New Retail has become the focal point of many reports, studies, conferences of late. But what does it really encompass? Not to be confused with Digital Retail, the concept of New Retail goes beyond that of improving the consumer shopping experience with the use of new technologies.
A term famously first coined by Alibaba’s Jack Ma, New Retail is often (and incompletely) defined as an approach to commerce that brings together the online and offline worlds seamlessly. While an omnichannel strategy is part of New Retail, there is more to this term than just that. According to the original description of the phrase by the Chinese e-commerce giant, the concept should also take into consideration the optimising of operational efficiency, which will in turn transform a company’s entire value chain.
It is with this in mind that Luxury Society is exploring this concept in across different facets at its upcoming Keynote. Held on Wednesday, 28 November, New Retail: The Stores of Tomorrow will examine this topic across various touch points ranging from e-commerce platforms and payment solutions to case studies of exemplary omnichannel approaches taken by luxury brands.
A full speaker line-up and confirmed programme will be announced soon, so watch this space. For more details about the event and early bird tickets, please visit www.luxurysociety.com/keynote. We can also be reached at [email protected] for all other enquiries.
We hope to see you there!