Market intelligence marks new era in retail

Johannesburg - Today’s retail environment is increasingly characterised by savvy, engaged shoppers and driven by new and evolving technologies.

“When the stakes are high, competition is fierce and change is rapid; market intelligence becomes crucial for success.”

This was the word from Nomzamo Radebe, president of the SA Council of Shopping Centres (SACSC) and CEO of JHI, speaking at the sixth annual SACSC research conference in Sandton recently.

Getting to know the consumer, identifying new trends, and harnessing the value of technology are among the top challenges for today’s innovative retailers and shopping centres.

Trends in technology and consumer patterns will shape retail in new and interesting ways well into the future as the lines between physical and digital retail continue to blur.

“In all areas of retail, change is the new normal,” noted Radebe.

As innovation and adaptability become ever more critical, and omnichannel retail becomes omnipresent, Radebe believes that prospering in this new era of retail requires shopping centres and retailers to know their shoppers better than ever before.

“Technology-driven change in the retail environment is compelling us to become more flexible and open to new retail concepts, ways of working, store formats, customer services, rental models, reporting systems and marketing channels. And, this is only the beginning,” she said.

Around 270 delegates were in attendance this year, making the event even bigger than the International Council of Shopping Centres (ICSC) research conference.

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