Halfords CEO David Wild finds inspiration in Oscar winner The Artist, saying “the UK retail sector is experiencing a transformation as far reaching as the move from silent film to sound” when speaking on the future of retail at a Javelin Conference.
“[R]etailers must learn to adapt to a permanent new reality,” Wild continues-- the new reality in this case being the current era of online shopping, where customers use the internet to not only purchase goods, but also to compare prices within brick and mortar stores.
Social media also gets use, as people comment and ask for recommendations on future purchases.
Wild says the retail industry has to find out why and how customers interact with stores-- creating a "seamless multichannel experience" in the process. Apparently 87% of online Halfords customers pick up orders in store, where the retailer offers further advice and fitting services.
“Retailing has always been about understanding the customer so we need to adapt fast to the way they are now shopping," Wild concludes.