Black Fridays, personalised emails and digital apps – fully three-quarters of retail sales growth occurs through online channels, according to a PWC report.
Also, 8 per cent of actual retail sales can be attributed to online media, the report says. These are important reasons for retailers to use a myriad of strategies to attract customers, complementing the physical storefront to provide a seamless customer experience.
In a KPMG report this year, retailers are advised to consider stock and visibility initiatives such as inventory management practices and RFID to achieve a single view of inventory. A single view of inventory supports a seamless network where consumers can see stock-level information in real time.
The number of retailers displaying stock information has doubled since 2014, and there is a chance for omnichannel retailers to challenge online-only specialists by achieving a single view of inventory.
Such strategies and more that can unlock greater retail business potential through integrating retail with technology in a seamless omnichannel will be showcased at the ASEAN Retail & Shopping Mall Summit, part of the RetailEx ASEAN trade show in Bangkok.
The summit will feature case studies showing how innovation has been adapted by the Siam Paragon in Bangkok, one of the largest shopping centres in Asia. Experts from Thailand and Southeast Asia will also offer updates in retail – the omnichannel impact, digital implications for in-store visual merchandising, business modelling and architecture development. Key topics will include trends, branding avenues, and developments in retail architecture and design.
Special highlights of the RetailEx ASEAN show include the new POS & Auto ID Congress, a VIP hosted-buyer program and site tours. The POS expo showcases the latest eCommerce technologies including new-generation point-of-sales technology.
RetailEx ASEAN, the largest in-store equipment and solutions exhibition in Southeast Asia, is an annual international trade show and conference that caters to retailers with a focus on the ASEAN market, one of the fastest-growing regions of the world. The exhibition features more than 200 local and international exhibitors.
RetailEx ASEAN runs from August 25 to 27, covering 5000 sqm at the Impact Exhibition & Convention Centre in Bangkok.