Retailers are aware of how important digital is to modern day retailing, but simply optimising a web page or mobile sites offers little in terms of shopping experience. Retailers need to put digital at the heart of their business if they are to succeed in a competitive marketplace. If digital is the future, how can stores look to incorporate this into their own business models to create a connected and engaging experience?
Businesses need to evolve to make space for digital, building them around digital opportunities, rather than trying to incorporate these into an existing, outdated model. In reality, if businesses started again digital would be at the heart – not how most brands treat it today.
That’s not to say it’s easy. Brands need to consider incubating teams to deliver some change while the business continues. Otherwise it is very hard to change. Small changes can be made piecemeal in order to move toward powerful digital change.
Central to making this happen is leadership. There are a lot of marketing people at brands who understand digital and are visionary but they need to have leadership. Companies must institutionalise digital innovation through the veins of the organisation from the top. Argos is the perfect example of a retailer making giant changes to its digital DNA in preparation for the future. The retailer has overhauled its store model to feature Wi-Fi so the shopper can browse products online and then order while in-store. Argos is demonstrating that bridging online and offline experiences is becoming key to high street success. Argos’ recent appointment of former Amazon exec, Bertrand Bodson, as digital director highlights the move to help steer the retailer’s bid to be a digital-led retailer.
Significant momentum is being made; just last month, Argos forged a ‘click and collect’ deal with eBay, allowing customers to collect selected purchases from the online marketplace at the high street retail chain. The move clearly signals the need for both Argos and eBay to compete with market leader Amazon in the UK online retail space by offering more delivery options to shoppers.
Many companies fall behind the innovation curve not for failing to keep up with competitors, but because they’ve failed to embrace the future. Brands cannot afford to wait until tomorrow because the future is already here.
By Peter Veash, CEO at The BIO Agency.
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