Turning Points 2008: Creating Store Transformation by Earning Trust
by Laura Davis-Taylor, Founder & Principal, Retail Media Consulting
note: In what we plan to make an annual end-of-year tradition, RetailWire
has compiled a list of the most significant retail industry “Turning
Points” of 2008. (See our news release…)
What follows is the tenth in a series of discussions based on the list.
was a banner year for in-store digital media (ISDM), as spending ramped
up significantly and helped secure the “marketing at retail” opportunity
as real. Wal-Mart also made big waves, as they announced the new evolution
of their in-store network dubbed “the Wal-Mart Smart Network.” But
as more and more retailers and brands look toward the store, we must ask
ourselves what in-store digital tools hold the most potential and how can
we ensure that consumers will embrace them?
to the mobile marketing acceptance debate, we as an industry have hopefully
learned that we must earn a consumer relationship. The level of intimacy
we earn is a continuum, and we must continually move it forward by respecting
our shoppers’ wishes.
few examples come to mind. I am now a Clear Card member and in exchange
for scanning my retina and all ten fingerprints, I can proceed to the front
of the security line in any Clear-approved airport. Google is another,
as they have slowly activated more and more online tools that make my business
and personal life more manageable, even though I know that they are tracking
many things such as what I’m looking at, what I’m storing online and even
what tools I’m using to operate my daily business. In both cases, the convenience
and value of what I’m getting outweigh any privacy concerns I might harbor.
Also, I realize that if I feel uncomfortable
with a relationship at any time, I can break it.
we look to
“cure the diseases” that reside within retail stores with technology,
there are amazing possibilities with interactive screens, mobile phones and
other emerging devices. We also have new in-store analysis tools that can
track how shoppers are responding to these technologies to ensure that they
are being used and valued.
conundrum is that trust is at an all-time low and shopper insights are
being valued by brands and agencies at an all-time high.
a survey this year from the Better Business Bureau, they shared that “the
decline in consumer trust (causes) serious problems for businesses. But
more importantly, it is an opportunity for businesses that understand the
importance of trust, and operate and lead with integrity, to gain a competitive
this tumultuous retail landscape, we stand at a crossroads. We have the
capability to create entirely new models of engaging our shoppers with
technology. Yet we are clouded by old dogma and a desperate need to create
short-term revenues, much of which can be generated by capitalizing on
the “media value” of personal information gathered from shoppers.
If we do this, trust will be the price we pay. Without trust, people don’t
share. And if they don’t share, we can’t meet their needs and create better
relationships with them. As we move into 2009, my hope is that this point
is one that we take seriously. If we don’t, store transformation will not
Questions: Can we earn the right to personal conversations with shoppers
in-store? What will it take to earn trust with shoppers in today’s competitive
- Walmart to Bring New “Walmart
Smart Network” to 2700 Stores – Walmart
- Our trust is eroding,
consumer poll shows – The Columbus Dispatch