World Retail Voice Blog Post
What does the future hold for retail?
This week we have asked some of our speakers to offer their insight on what the future may have in store for retail. Here they share their views on what future trends they will be keeping an eye on:
“I'm keeping a close eye on some global fundamental changes in consumer habits. In particular, the erosion of brand loyalty driven by the transfer of power to the consumer brought about by the digital age. I believe this will have a big impact on how consumer brands bring their products to market and the role that retail has to play in the future.”
Ken Murphy, Managing Director, International & Brands, Health and Beauty Division, Alliance Boots
Alliance Boots is a multinational pharmacy-led health and beauty group. Ken Murphy has responsibility for product innovation, product development, branding, international pharmacy-led health and beauty retailing.
“The notion of having a ‘real’ source of information for the products we desire and the effect it will have on brands. Previously, it was the glossy magazine advertisement that made people want to purchase that designer bag. Then it was the “it” celebrity wearing the item that drove demand. Now it is the favorite blogger who possesses a sense of realness. I’m very interested to see how this unfolds and further, the impact it has on the brand message.”
Chanel Costabir, Founder and CEO,The Lingerie Boutique
Chanel Costabir is the founder of online luxury lingerie store, The Lingerie Boutique. She is recognised as one of Australia's top entrepreneurs under 30. Chanel draws on her background in psychology and her passion for style to offer a unique take on fashion and business. LingerieBoutique.com.au
“Most definitely technology – it is unbelievable how fast this part of our business is developing. For example: Customers can pay with their IPhone directly in the store, or a customer passing the store immediately has the newest offer on their phone. Also there are Apps for translating your personal size into branded sizes.”
André Maeder, Group Managing Director, KaDeWe
Born in Switzerland, Andre looks back on a long international executive career in fashion and retail business as an expert for the global market for premium and luxury brands. Andre became Group Managing Director of the three top German department stores after being Chief Retail Officer and Member of the Board of KARSTADT Warenhaus GmbH, with 86 department stores in Germany.
KaDeWe is a department store in Berlin and the largest department store in Continental Europe. With over 60,000 square metres of selling space and more than 380,000 articles available, it attracts 40,000 to 50,000 visitors every day.