Big Box retail stores are losing their relevance, while other channels and formats such as e- and mobile- commerce, specialty and pop-up stores, small formats and showrooms grow in appeal.
Latest studies support the idea that customers no longer want to shop anonymously in large stores, surrounded by shelves stacked high and deep. As a result, big box retail must shift its strategy away from competing on access and selection to staging memorable customer experiences. What are home improvement retailers changing to adapt to this new situation?
Business platforms are nothing new. To compete in the digital era, it’s imperative for every business to understand what type of platform will serve it best, how its business model must change and how to make the transition.
Businesses must re-imagine themselves in terms of the experiences they want to provide, rather than the specific transactions or products they want to sell. With this information in mind, they can then look to transform their operations by understanding what type of platform should be deployed and which partners to engage. This will allow them to seamlessly provide the experience to their audience.
Discover more about these new industry’s trends at the 5th Global DIY Summit taking place from 8 to 9 June 2017. Come to Berlin and join us on a journey to the Platform Era!