Corvinus Executive MBA

Executive MBA at Corvinus University of Budapest...it's all about excellence

Retail 2.0

2014. november 16. - Kevin Jackson

Welcome to the Corvinus Executive MBA Blog. In this blog, I will be touching on areas that are transforming how we live and work such as robotics, artificial intelligence, Internet of Things (IoT), big data, e-commerce and m-commerce, iBeacons, mobile payment, augmented reality, virtual reality, wearables, omnichannel, and a whole lot more.

To kick things off, I would like to call your attention to a slide deck that was recently created by Business Insider (http://tinyurl.com/np5fjq9). While this presentation focuses on the status of retail in the United States, it is also signaling how global retail will fundamentally change in the next five years. Ironically, we are now witnessing the simultaneous death and rebirth of bricks and mortar stores, as old school retailers leave the scene to be replaced by stores offering both interactive experiences and 24  hour delivery support for e-commerce and m-commerce.

Amazon announced in early October that it will open the doors to its first bricks and mortar store in mid-town Manhattan just in time to catch the eye of holiday shoppers.  Another Amazon store in is scheduled to open in San Francisco early next year. Why? Retail 2.0 is characterized by what is called omnichannel marketing, which involves a seamless customer experience across all platforms. Apple is the omnichannel leader with its elegant fusion of offline and online and this has both bricks and mortar and e-commerce players scrambling to catch up. The retail game has changed and technology is leading the way. 

Relevant Links:

  •       E-COMMERCE AND THE FUTURE OF RETAIL: 2014 [SLIDE DECK]: Business Insider, http://tinyurl.com/np5fjq9, October 20th, 2014

For more information about the Corvinus Executive MBA blogger, go to https://www.linkedin.com/in/kevinmjackson1.

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