What do traditional retailers own or control?
- The building
- The inventory
- The relationship with vendors
- Data about who is shopping and how they shop
- Trust with vendors, customers, employees and landlords
And now you can see the problem.
When retailers move online, the things they used to own are either eliminated or transformed.
And many retailers, in their eagerness to compete on price and their focus on selling things that everyone else is selling end up failing to build much of anything.
Permission–the privilege to deliver anticipated, personal and relevant messages to people who want to get them, and the ability to work with customers toward something better–is at the heart of every retailer’s future.
But many are so busy spamming about this week’s promotions that they forgot to earn much of anything.