The Reinvention of Retail in the 5G World

FIVE – The 5G Podcast for Marketers: Episode #4

We just released the fourth episode of FIVE: “The Reinvention of Retail.” Even if you’re not involved in retail marketing, we think you’ll find it very interesting and applicable to all kinds of marketing practices.

In Episode #4, Jake Moskowitz and his guests explore the potentially transformative impact of 5G on retail – both physical and digital. Yory Wurmser of eMarketer discusses the down-side of old-school beacon technology and the “over-storing” of America. Michael Stich of VML Y&R goes deep on consumer expectations, the growing demand for supply chain transparency and localization strategies for physical retailers. Nikki Baird of Aptos Retail explores the retail benefits of augmented reality, digital “wish-lists” in the physical world and some common eCommerce issues that 5G won’t fix. Peter Linder of Ericsson suggests moving beyond general 5G use cases and proactively thinking “use places” instead.

The FIVE List

Throughout the episode, the discussions delve into the gamut and nuances of retail challenges and 5G opportunities. All in, 5G presents a wide range of new possibilities for retailers. Jake sums it all up pretty simply in the episode’s FIVE list:

  1. Personalized Marketing
    The explosion of devices will mean an expansion of available marketing data – Data that will enable better targeting, new segments of all kinds and personalized point of sale messages.
  2. Interactive store experiences
    In-store augmented reality solutions and other engaging experiences can provide unique new reasons for customers to gather in retail locations – big ideas that can be transformational, made viable with 5G.
  3. The definition of retail
    The advent of 5G presents an opportunity for retailers to think in terms of a bigger value proposition – with 5G-enabled services, transparency, entertainment, localization, entertainment and improved consumer relationships.
  4. Retail tracking with IoT devices
    From product factory to store shelf to customer closet, in the 5G future, real-time sensors will be much better suited for tracking inventory, supply chain efficiency and customer interest – advancements that can improve business efficiency and store traffic.
  5. Immersive digital experiences
    In the 5G world, apps and devices will extend engaging solutions to the customer’s home like never before and enable tighter synchronization of digital and physical retail experiences. 

You can listen to the new episode here. Better yet, subscribe to FIVE – The 5G Podcast for Marketers on your favorite podcast platform. And, while you’re there, share it with a friend. You can also ask Alexa to “play FIVE – The 5G Podcast for Marketers” on your Amazon device.

      

FIVE, The 5G Podcast for Marketers, is hosted by Jake Moskowitz and presented by the Emodo Institute and Ericsson Emodo.