Fall 2019 - Inside Outdoor Magazine

Inside Outdoor | FALL 2019 41 Trek-like replicator? The short answer is yes. Gin is entirely made up of carbon, hydrogen and oxygen molecules, even including the botanical compounds in it. These are three ubiquitous elements that are present in all organic matter and could be supplied in raw form to your home-based “replicator” or 3D liquid “printer.” The flammability of pure hydro- gen gas notwithstanding, it’s really only a matter of arranging them in the right combination and viola. You have a gin martini dispensed from your kitchen’s liquid printer. Want to taste the martini from the Bar Hemingway inside the Ritz Carlton in Paris, France? It’s as easy as purchasing the licensed formula and having your liquid printer produce it for you. There is no need to travel to Paris.  So why are many successful e- commerce companies investing in brick and mortar locations? It comes down to experiences. We like to ex- perience brands and products before we buy them. It gives us a sense of connection and trust, increasing the emotional value we receive. Until we all have another Star Trek innovation – the Holodeck or full sensory virtual reality machine – in our homes, we will continue to travel to experience products. This is why high-end brands such as Gucci, Cartier and Tiffany con- tinue to build boutique retail locations, sometimes even competing with them- selves in large cities.    The service industry is also not immune to these forces. For example, retail banks provide many financial ser- vices to consumers where no physical product is involved. There was a time when you had to travel to a branch to complete these transactions. Retail branch locations – in other words, dis- tribution – were a source of value and competition in the industry. However, with the advance of e-commerce, there is very little need to travel to a branch anymore. Almost all transactions can be completed electronically, and thus banks have been closing branches for years. Nonetheless, to create a greater emotional connection with customers, some banks, such as Capital One with its “cafes,” are creating non-branch branches where customers can experi- ence the bank’s brand.    As a business leader in the retail, service, travel and hospitality indus- tries, how do you prepare for these trends? It comes back to I.D.E.C. Think carefully about the value that you really provide if the limitations of distribution or geography and manu- facturing were removed. What is the Idea, Design, Emotion and Cause that you can deliver to your customer and how can you maximize those ele- ments to differentiate yourself from your competition? That will be the basis of your success in the retail world of the future. m Based in Philadelphia, Rich Smith is chief marketing officer with Chief Outsiders. He works with companies to differentiate, drive customer loyalty and unlock profitable growth. More info at www.chiefoutsiders.com. Quickfeat Vietnam produces knits, wovens, outerwear and activewear. QUICKFEAT VIETNAM Our Services - Fabric Sourcing - Trim Sourcing - Garment Development - Factory Sourcing - Production - Quality Control - Packing & Logistics 541 350 1615 Marketing O ice Be nd, Oregon USA info@quickfeat.com | www.quickfeat.com C M Y CM MY CY CMY K QF-InsideOutdoors_Vietnam_HalfPgVert(10 -22)_ƒ.pdf 1 10/22/18 8: 10 AM