Companies that want to remain competitive in retail need to adapt their customer experience in their various sales channels to the customer's wishes, says Karin Lindahl, owner and CEO of Indiska.
eXpression Umeå visited Breakit's Retail Tech 2018 event on 14 November to listen and discuss trends in retail. The day kicked off with Jarno Vanhatapio, founder and CEO of NA-KD and was then followed by several successful retailers, investors, influencers and more. The two recurring themes of the day were Amazon's entry into the Swedish market and marketing via influencers.
The majority of the event's visitors agreed that Amazon's entry into the Swedish market will mean tough competition for companies with generic products and competing through price pressure, while companies with own brands are believed to be able to maintain their competitiveness and be supported by Amazon's entry.
As a small startup, going into Amazon can be risky. It requires thinking and making a good plan. Your company must bring something unique to Amazon, otherwise it's a very expensive e-tailer, says Jonas Carlsson, CEO of Friendly Swede, which makes the majority of its sales through Amazon.
Several of the speakers also highlighted the opportunities and pitfalls of promoting your company via influencers and social media. Over the years, many influencers have realized their value and with this, the price for their services has skyrocketed. Sofi Fahrman, founder of Sofis Mode and a well-known influencer, believes that many companies fail to commission marketing through influencers because expectations are unclear. By being transparent and working with the company in the planning process, the results are much better.
The keys to successful marketing with influencers are credibility and sustainability, Sofi Fahrman.
A common theme among the speakers at Retail Tech 2018 was that successful companies need a good understanding of their customer and company metrics. Those companies that see physical stores as important marketing channels and complements to e-commerce are well placed to remain competitive.
