iMedia Online Retail Summit recap
Written on 10 May 2019
Regional Manager for Australia, Adrian Wakeham, had the immense pleasure to represent SmartOSC at this year’s iMedia Online Retail Summit, held on the Gold Coast from Apr 29 to May 1, 2019 at Sheraton Grand Mirage Resort.
The event kicked off with the furious pace of the Business Connect session on the opening afternoon, with ten quick-fire ten-minute meetings between the attending brands and networking solution providers. This event masterfully weaves leading retailers with leading solution providers in a relaxed, candid and collegiate fashion to debate, discuss and strategise their shared challenges, as well as network, build relationships and meet potential partners. Delegates also separated into smaller groups in the afternoon of Day 2, to participate in the group activities of Golf, Go-karting, Sailing, Competitive BBQ-ing, Cocktail Making or Indoor-Skydiving; followed by an evening at the Gala party, sailing on a triple-hulled catamaran along the Gold Coast Broadwater.
"Retailing - who moved my model?" was the broad theme of the content this year. Key takeaway messages from SmartOSC at the event this year include:
- Retail trading conditions remain tough in Australia - due to factors including high rent, high cost of labour, falling value of the dollar, falling disposable income, political unrest.
- Consumers trust people over marketing
- Customer Data is King
- The concept of Omnichannel Retail has evolved into Unified Commerce, Headless Commerce or New Retail, (depending on who you ask!)
- Millennial consumers will soon be the most powerful group on the planet. They have grown up with brands and will stay loyal to them if the products are right - for example, Crayola Crayons now having developed a Cosmetics line keep customers loyal to the brand into adulthood.