Luxury Daily – While retail has evolved with additional sales channels, the black book of client information has remained largely unchanged, according to an executive from Boston Retail Partners at the Luxury Insights Summit 2015 April 29.
Providing a high-quality shopping experience requires knowledge of a consumer’s wants and needs, which can be aided and supported by technology. Centralizing consumer information and implementing systems that can recognize them across channels makes for a more consistent, agile purchase journey.
“Over the years, technology has significantly changed…,” said Ken Morris, principal at Boston Retail Partners, Boston. “Retail hasn’t woken up to that yet, but they are starting to wake up to that. We’re evovling and what we’re evolving to is this concept called real-time retail, cloud-based retail.
“The black book that supports everyone in this room that associates have kept hasn’t changed at all. It’s continually the black book. Who owns it is a constant battle and a constant process. “