Next Wave For Retail

The next wave for retail is the convergence of the internal business networks that include the supply chain partners and the external social network that includes consumers and the variety of social network sites and connections. The consumer is driving this convergence through their use of network services and connectivity as they are building their own network of connections for services and goods along with their connections to not only retailers but the extended supply chain partners such as transportations services and manufacturers. The consumer network and computing capabilities, especially mobile capabilities, have given the consumer the tools to build their own social commerce network and many service providers have recognized this and have developed and continue to develop new services that allow the consumer to create their own personalized shopping and purchasing capabilities.




There are two things bringing this together; the computing and network capabilities, and second is new service providers taking advantage of these changes. A big part of this next wave is how retailers and service providers utilize localized and personalized services in their practices. These services will provide the secret sauce that will fuel the next wave of retail. This has been growing for a while now through experimentation, consumer experimentation and service providers. You can also see that some retailers have embraced the wave and are working towards developing the market in this direction.




I see the key aspect to the next wave as the localization of services and especially as it relates to interactions with consumers, the personalization then can grow as a result of the localization. Consumers have been using social networks and technologies for a while now to develop their own virtual shopping practices and even virtual shopping malls of their favorite retailers. They are using the services that are available from mobile app developers and now Google has jumped into the localization with both feet to provide consumer capabilities to search and shop based on their current location and even their destination location.




The Google developments and offerings they are providing through Maps alone will drive the localization of eCommerce to new levels. Retailers, restaurants and entertainment are offered and consumers are providing the personalized evaluations, ratings and recommendations on goods and services. Consumers are already tapping into these services in their shopping and travel decisions and retailers must recognize this and then take actions to incorporate the capabilities into their plans, services and offerings. Google is commercializing these services to expand their apps and services further into the lives of consumers and retailers and other service providers have a great reason to embrace this capabilities in their offerings to support their own sales and services.




Fortunately for retailers and service providers Google, for one, is providing the framework for localization that can be utilized by retailers and they are happy to provide this framework for others because it extends the Google brand and the data Google is able to obtain from this framework. This is an important benefit that should also push retailers into this next wave; the amount of customer data available as a result of this localization and personalization can be immensely valuable to retailers.