Welcome to the first post of the new Oracle Retail International Blog.
Retail is an international business and today's successful retailers view themselves in the context of a global market. A niche fashion business in Tokyo will learn marketing strategies from the luxury brands of Milan, an independent grocer in Oslo will source the same global brands as a supermarket in Oklahoma, and every retailer in the world will measure their multi-channel operation against the international e-commerce giant Amazon. Why? Because today's customer is a global customer with unparalleled expectations on choice, price and service.
Today's consumers have access to more information on retail than ever before. Technology allows people to shop from their home, their office or from the phone in their pocket, wherever they are and at whatever time suits them. Customers are using the web to search for products and promotions. They are also using the web to develop their voice in commenting on products and services that have delighted or disappointed. In an information rich industry, this customer element creates a new world of data. The best retailers are developing eagle eyes for reading customer activity and turning it into profitable decisions. Ultimately, whether you choose to compete or shop on price, service, product innovation, excellent operations or all of the above - the international world of retail has become an inspiration for all - retailer and consumer alike.
Retail as an industry is growing and diversifying at a faster rate than ever before. Yet it is still the customer who picks the winners and the losers on the retail field. Economic circumstances transform the rules, but it is still the customer who dictates the game, the pace, the price, and the perception of the brand.
Wise retailers never rest on their laurels. They are always shopping for ideas on how to improve and differentiate the offer at every touch point to meet the customer's needs better than anyone else and to gain each customer's loyalty at a time when loyalty can be cheap.
With this blog, I hope that we might provide a hub for discussion around what unifies retail and how technology supports both the retailer and customer experience. Despite the competitive nature of this market, we hope that this will provide an opportunity to share experiences and lessons learnt with a view that knowledge can only help this industry to grow and develop.
At Oracle we've been supporting retailers for many years. Many of us have worked within retail organisations all over the world, myself included. With this in mind, I don't feel it is too bold a statement to say that Oracle understands retail. We wouldn't be so heavily integrated in some of the biggest and most well-known names in retail if we didn't.
With this blog, we intend to create a community of international retailers that can exchange ideas and experiences, debate collective challenges and drive a better understanding of this continually evolving industry. Events such as the World Retail Congress and NRF's Big Show bring enormous value to the retail industry providing platforms for discussion and learning but they happen once a year. We wanted to create a platform for discussion on a different level and that like retail, is always on. We hope not only to bring commitment to being not only the infrastructure that brings all of their systems together within a retail business, but an infrastructure that supports the industry internationally to grow and flourish through creating a platform for networking, discussion, creativity, vision and strategy.
Please feel free to ask questions or comment using the comments functionality. You might also want to visit our other Oracle Retail social media sites:
Facebook - http://www.facebook.com/oracleretail
YouTube - http://www.youtube.com/user/oracleretail
Twitter - http://twitter.com/#!/oracleretailInsight-Driven Retailing Blog - http://blogs.oracle.com/retail/
