The Pricing Power of Consumers
Gian Fulgoni Keynotes - The keynotes by Gian Fulgoni show the evolution of the Internet and provide insights for companies...
Gian Fulgoni Delivers an Insightful Internet Evolution Keynote
Taking from his title, the Internet has the ability to give and also take away for companies, destroying what resists. Yet for the consumer, the Internet has been nothing but positive. An example of this is the ability of the mobile device or smartphone to provide pricing power in the hands of the consumers. These devices allow for users to go into stores and compare prices with what is out there on the Internet. Retailers are competing with the Internet in their own stores.
Seeing this trend, Fulgoni shows that the future is likely to be smaller stores that are not carrying as much products. For companies, this means a pricing advantage is necessary unless they have another compelling selling point.
Fulgoni provides future predictions for retailers is that the Internet stating: there will be a stronger dialogue between brands and consumers, there will be a renaissance in advertising creative to differentiate products, and finally big data is here to stay.