C-star Retail Forum Speaker Topic review - Mr.Dr. Chatrchai Tuongratanaphan from Thai Retailers Association
Dr. Chatrchai Tuongratanaphan, Executive Director of the Thai Retailer Association, titles his speech at the C-star Forum on April 26 "Four Forces That Will Change The Way We Do Business". The first one being the changing lifestyles of customers, that demand greater convenience in order to meet their work pattern. Then there is a changing demographic with an increase of an aging population and a rising middle class in urban environments. Also Thai people developed a new desire of wanting to stay active and engaged. The third influencing factor is the more informed consumer with access to product information, price comparisons user reviews can make informed decisions - and widely share their complaints. Because of economic volatility consumers are more careful with their disposal income, he explains. His recommendation: Smart retailers will use omni-channel-retailing strategies to give customers a seamless, consistent experience, whether it’s in store, online or through a mobile device… and will gain understanding of customers through integrated data collection and analytics.