The importance of symbiosis between physical and online retail outlets in order to control sales processes and the need to create unique customer experiences are two key aspects in the new era of retail. So said Oscar Prats, Development Director at Ogilvy, noting that there will be increasingly ‘fewer, but smarter stores, providing a richer experience to consumers’ and that ‘mastery of the omnichannel factor (interaction between the digital and physical) is key to retaining customers during sales processes’. Prats was one of the featured speakers at the first Retail Forum, organised by ESADECREAPOLIS, which was launched as a meeting place for players from the retail sector, in light of the major transformation the sector is currently undergoing.

Manel Jadraque, Co-CEO of Talent Republic and former CEO of Desigual, predicted that ‘a new type of e-commerce is coming, in which retailers will connect their shops and serve directly from there, enabling their employees to chat directly with customers, which will give us an immediacy that traditional marketplaces will not be able to compete with’. For his part, Ferran Jover, Global Dealer Network Development Director at SEAT, explained that technology is essential to determine ‘the key points that connect with customers and to get them into the physical store’ more than for the online sales themselves.

Analysing and managing big data, a crucial factor

The conference focused on the need to adapt to new forms of consumption in the digital age, and on the importance of analysing and managing the data that new technologies provide. In this regard, according to Prats, ‘We need to focus less on marketing for campaigns and products and more on leveraging seamless customer experiences.’ Likewise, Josep Lluís Cano, a senior lecturer on information systems at ESADE, pointed to the paradigm shift and challenges posed by the Internet of Things, noting, ‘Any physical item with a digital application allows us to collect data, identify forms of consumption, that can even be applied in the design of products and the maintenance thereof’. According to Cano, these new processes are generating a ‘huge amount of data; the main challenge is organising it all in order to take advantage of it’. Jover agreed, noting that ‘Connected cars are already a reality that is improving our capacity for interaction and the quality of our customer service.’ He moreover went on to predict that in future, ‘there will be entire business models based on the data we collect that way.’

The shopping experience: more social and emotional

In his talk, Oriol Iglesias, chair of the Research Group on Brand Management at ESADE, emphasised the importance of building memorable experiences for consumers based on three key components: first, appealing to the senses to generate deep emotions; second, balancing a defined and constant identity with the occasional dash of surprise to keep clients engaged; and, third, generating authentic experiences. Iglesias stressed that, ‘in order to build omnichannel experiences, we need to focus on three intertwined dimensions: personalisation, simplicity and immediacy’.

Marc Cortés, associate professor at ESADE and General Manager and partner at RocaSalvatella, warned that ‘Digital is a lever, but it is not an end in itself’ and that ‘transformation involves changing how things are gone without losing sight of the company’s ultimate goal’. In his talk, the professor demystified certain notions about what digital transformation actually means, explaining, ‘It is not so much about technology as about focusing on the customer experience.’ He further noted that the shift to digital entails a change in the rules of the game in marketing management. ‘Where once we had the four Ps – product, pricing, promotion and place – now we have web flow, functionality, feedback and customer loyalty.’ Cortés stressed the importance, in this new context, of having a transformation model, as well as a ‘cross-cutting perspective and good data management in order to identify new business models’.

The potential of community and of cooperation between large companies and start-ups

According to Samuel Martínez, Director of Vertical Retail at Facebook, ‘Mobile commerce is growing far faster than e-commerce, in terms of both transactions and the potential for building relationships with customers.’ He further noted that, with social media, ‘the necessary investment is far less than with other media’. In this regard, Jaume Gomà, CEO of Ulabox, observed that what is interesting is to see ‘how the two worlds complement each other, for instance, how a television advertisement can automatically generate sales because people are watching TV on their tablet or smartphone’. Gomà also stressed that creating a community has been crucial for Ulabox. ‘It has allowed us to advertise without investing any money, through the recommendations of satisfied customers on social media’.

The conference also looked at the importance of cooperation and of finding synergies between large traditional companies and start-ups, above and beyond the competition. In this regard, Jadraque noted that one of the greatest challenges is determining ‘how to get traditional executives to make the leap to digital’. Responding to his own question, he noted, ‘There is no better way to work with digital than to work with start-ups. It is fundamental to understanding the disruptive actions they are carrying out.’ This idea was supported by the representatives from Ulabox and SEAT.

The Retail Revolution Conference, held on 3 and 4 March at ESADE Barcelona and jointly organised with Ogilvy, Mobile World Capital, Footfall, Stuart, Please and RocaSalvatella, was a venue for retailers, major product brands, tech companies and start-ups to shine a spotlight on the revolution the sector is currently undergoing. It featured talks by representatives from industry leaders, such as Ogilvy, Facebook, CaixaBank, RocaSalvatella and Accenture Digital, the main start-ups offering innovative technology intended to revolutionise retail, such as Mencanta, Ulabox, Whisbi and Buyapowa, and renowned academics from ESADE.