₦airaland Forum

Perhaps one of the most immediate benefit of New Retail, being able to synthesize and cross-analyze data from retailers and consumers across online and offline channels is optimized logistics. By drawing on a vast pool of data that may include sales as well as social media and other types of digital footprints, New Retail companies can go beyond analyzing past sales to forecast demand to making accurate predictions about future changes in demand. This enhanced perspective can be based on many different factors, such as the number of people who have viewed or liked a product online, the ratings it is getting on e-commerce or comparison sites, and the extent to which it is being shared socially. The predictions could go beyond the market level and could capture shifts in specific locations or customer segments.

New Retail takes the power of digitization and big data beyond current applications in e-commerce and creates new dynamics between consumers, producers, wholesalers, and retailers in the physical commerce space. This plays out across several dimensions:

Supply chain and distribution logistics
Value-added services to producers and retailers
Integrated shopping experiences for consumers.

We don’t see that changing: we believe in a future where technology enables retailers to create a seamless experience between the physical store and the internet. To thrive, the physical store simply needs to adopt technologies in order to provide consumers with more of an experience.