Home Property Australia Retail Doctor offers remedy to future-proof shopping centres

Retail Doctor offers remedy to future-proof shopping centres

  • June 29, 2017

Retail Doctor offers remedy to future-proof shopping centres 

Retailers must embrace the changing relationship between stores and the customer, according to Retail Doctor CEO Brian Walker.

Speaking at the Property Council WA Retail Property Conference 2017, Brian Walker said: “80% of the world’s data was created in the last 2 years.”

“These businesses know more about us and our habits than our partners and our siblings and they are using it to great effect.

“Retailers must create a tailored experience. Nearly 80% of consumers interact with digital or social media prior to arriving at the physical stores,” he said. 

Brian Walker also discussed the transparency between retailer and customer.

“Customers are more empowered, we know more about your products and your competition’s than ever before.

“This leads to greater price transparency.

“We need to think increasingly about a totally connected customer. The concept of community needs to change to integrate digital and physical.

“The future of the bricks and mortar store is still strong because we are social by instinct. Currently only 8% of Aussie retail is conducted online.

“But what we must embrace is that retail is now a complex ecosystem due to the simultaneous nature of the way business is being done,” Mr Walker said.