Building the Future of Retail Consumption
In the last decade, there has been a significant change in the way people consume. Consumers are increasingly demanding, requesting transparency throughout the purchase process and seeking personalized experiences with their consumer culture. Therefore, retail companies are forced to adapt their strategies and create innovative solutions in their business models that allow them to keep up with this rapid and uncertain change in consumer behavior.
Technologies have evolved rapidly to track and capture these stimuli. We have seen the consolidation of e-commerce and the increasing adoption of mobile devices at various moments in the online and offline shopping stages. New technologies have enhanced the customization of the consumer experience, with artificial intelligence helping to describe products, consolidate evaluations, and even produce creative content so people can share it on social networks. These trends are transforming how businesses operate and how consumers interact with them.
The strategic part of companies and store operations is being affected by new forms of consumption, such as the use of data and analysis of purchasing behavior to make more accurate and assertive decisions. Virtual stores appear as an option along with concept stores, pop-up stores, and automated points of sale. The intense use of technology accelerates the discussion of the role of people involved in retail, how companies adapt to all these changes, and how this will affect society as a whole.
The 15th Latin American Congress on Retail and Consumption (CLAV 2023) invites everyone to rethink and build the pillars that will support the future of retail consumption.