Nationalism versus Globalisation – who wins?
July 14th, 2017
Have you noticed that there’s an interesting trend emerging in the marketing world these day towards globalisation – something I believe reflects a move towards a more globalised outlook generally. Brexit aside, when it comes to sales it seems that data companies are thinking as broadly as they possibly can. They know that in our constantly-connected, technologically-driven world, the future of sales is global, even if the politicians (who so often think only nationally) don’t seem to display such knowledge.
Farfetch boutique, for example, has recently developed a new technology so that it can collect more cohesive data on the shoppers that visit the store. Back in April, Business of Fashion reported that Farfetched was developing their so-called ‘Store of the Future’ a tech-powered retail experience which aimed to ’connects consumers with a curated network of boutiques and brands, is now the world’s top luxury e-commerce destination measured by traffic, outperforming competitors including Yoox Net-a Porter and Neiman Marcus, according to data from web analytics service Alexa.’ (www.businessoffashion.com/articles/bof-exclusive/inside-farfetchs-store-of-the-future)
Store Of The Future is due to launch in Autumn in London-based boutique, Browns but related in-store technology has been installed in Karl Lagerfeld, Burberry and even department stores and shopping complexes like Harrods and Westfield. It seems that collecting data on shoppers and using it to offer more targeted marketing is becoming the new normal. This creates something of a paradox, or at least a friction since there’s a political trend towards closing borders yet this creates uncertainty and makes people reluctant to buy! Economics however demands that people can trade around the world. Thus, perhaps we ought to be grateful then that the spread of technology is opening up the world – retailers want to access those markets because they want the business and politicians by their isolationist behaviour are closing down trade. So the question is: will tech win the race?