인터로케이션:::서로 길목이 되어라

This is not unlike the situation that many major TV networks found themselves in the 1980's and late 1990’s, as viewers were slowly leaving NBC, CBS, and ABC for more specialized, targeted channels like Fox and MTV, and later from popular cable channels to more tailored channels and ultimately to personalized media experiences online.  The present endgame of entertainment media appears to be social media, with full-blown personalization and rich co-authorship of the content by the audience.  On-demand, a la carte video and media offerings are likely to dominate the entertainment landscape inn the next 3-5 years if not sooner.

Is retail undergoing a similar transformation, where departments stores and big-box brands are now finding themselves in the position that the networks were in? While they may still dominate the sales of mid-market fashion, home, and consumer products, mainstream retailers are beginning to see the early stages of decline and dis-intermediation as consumer expectations shift. This is creating a wide open opportunity today for a new breed of retail to emerge: one that embraces the kind of granular participation that consumers expect (and receive) when they engage social media, one that delivers a highly customized experience for every visitor, and one that connects people to one another.

What does social retail look like? How is the live experience different? Well, a number of retailers have added to their concepts to head in this direction. Retailers have to forget about their "category", and understand that they can make a much deeper and more sustainable offering if they understand their customer. Lifestyle concepts from established retailers like Martin and Osa (an AE brand) are able to capture a more 'open source' personality in their store, and offer a curated mix of media, artifacts, accessories, magazines and books. In addition, brands need to understand where the brand lives -in relationships between customers, not in brand marketing and advertising. Brands can thrive when their customers are connected to one another, yet most brands spend the bulk of their marketing budgets promoting themselves. And just like all other human relationships, listening is important. Even the best trend research isn't listening - it's educated guessing. 'true listening' ultimately puts your audience in control of the brand experience- what you buy and sell, how it is communicated, who participates and how, what's promoted and what's discontinued. Even the style of the products can be driven by the customer. For instance, Uniqlo will customize any product in the store to individual tastes - a brilliant idea.

These are small steps - so much more is possible, and I expect we'll see many more aggressive changes from new and established brands in the coming year. Like social media, social retail is growing. There isn't a you-tube of social retail yet, but the  blandness and decline of mainstream brands is more and more apparent everyday. The pieces of social retail are coming into focus.