Retailers must appeal to consumers in fresh ways, such as through interactive demonstrations, social networking, new technology and digital media, if they are to succeed in the coming years.

According to the Next Generation Retail EU Committee, consumers are becoming much savvier, meaning retailers need to differentiate themselves through personalised interactions with their customers across various channels.

The committee, which is chaired by a number of retail executives such as Ikea’s Chief Information Officer Paolo Cinelli and Starbucks’ EMEA IT Director Robert Teagle, recently invited business software provider SAP to share its thoughts on the subject.

Darryl Owen, Vice President of Retail EMEA and India at SAP, said: “The economic climate may be slowly improving, but the next few years will be anything but ‘business as usual’ for retailers.

“The retail industry is entering a new phase of transformation. The companies that gain the most benefit will be those that can develop a profitable and sustainable multichannel business model, by delivering a seamless, high quality experience to their customers across all channels.”

Retailers are certainly not standing still, with a number of them now turning their attention to innovative m-commerce technology and the benefits this may bring.
With ever-changing consumer requirements, retailers must move with the times to ensure they reach customers in the right places.