June 20, 2017
Tomorrow, June 20, William Lewis, CEO, Dow Jones & Publisher of The Wall Street Journal and Marty Garofalo, Chairman and CEO of News America Marketing, will co-host an exclusive thought leadership roundtable that will bring together top industry leaders to discuss the Future of Retail. The attendees will discuss the topic in-depth and explore applications for consumers, brands, and retailers.
How retailers can respond to shopper’s pain points, unmet needs, and rising expectations, is discussed below, based on a study co-created by NAM and the brand energy company Protagonist (led by futurist Dee Dee Gordon). We have also collaborated with Storyful (a social marketing and news company) to mine social media intelligence to better understand the conversation around consumers’ changing expectations. During tomorrow’s roundtable, attendees will discuss the industry’s response, including how these shopper trends will shape the Future of Retail.
Stay tuned to the part three in our special News2Use Cannes Lions special edition that will share additional insights and key findings from tomorrow’s discussion.
Based on the proprietary shopper study that NAM completed with Protagonist, retailers should concentrate on the four areas outlined below if they are going to meet the needs of consumers successfully, now and in the future.
Shoppers are no different online than they are offline—it is one shopper, and they expect you to know who they are both offline and online.
According to Mary Meeker in her “Internet Trends 2017, Code Conference” presentation, the growing use of data to drive personalization will continue to blur the lines between ads, content, products, and transactions. However, while the industry continues to be obsessed with data, consumers are still worried about their privacy. According to Storyful:
According to the NAM/Protagonist study: (1) The store experience matters more than ever; (2) Browsing the store is one of the top ways to find new products; (3) There is a new, democratized awareness of aesthetic and design; blending physical and online shopping in holistic and thoughtful ways will remap it for an elevated experience. As a 44-year-old female non-promotion user from the NAM/Protagonist study states:
Kroger recently opened new fresh-focused convenience stores, launching meal kits to compete with Blue Apron and partner with conservationists WWF and has also recently announced that it will shake up delivery by partnering with Uber.
The NAM/Protagonist study described what retailers need to provide in terms of innovation as follows: