David Mattin (Graphic: dotSource)
At the Handelskraft Conference on the 20th of February 2018 so many new paths to successful retail will be discussed. With trends, best practices, and new impulses, we want to talk about real business and tell real stories about the digital reality and its challenges.
This reality is deeply influenced by the change and the increasing automation and digitising of all processes and relationships in everyday life. As a result, communication between consumers and brands will continue to evolve, increasing customer demands and expectations.
In fact, David Mattin (TrendWatching) will tell us in his session at Handelskraft Conference 2018 «Digital Innovation for Humans – Four Digital-Fueled Consumer Trends for 2018 and Beyond» how crucial AI will be in a connected world and how to cope with the flood of new innovations and mega-trends we can all use on a daily basis, use them to strengthen our own company.
But even this new status quo has effects that companies should not ignore. In an interview with Handelskraft, David Mattin explains which consumer trend will be particularly influential in 2018 and why retailers should keep an eye on them.
With new privacy guidelines, it’s like the holiday season, which is certainly a bit for everyone to get caught up in: It keeps being brought up, that people want to escape the stress of shopping by buying presents earlier and earlier. And the result? Right: You’re running with shoes on through a mall that’s way too full, because it’s the day before Christmas Eve, hands full with wrapped gifts and thinking: Next year I’m buying my gifts way earlier!!!
In the General Data Protection Regulation’s view, which has been around since the 24th of May 2016, many companies appear to have fallen into the same vicious circle. For over 18 months, you could have at least just thought about implementing the standards of the GDPR. But even in this case, everything’s rushed and overwhelming, just like shopping in the mall on the day before Christmas Eve: Despite the stress and a “last minute” preparation you spend the holidays in peace and quiet.
After months of speculation WhatsApp finally announced the release of their business app: WhatsApp Business. This will enable SMEs to build even closer customer relationships and facilitate customer contact. And that’s just when consumer behaviour becomes more mobile and brands are trying to capture those mobile moments.
The future of business is undoubtedly digital. At the Handelskraft Conference on the 20th of February 2018 in Munich, we want to mobilise retail, talk about real business and tell real stories about the digital reality and its challenges – with trends, best practices and new impulses.
Retailers and manufacturers must break new ground to assert themselves against the competition in the market: Business models must be adapted, strategies rethought, and technical platforms developed further.
No digital project has to follow a straight and narrow path – most of them are more reminiscent of an adventurous off-road track. In order to reach the checkpoints, you need the right equipment and knowledge. This is what we want to offer our participants at the Handelskraft Conference
Furthermore, live simultaneous English translation
will be available for our international guests for the first time!
Facebook has once again changed the rules of the game. Its algorithm is now taking a new approach. Facebook classifies the content of friends and family members as more relevant, compared to the content that brand and media pages publish. The direct consequence is a lower organic reach and the first impression that arises is that years of hard work on building up one’s own audience and community wasn’t worth it.
But don’t panic, there are some bright spots: The opportunity to get better and make users happier. How do marketers have to react? What alternatives are there? What can brands and the media do to neutralise the effects of this update?
Cryptocurrencies and the technology behind them, the blockchain, have been what everyone has been talking about for months. Terms like bitcoin, ether, token, decentralisation, and smart contracts are no longer unknown to most people. Meanwhile, in the last six months, the number of different coins (over 1,400) are booming and their stock market value has quadrupled. This is currently leading to a cryptomania with an uncertain future that feeds the speculative bubble around digital currencies.
But not all everything about this quick development is positive news. For example, the Minister of Justice in South Korea recently announced that he wants to ban the trade of all crytopcurrencies. Shortly thereafter, however, the Minister of Finance contradicted this statement. As a result, on Friday, prices fell by almost 20 percent.
This raises the question of whether this is just a hype or the beginning of a revolution…
Source: Photo by Andres Urena on Unsplash
2017 was the year of the spread of smart speakers and their digital voice assistants among consumers. Companies should expand their service offerings and optimise them for smart devices in 2018, which will give them more platform monetisation opportunities.
2018 will be the year of excellent customer experiences. Virtual reality (VR) and augmented reality (AR) will, through immersive and high-value shopping experiences, play a large role in this new chapter. According to Gartner, the focus in the next five years will be on a mixed reality. Since the physical world and online world are beginning to merge, not only in private but at work too, a bridge between them makes a lot of sense.
Many products and services can only be, to a certain extent, translated into the digital world of the internet. Customers would like to touch, try on, smell, and feel before making a purchase decision. Virtual Reality and Augmented Reality bring customers the shopping experience to their home, as well as in showrooms and physical stores.
There are already many devices with VR and AR features built in like head mounted displays and the iPhone X. A prerequisite for more of such devices to be accepted on the market is having these features built in more new mobile devices, which is expected to occur in 2018. In this context, new apps are being developed. In fact, Ikea has already launched its augmented reality app Places for iOS in the US, and other companies are sure to join in with similar products.
December is synonymous with the closing of projects and company banquets, but also time to take stock of the financial year and prepare for the start of the new year.
In the last two years, new and innovative technologies and intelligent devices have come to market: Virtual and augmented reality, artificial intelligence with its numerous applications, blockchain, the Internet of things, and all activities becoming increasingly automated.
No new technologies are expected in the new year. Instead, existing technologies, devices, and software will evolve and establish themselves. At the same time, consumer behavior and needs are changing rapidly in the face of these upcoming developments. Businesses should understand that change is everywhere, and should, while watching the impact of these changes, act accordingly.
Of course, this context affects the future of marketing too. We’ll give you a short guide to the four key marketing trends for the year 2018 that all marketers should keep in mind.
As already reported on Handelskraft, the German-language online market is in top form, is growing at double-digit rates, and is concentrating more and more. Sales of the top 1,000 online shops increased by 11 percent in 2016 compared to the previous year. Yet, the ten largest shops now account for almost 40 percent of total market revenue.
A similar situation can also be seen in Alpine countries. Sales of the top 100 Swiss online shops increased by 12.8 percent to around CHF 5.5 billion, while in 2016 the top 100 online Austrian shops generated 2.1 billion euros in physical goods on the internet.
But as we live in a globalised world and online commerce is increasingly important, German-speaking countries should not only look to themselves, but also to their immediate neighbours.