SAP RETAIL
TOP 3 QUICK FIRE QUESTIONS :
DID YOU KNOW ...
Questions answered by Dr Dr
Christoph Schroeder , Global Vice President of Retail Business Unit at SAP :
What do you think our shopping experience will look like in three years ? “ Fast fashion brands such as H & M will have less articles in store but generate more revenue due to the bigger basket size . Stores will become more of an experience in the future and more fun as you will be able to enter the store from your couch with the use of Virtual Reality on your smartphone .”
What technology trends will take off this year ? “ I could see a time when we could use a 3D printer for shoes or clothes . I would argue that it ' s not entirely hip anymore to own stuff . So why not subscribe or rent which would fuel sustainability . That is something that I like to see happening .”
Top 3 tips for online retailers in 2021 ? “ The first is to target your customer . Retailers need to be in front of their customers because if they ’ re not , others will be .
“ The second is , a retailer has to know their value proposition and they must keep that promise . What is your unique selling proposition ? What is so great about your product and is it really trustworthy ? Brands get fueled by promises which need to be kept .
“ Finally , I would say classical business administration - know your market needs and design your products accordingly . Do not assume just because you have a great product it will meet current demands .” businesschief . eu 177