orders are completed.

Redefine service

The role of consumers has changed - they are now the main characters throughout and at all touch points of the purchasing process. Therefore, the journey of service experience needs to be redesigned. Retailers need to quickly move from in-store marketing to marketing on digital platforms. Also, they have the opportunity to take advantage of the open digital ecosystem to ease the burden, open up more opportunities, provide more options and create new service expectations in the market.

Comprehensive experience by customer segment

Before, retail organizations often formed teams to take charge of small parts in customer experience; however, this method makes it difficult to ensure consistency throughout the entire journey, especially in a multi-touch model like digital retailing. To knock down that barrier, entrepreneurs should consider a more cohesive approach, which is establishing designated customer segment management teams. Then, retailers can closely follow and maintain consistency throughout the customer experience journey.