The New Consumer Contract, with Erich Joachimsthaler of VIVALDI

Today’s guest is Erich Joachimsthaler, VIVALDI CEO and author of The Interaction Field (among others). Since his time at university, Erich has spent his career chasing the intangible value of a brand, far beyond sentimentality and logo recognition. In his latest book, Erich lays out the true intangible value brands can leverage — new digital business models that go beyond delivering great products and services. He shared why brands must enter into a new “Customer Contract” with consumers, one in which they work to solve problems faced by society, not the market.

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Light at the End of the Tunnel: How Dark Stores and Micro-Fulfillment Centers are Revolutionizing the Retail Supply Chain

As the well-worn proverb says, “necessity is the mother of invention,” the pandemic hit retail spaces particularly hard, pushing consumers to use ecommerce more as social and safety protocols increased. While there may be more stores open now, shoppers have found that the convenience and speed when ordering items online is invaluable even long after the protocols have gone.

To take advantage of this, retailers have turned parts or all of their spaces into “dark stores,” which act much the same way a warehouse or fulfillment center would. The opportunity then arises for retailers to not only leverage a wealth of direct consumer data from these types of transactions, but also provide greater personalization and localization services. This itself sets off a bevy of offers and angles from which to engage their customers.

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Issue 1

What's In Store for Retailers in 2019?

January 2019
The way consumers shop – and retailers sell – are rapidly changing as new technological advancements allow for greater flexibility and reach. In the past, these have taken the form of beacons, QR codes, mobile wallets, etc. Now tech like augmented reality, virtual reality, and hyper-specific targeting are leading the pack, providing an increasingly seamless shopping experience between retailers and consumers. The resources below discuss some of these trends and what retail may look like in 2019. 

TRENDS / PREDICTIONS

Using their proprietary collected consumer data, Salesforce looks at some of the major retail trends that might play out in 2019.
If brands truly want to rise from the ashes of the retail apocalypse, they must stay laser-focused on adapting to the evolution of new technology and their customers' preferences. More specifically, they need to embrace change and prepare for the upcoming trends that will transform the industry in 2019.
This highlights key tactical trends that are reshaping consumer expectations in 2019 and beyond; they are trends you can use to fuel your next winning product, service, campaign, experience, platform, business model, and more.

AR / VR

Today’s leading retailers are finding they now have the capabilities to leverage the promise of virtual and augmented reality to deliver a vCommerce experience to customers. This discusses how companies are embedding virtual and augmented reality in retail.
You may not have heard of extended reality, which combines VR, AR MR and 360-degree video in one medium. However, is it the new customer experience? XR makes it possible to visualize what a different colored car might look like when viewing an actual car in a dealership, and that’s just the beginning.

EXAMPLES

MasterCard and Next Retail Concepts have collaborated to create a new online shopping experience that allows shoppers to navigate a 3D simulation of a physical store, rather than scrolling through product pages using traditional category tabs and filters. Purchases are completed within the same environment, which is intended to integrate seamlessly with a brand's existing e-commerce platform.
Amazon is reportedly working on adapting its Amazon Go automated store technology to larger-format stores; the most natural fit for an application of this expanded technology would be Amazon's own grocery-store chain, Whole Foods. This greatly expands the use of Amazon Go's "just-walk-out" technology and realizes a future that retail has been gradually inching toward for years now.
Are you an ANA member with a research request? Contact Ask the Expert to submit your question.

About ANA Marketing Futures

Knowing that marketers are increasingly challenged in their efforts to keep up with the latest trends and technologies, the Association of National Advertisers (ANA) tasked itself with creating a program designed to help marketers anticipate—and prepare for—the future of marketing.

 

ANA Marketing Futures is what emerged. With a focus on innovative topics and emerging trends, ANA Marketing Futures provides resources that will influence and inform via member cases, research studies, and insight from industry innovators. Check back often to learn about emerging trends and become inspired to take steps toward the growth of your business.

 

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