Future Of Retail

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DLD conference

Markus Braun (Wirecard), William Kim (AllSaints), Johannes Steegmann (REWE Digital) and Liz Bacelar (TheCurrent) were discussing the importance of customer data in retail.

• Bacelar: We should keep in mind that retail businesses are not just moving from analogue to digital, but the other way round as well (86% of consumers move between these two shopping models)

• The future model of retail business is customer data: addressing their needs and shopping habits (e.g. REWE provides recipes online)

• In food retail business consumer loyalty is key - existing customers are actually more important than new ones

• Kim: The world is changing so fast, we need to set business goals annually - "At AllSaints, we get everything done in 100 days"

• Looking into the future, Steegmann does not feel threatened by Amazon because online channels have helped REWE maintain their relationship with their customers: "Customers will still go to the supermarket in the future"