Brave New World - Tuesday, May 22, 2012
Waterstones couldn’t tell you today who walked in their store, what they browsed, what the dithered on, what they bought and even if they had been in the store previously or bought at all in the past. Yes apart from their online business they are relatively clueless unless the customer has a loyalty card and uses it. Amazon will log, what was bought, what wasn’t bought, what was bought with what, what was browsed, what pages were browsed and literally every aspect of the sale and every related salel. Reusing this information proactively is what the future is about and is what Waterstones is effectively handed over. They have consigned their business to mass marketing with a little direct marketing on the fringe – hardly a wise move or something any retailer should be even considering today. They may know who bought a Kindle and their first purchase but after then they may be kissing them goodbye. Is that giving the customer what they want or just naïve retailing strategy?