Bringing the Golden Rule of Retail into an Omnichannel World

| March 27, 2018

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Every person who’s ever worked in retail from the cash register to the corporate office – knows the golden rule: The customer is always right. It’s an adage that has stood the test of time. It still stands today, even as other industry rules are changing. Retail has evolved and a new normal is upon the industry. Advances in technology and a focus on omnichannel are forcing brands to rethink their customer experience strategies. Here’s what brands have to do in order to stay relevant in retail and bring the golden rule into an omnichannel world. Consumers are harder to please than ever before. They are also harder to predict. While brands are collecting more and more consumer data, they’re not sure what data is important and what is useless, stunting the potential of their efforts. It’s an age-old struggle that John Wanamaker identified in the early 1900s, saying “Half the money I spend on advertising is wasted; the trouble is I don’t know which half.”

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Idealab

Bill Gross started Idealab in 1996 to create and operate pioneering technology companies. The structure of Idealab has allowed us to test many ideas at once and turn the best of them into companies, attracting the human and financial capital necessary to bring them to market.

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Spotlight

Idealab

Bill Gross started Idealab in 1996 to create and operate pioneering technology companies. The structure of Idealab has allowed us to test many ideas at once and turn the best of them into companies, attracting the human and financial capital necessary to bring them to market.

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