www.
nexmedia
.co.za
Nex Media • NEWS
A
ccording to Gartner the world is on the brink of ‘hyper-connectivity’
with predictions that by 2020 there will be 26 billion connected de-
vices. This represents an almost 30-fold increase from 2009, when
there were just 0.9 billion.
Living a hyper-connected life and fully embracing the digital economy is
rapidly becoming a reality. According to The Guardian’s report entitled ‘In
the Digital Economy, Reinvention is the Word’, more than 2 billion people
worldwide are walking around with sophisticated mobile devices in their
pockets. Approximately 90 percent of the world’s data has been generated
in the last two years alone.
To add to the increasing hyper-connectedness, in 2015 so far, compa-
nies have further embraced this new world by investing more than $1.7tn
in initiatives and technology supporting the internet of things (IoT).
What this does is it places customer engagement into perspective as
one of the most important business imperatives for any organisation. You
need to know your customer well if you are going to succeed in meeting
the myriad of needs the hyper-connected customer has today.
According to a recent Economic Intelligence Unit (EIU) study, nearly 60
percent of executives believe that failure to adapt to hyper-connectivity is
the biggest risk to their organisation. For those who do seize the promises
of the digital economy, an overwhelming 86 percent view these efforts as
a positive influence on their organisation.
Locally, we have started to see this happening, but what makes it more
challenging is the growth and power of mobile. In the study it verifies
that mobile holds great value throughout Africa. Thanks to mobile pay-
ment apps many are able to overcome the absence of established financial
systems. And as the use of smartphones become more pervasive, better
and cheaper access to the Internet will drive more change and provide the
hyper-connected customer with information and access.
The customer of the digital economy is looking for great service, con-
venience, and brands they can associate with. This is where the world is
heading, and mobile will continue to play a crucial role going forward.
While hyper-connectedness is a powerful tool for customers, for retail-
ers it is undoubtedly a digital disruption. It is becoming more apparent that
traditional business practices are becoming ineffective, which has, accord-
ing to industry analysts, placed retailers in the midst of a ‘retail revolution’.
Those that engage with customers, who give them what they want,
both now and in the future, will lead this revolution. It is here where an om-
ni-channel experience will make all the difference, providing the customer
with what they want and being recognised and rewarded for their loyalty.
In MIT’s recent report, ‘Beyond the Checkout Cart’, the omni-channel
consumer is the central force shaping the future of e-commerce and brick-
and-mortar stores alike. Gartner underpins the importance of this believing
that ‘getting into data, analytics, or mobile isn’t even a decision anymore’.
The omni-channel consumer expects everything to be readily avail-
able at his or her fingertips and expects the overall brand experience to be
similarly accessible. Whether we like it or not, omni-channel has met the
hyper-connected customer and a retail revolution has been born.
Hyper-connected or hyper-
dead: it’s a retail revolution
Quinton Pienaar – CEO of Agilitude
