To many, the decision to go from a qualified medical doctor to a retail and healthcare specialist may seem far-fetched. Yet, that’s what makes the insights of Reinout Goedvolk, partner at Global Management Consulting firm McKinsey, noteworthy. From his experience in working in food retail, he provides his unwavering opinion: the retail business enjoys increasing attention from all over the world, even to the point of being covered by The Telegraph.
There are no one-size-fits-all solutions in the world of retailers.
The English newspaper reported a full article on an underground virtual supermarket in Seoul, confirming the surge of interest. But who’s to say that will work in, say, Pennsylvania? The difference in technology and knowledge might prove to be a stumbling block. Goedvolk rejoins that what works in one smaller geographic area won’t automatically work elsewhere. “There are no one-size-fits-all solutions”. He continues on the subject of individualized tailoring when quizzed about current digital trends. According to Goedvolk we now know that there will always be some early adopters that will try out almost any new app or invention out there. However, he thinks we’re already past that point altogether, stressing the importance of involving and interacting with your customers. Behold the example Wal-Mart Japan, where costumers were asked to mark the items they thought were too expensive; Wal-Mart followed through with selective price cuts. Now, Can you really be certain that backing this digital trend is the way to go?
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